NCDEX, or National Commodity & Derivative Exchange Limited, is a multi-commodity trading exchange that enables traders to trade agricultural commodities such as wheat, oil and soybeans. Commodity trading on exchanges allows dealers to maximise their profits while also providing peace of mind to farmers who are often concerned about price swings and loss. It follows the same stock market timetable as the other exchanges, including the MCX.

What Is The Difference Between MCX And NCDEX?

• Although both the MCX and the NCDEX are commodity trading platforms, they vary somewhat in terms of the commodities they trade. MCX trades commodities such as silver, gold and other traded metals, but NCDEX gives the highest investment returns through dealing in agricultural goods.
• Although the primary distinction between the two commodities exchanges is the commodity traded, there are several additional distinctions in terms of promoters and owners, clearing banks, and so on.
• On the one hand, the NCDEX was founded in April 2003, while the MCX began operations in November 2003. NCDEX is India’s sole exchange that is supported by LIC, ICICI Bank Ltd, NABARD, and the NSE.
• Singapore Mercantile Exchange (SMX), National Spot Exchange Ltd (NSEL), Global Board of Trade (GBOT), Bahrain Financial Institution (BFX) and others support MCX.
• Aside from that, each exchange has a distinct number of clearing banks. The NCDEX has 15 clearing banks, whereas the MCX has 16 clearing banks.