"The Federation has presently signed up a memorandum with six to seven exchanges of Western India and will sign up its next memorandum with Kolkata Jute exchange by mid-December followed by exchanges in the North India," said P M Chheda Saod, vice president, FICE.
FICE, a national level organisation comprising various commodity specific and multi commodity future exchanges is in advanced stage of finalising its tie-up with BSE where in FICE will try to extend the members' easy access to commodity markets nationwide with BSE providing the technological support, he added.
There are nationwide approximately 21-25 region specific exchanges, which are loosing shine on account of lack of technology and the tie up with BSE will enhance their platform and increase the trade volumes, he said.
"Presently our focus was at exchanges in the Western India but we are in talks with the exchanges of other areas and this will be an ongoing process," he added.
The exchange in future is thinking of starting cross trading between the exchanges. "Under the first stage it will be providing the platform to the regional exchanges for technology and this would be followed by the second stage wherein we plan for cross trading in exchanges," he added.