Mumbai, August 11: Commodity markets regulator Forward Markets Commission (FMC) has withdrawn the recognition given to the Bullion Association Ltd of Jaipur for forward trading.
The association was given recognition by the Government for a period of five years, from July 1, 2004 to June 30, 2009, for conducting futures trading in mustardseed, mustardseed oil and mustardseed cake, the FMC said in a release here today.
The Exchange did not organise forward trade for long during the period of recognition nor did it seek renewal of recognition beyond June 30, 2009, the regulator said.
“Accordingly, Bullion Association Ltd, Jaipur, is no longer an association recognised for forward trading in mustardseed, mustardseed oil and mustardseed cake,” it said.
—Agencies