Question

Spot as well as derivative markets for commodities have existed in india for centuries. However, the traditional markets were local markets built for local access, spread all across the length and breadth of the country. In the traditional indian commodity derivatives markets, instead of one exchange trading multiple commodities, each commodity would have multiple exchanges. Each exchange would be set up in, or close to, the region where the commodity was produced. As elsewhere in the world, all the exchanges were associations of brokers. Today, these markets are very different due to some liberalization in the underlying product markets and the reforms in the financial sector.

Answer 1

Answer:

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