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Commodity exchange to go global

NEW DELHI DEC. 17. The Government today said the bullion market would be given a wider outlook by linking National Multi Commodity Exchange with international exchanges in Singapore and the U.S.

"We have directed the NMCE to go for interlinking with multinational exchanges to ensure greater price discovery and not limit itself to gold futures in the country alone,'' the Union Consumer Affairs Minister, Sharad Yadav, told PTI. The NMCE MD, Kailash Gupta, said preliminary level talks had been initiated with Chicago Mercantile Exchange, New York Multi Commodities Exchange and Singapore Multi Commodities Exchange for some kind of integration in Indian futures with similar trade in these exchanges.

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