Market regulator Sebi has given final nod to Indian Commodity Exchange (ICEX), anchored by Reliance Capital, to recommence trading operations.
The exchange said it will restart trading operations by the end of next month, after a gap of three years as the bourse has complied with all Sebi mandated norms.
"We are grateful to Sebi for granting the final approval to ICEX for re-commencement of trading operations. With all requisite approvals in place, ICEX is poised to go live by end-August, 2017," ICEX Managing Director and CEO Sanjit Prasad said in a statement.
ICEX, a screen-based online derivatives exchange for commodities, has already received approval from Sebi for commencement of business and trading operations for diamond.
It has applied for crude and brent oil contracts. Prior to launch, ICEX will now be stepping up enrolment and training of members and conducting mock trials.