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Ncdex

“Can India's leading agricultural commodity derivatives exchange modernise its technology infrastructure to support equity, derivatives, and digital compliance requirements at scale?”

Founded2003
HQMumbai, India
IndustryFintech / Commodity Exchange
The story

NCDEX is India's primary commodity derivatives exchange, regulated by SEBI, primarily serving agricultural and other commodity market participants. The exchange has focused on compliance infrastructure and technology modernisation, including a partnership with TCS for scaling equity and derivatives capabilities. Recent regulatory circulars indicate a strong push toward formalising technology vendor governance and cyber security compliance across its member ecosystem.

Last 12 months
2026-04
Product timeline
2003
National Commodity & Derivatives Exchange Limited (NCDEX) was established as a commodity derivatives exchange in India.· pivot
2024
NCDEX issued Exchange circular NCDEX/COMPLIANCE-036/2024 formalising empanelment of back-office vendors and in-house developed software.· pivot
2026
NCDEX issued Master Circular No. NCDEX/Member Tech Compliance-007/2026 consolidating cyber security compliance directives for all members.· pivot
Regulated entities
1
regulatory licence held by Ncdex
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
0 layers disclosed in Ncdex’s embedded-finance stack
Accounting gap: none

Ncdex — frequently asked

Where is Ncdex headquartered?

Ncdex is founded in 2003 and headquartered in Mumbai, India.

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