Indian Commodity Exchange Ltd (ICEX) is a SEBI-recognized national commodity derivatives exchange known for pioneering innovation in India’s commodities ecosystem. Built on a fully demutualized structure with state-of-the-art trading, clearing, and settlement infrastructure, ICEX enables transparent, efficient, and technology-driven commodity trading across the country.
Operating exclusively in the Commodity Exchange segment, ICEX provides an organized marketplace where market participants—including traders, farmers, hedgers, corporates, and institutions—can access reliable price discovery, risk-management tools, and regulated commodity derivatives contracts.
🚀 Innovative Offerings & Industry Firsts
ICEX has established several global and domestic benchmarks:
After acquiring the National Multi-Commodity Exchange (NMCE) in 2018, ICEX expanded its product basket to over 16 commodity derivative contracts, strengthening its national footprint.
🛠 Technology & Infrastructure Leadership
ICEX delivers high-speed, low-latency trading using systems developed by Millennium IT, a subsidiary of the London Stock Exchange Group.
The exchange has outsourced clearing and settlement to Metropolitan Clearing Corporation of India Ltd (MCCIL) to ensure robust risk management, compliance, and settlement stability in line with SEBI guidelines.
📈 Sectoral Backing & SEBI’s Initiatives
SEBI’s progressive reforms—including permission for mutual funds, PMS, AIFs, and foreign entities to participate in commodity markets—have strengthened the ecosystem in which ICEX operates.
The approval for ICEX to commence Mutual Fund Distribution further broadens its revenue potential, leveraging its pan-India trading infrastructure.
📊 Business & Financial Highlights (FY19–20)
⚠️ Regulatory Update
In May 2022, SEBI revoked the ICEX commodity exchange license after the company’s net worth fell below the mandatory ₹100 crore threshold required for national-level commodity exchanges. Despite this setback, ICEX remains an important case study in India’s commodity market evolution, known for its innovative contract launches and technology-driven approach.
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