Kolkata: NCDEX on Wednesday launched return based agricultural futures index . The exchange has partnered with NSE Indices Limited, a leading index service provider, as a third party to maintain and disseminate real time NCDEX AGRIDEX values. The one of its kind index, the AGRIDEX tracks and replicates the performance of the ten most liquid commodities traded on the NCDEX’s platform.Announcing about the partnership, Kapil Dev , EVP, NCDEX said, “NCDEX has always taken lead to offer innovative products in Indian agriculture ecosystem. We are extremely delighted to collaborate with NSE Indices Limited. It’s a significant collaboration which will finally fulfill the dream to serve benchmark for Indian agriculture ecosystem. The NCDEX AGRIDEX will act as a robust indicator of the broader market and its strong surveillance will give enough confidence to the traders.”NCDEX will launch tradeable futures contracts on AGRIDEX on receipt of SEBI Approval. These contracts will be cash settled as per SEBI’s guidelines. These index futures contracts will not only provide the opportunity to hedgers to hedge their position in more dynamic way but will also provide unique trading & arbitrage opportunities for market participants. As index represents a diverse basket of commodities, it’s a less risky & more predictable compared to individual commodity. Futures trading on AGRIDEX will also enhance overall liquidity on exchange platform.“We are pleased to partner with NCDEX for providing real time index computation of NCDEX AGRIDEX. NSE Indices is a leading index player in the Indian capital markets and this is one more engagement through which we have demonstrated our strengths in the indexing space.” said Mukesh Agarwal, CEO, NSE Indices.