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CMIE has strengths in polling live data from market participants, processing these and generating benchmarks. CMIE does this in realtime and produces statistics that are used in settlement of futures contracts.
The National Commodities Derivatives Exchange of India is India's leading commodities exchange. It has been promoted by NSE, LIC, NABARD and ICICI. The NCDEX is a nation-level, technology driven, de-mutualised, on-line commodity exchange with an independent Board of Directors. It is managed by professionals.
The NCDEX has contracted CMIE to poll market intermediaries to collect spot commodity prices. CMIE polls hundreds of market intermediaries every day to collect spot prices for over a dozen specific commodities. These prices are bootstrapped by CMIE to arrive at a benchmark price every day.
Prices are collected by CMIE thrice every trading day, these are bootstrapped and provided to NCDEX instantaneously.
CMIE plans to expand its realtime price polling systems to a larger number of commodities and trading centres.
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