Reuters reported that National Commodity and Derivatives Exchange Ltd part owned by Goldman Sachs and Intercontinental Exchange Inc will launch thermal coal contracts trade from September 10th 2008.

Mr Joseph Massey told Reuters that Rival Multi Commodity Exchange of India, the leader in energy trade in India, is also likely to launch thermal coal futures in later part of the year.

It said that NCDEX will start trading in October, November and December futures. The unit of trading and delivery is 100 tonnes and daily fluctuation limit is 6% on either side.

Members are allowed a position limit of 1.2 million tonnes for all contracts or 15% of market open interest. Client limit is 0.4 million tonnes.