Ace Successfully Completes Delivery of March Contracts

Online, March 24, 2011 (Newswire.com) - Ace Derivatives and Commodity Exchange Limited, a Kotak Group anchored commodity exchange in India has successfully handled a total delivery of 5500 MT for Chana March contracts, valued at Rs. 13.81 Crores. The Chana contract had expired on 18th March 2011.

Commenting on the settlement, Dilip Bhatia, CEO, Ace Derivatives and Commodity Exchange said "We are encouraged by the steady increase in delivery volumes being handled by the exchange. This is a clear testimony of the confidence shown by the market participants on the robust delivery process followed by the Exchange."

About Ace

Ace Derivatives and Commodity Exchange Limited is a screen based online derivatives exchange for commodities anchored by the Kotak Group as a majority stake holder. Ace Commodity Exchange, earlier known as Ahmedabad Commodity Exchange Limited, has been in existence for more than 5 decades in Commodity Derivatives Business, bringing in the best and transparent Business Practices in the commodity space.

Kotak group-the anchor investor in the Exchange has pioneered many business practices existing in the financial services industry over the last 25 years. With Ace, they bring to the market a new, state-of-the-art trading platform which combines the operational efficiency of global exchanges with deep domain expertise in each commodity vertical, be it Agriculture, Bullion, Base Metals or Energy.