INDIA'S National Multi-commodity Exchange (NMCE) is wary of acceding to a request by the Indian Spices Board (ISB) to temporarily suspend futures trading in cardamom on the grounds that the prices quoted in the contract were far below prevailing at auctions. The NMCE is of the view that futures trading should fall under the jurisdiction of the Forward Markets Commission (FMC) and if this is the case, it might not be able to suspend trading in the absence of a directive from the latter body... Read More