Indian Commodity Exchange NSEL Suspends Trading after Government Investigation
Thursday,01/08/2013|18:33GMTby
Adil Siddiqui
India’s largest spot exchange, the National Spot Exchange, halts trading after the exchange comes under government investigation for short selling, as a result shares in Financial Technologies slump 64%.
Indian based commodity Exchange ; the National Spot Exchange has suspended trading in financial derivatives and spot contracts. The move comes on the back of a government investigation by the Department of Consumer Affairs over short selling in contracts.
NSEL said in a statement Wednesday evening that it had suspended trading in forwards and delayed settlements of contracts for 15 days. India's commodities regulator asked exchanges two weeks ago not to launch new forwards contracts on the back of falling volumes.
The exchange stated in a notification: “Trading in all contracts, except e-series contracts, stands suspended until further notice.”
NSEL is owned by one of India’s largest financial services technology firms, Financial Technologies (FT) who also owns MCX as well as a range of overseas exchanges including SMX, DGCX, GBOT and BFX.
NSEL is the largest spot commodities exchange in the BRIC nation.
The government crackdown has had a detrimental impact on both Financial Technologies and MCXs’ share price. Shares in Financial Technologies dropped 64.5% to INR 191.65, while MCX fell 20% to INR 510.5.
Jignesh Shah, Chairman & Managing Director of Financial Technologies
Investor sentiment has questioned the dilemma faced by NSEL and consequently impacted the share price of Financial Technologies. However, Jignesh Shah, Chairman & Managing Director of Financial Technologies, commented about FT’s position in a statement, he said: “ The action of NSEL does not entail any financial liability on FTIL and that the business at FTIL is as usual.”
NSEL has been established since 2008, the firm is operational in 16 States in India, providing delivery-based spot trading in 52 commodities.
The NSEL and two prominent Mumbai commodity brokers were unavailable to provide a comment.
64% drop in Financial Technologies share price
Indian based commodity Exchange ; the National Spot Exchange has suspended trading in financial derivatives and spot contracts. The move comes on the back of a government investigation by the Department of Consumer Affairs over short selling in contracts.
NSEL said in a statement Wednesday evening that it had suspended trading in forwards and delayed settlements of contracts for 15 days. India's commodities regulator asked exchanges two weeks ago not to launch new forwards contracts on the back of falling volumes.
The exchange stated in a notification: “Trading in all contracts, except e-series contracts, stands suspended until further notice.”
NSEL is owned by one of India’s largest financial services technology firms, Financial Technologies (FT) who also owns MCX as well as a range of overseas exchanges including SMX, DGCX, GBOT and BFX.
NSEL is the largest spot commodities exchange in the BRIC nation.
The government crackdown has had a detrimental impact on both Financial Technologies and MCXs’ share price. Shares in Financial Technologies dropped 64.5% to INR 191.65, while MCX fell 20% to INR 510.5.
Jignesh Shah, Chairman & Managing Director of Financial Technologies
Investor sentiment has questioned the dilemma faced by NSEL and consequently impacted the share price of Financial Technologies. However, Jignesh Shah, Chairman & Managing Director of Financial Technologies, commented about FT’s position in a statement, he said: “ The action of NSEL does not entail any financial liability on FTIL and that the business at FTIL is as usual.”
NSEL has been established since 2008, the firm is operational in 16 States in India, providing delivery-based spot trading in 52 commodities.
The NSEL and two prominent Mumbai commodity brokers were unavailable to provide a comment.
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The Finance Magnates Awards 2026 nominations are now open. 🏆
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The Finance Magnates Awards 2026 nominations are now open. 🏆
From fintech innovators to leading brokers, this is where the finance industry celebrates its biggest achievements.
Winners will be announced at the Cyprus Gala Dinner on November 6, 2026.
Nominate your brand now.
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Finance Magnates Awards 2026 nominations are now open. 🏆
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In this interview, you'll learn:
* Why Dubai and the MENA region are critical growth markets for fintech and online trading.
* How Exness is addressing the demands of mobile-first, younger traders through engineering, platform stability, and transparent conditions.
* The essential role local talent plays in providing a culturally relevant and compliant user experience.
* Mohammad Amer's outlook on the future of the online trading industry and why stronger controls and systems are necessary.
* Why "trust" isn't just a brand value, but has commercial value—and why he predicts 2026 will be the "Year of Trust."
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➡️ The MENA region is rapidly shaping global financial markets.
➡️ New traders expect stability, precise execution, and transparency.
➡️ Local expertise is key to regulatory compliance and user experience.
➡️ Future success belongs to firms capable of meeting rising standards across regulation and platform consistency.
Read the full article at: https://www.financemagnates.com/thought-leadership/exness-sees-trust-as-the-key-theme-for-growth-in-mena-trading-growth-for-2026/
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- Broker and Prop Firm Data Challenges
- The problem of delayed data processing (batch processing vs. real-time events)
- Fragmented systems and conflicting data sources
- Altima's unified, event-driven solution architecture
- The concept of a "risk-aware CRM"
- Built-in risk management in Altima Prop
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