The Indian Commodity Exchange (ICEX) has received the markets regulator Sebi’s approval for recommencing operations that are expected to begin in November.

Reliance Capital is an anchor investor in ICEX, trading on it has been suspended for two years.

R-Next which is the wholly owned subsidiary of Reliance Capital, is the anchor investor and holds 26 percent stake whereas the state owned MMTC owns 16 percent stake in the exchange.

Anil Ambani, Reliance Capital chairman had announced earlier this week that the firm will be relaunching its commodity exchange with focus on diamond and crude oil futures.

The exchange plans to make diamond futures its flagship product with potential daily turnover of over Rs 6,000 crore.

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