Universal Commodity Exchange (UCX) was India’s sixth national level commodity exchange. It went live in 2012 but was shut down by the regulator in 2014. It was promoted by IT Professional Ketan Sheth from Commex technology Ltd (40%) and institutions such as

IDBI Bank The IDBI Bank Limited (IDBI Bank or IDBI) is a Scheduled Commercial Bank under the ownership of Life Insurance Corporation of India (LIC) and Government of India. It was established by Government of India as a wholly owned subsidiary of Re ...

(10%), IFFCO (15%),

National Bank for Agriculture and Rural Development The National Bank for Agriculture and Rural Development (NABARD) is an All India Development Financial Institution (DFI) and an apex Supervisory Body for overall supervision of Regional Rural Banks, State Cooperative Banks and District Central ...

(16%),

Rural Electrification Corporation REC Limited, formerly Rural Electrification Corporation Limited, is an Indian public sector company that finances and promotes power projects across India. It loans to Central/State Sector Power Utilities, State Electricity Boards, Rural Elec ...

(16%) are shareholders in the bourse. It received Ministry approval and Government certification on 30 August 2012. UCX started its operations on 19 April 2013 with 11 contracts in 9 commodities under the leadership of Praveen Pillai as UCX Managing director and CEO.

References

2012 establishments in Maharashtra Commodity exchanges in India Mumbai Indian companies established in 2012 {{stockexchange-stub