In India forward and futures trading in commodities are governed by the Forward Contracts (Regulation) Act, 1952. Under the Act, forward trading in commodities notified under section 15 of the Act, can be conducted only on the Exchanges, which are granted recognition by the Central Government (Department of Consumer Affairs, Ministry of Consumer Affairs, Food and Public Distribution). All the Exchanges, which deal with forward contracts, are required to obtain certificate of Registration from the Forward Markets Commission.
