The Exchange was incorporated as a public limited company on April 23, 2003, pursuant to a certificate of incorporation and commenced its business pursuant to a certificate for commencement of business dated May 9, 2003, each granted by the Registrar of Companies, Maharashtra at Mumbai. NCDEX is regulated by Securities and Exchange Board of India (SEBI). NCDEX is subjected to various laws of the land like the Securities Contracts (Regulation) Act, 1956, Companies Act, Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, SEBI (Listing Obligations and Disclosure Requirements) Regulations, Stamp Act, Contract Act and various other legislations.