RCDEX to Operate from January 27

January 23: Rigel Commodity and Derivatives Exchange (RCDEX) is starting its operation from January 27. Issuing a press statement, the exchange informed of trading gold futures for the initial three-month. According to the statement, other commodities including silver, copper, crude oil, natural gas, wheat, rice and cotton will be added later.

The exchange believes that the introduction of trading of agricultural commodities like rice and wheat will enhance the efficient pricing mechanism. The exchange will provide a reasonable pricing mechanism among the exporters according to international trends which will keep them competitive internationally. Moreover, the market based methods of risk management will reduce the risk of high price volatility in domestic market.

"The exchange will also serve as a platform for local market participants in accordance with international practices by ensuring transparency and professionalism," reads the statement.