Markets regulator Sebi today allowed the Universal Commodity Exchange (UCX) to discontinue operations as a commodity bourse. In 2012, UCX was granted recognition as a multi-commodity exchange. The board of UCX had suspended trading operations with effect from July 16, 2014 in view of the "drastic" decline in trading volume. Thereafter, the exchange has made no attempts for revival of trading and not formulated any plan for the purpose of its revival, according to a Sebi order.

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