Date:24/05/2005 URL: http://www.thehindubusinessline.com/2005/05/24/stories/2005052400581000.htm

Back Upasi holds demo on tea futures

Our Bureau

Kochi , May 23

A WORKSHOP and live demonstration on futures trading in tea was held here on Monday by Upasi Commodity Exchange Ltd (UCEL) and Multi-Commodity Exchange of India Ltd (MCX) for the tea trade.

UCEL had aligned with MCX for conducting futures trading in tea. The workshop and live demonstration, organised jointly by UCEL and MCX, was aimed at providing a forum for meaningful deliberations on various aspects of the operations of futures market, official sources said.

Under the present tie-up with MCX, UCEL would be a trading-cum-clearing ember (TCM), which "will provide the latter the right to trade, clear and settle transaction for its members". By enrolling as a trading-cum-clearing member, the UCEL members will also participateg in futures trading. UCEL sources said.