The correct answer is Commodities Futures Trading.Forward Markets Commission Forward Markets Commission is a regulatory body established in 1953 under the Forward Contracts (Regulation) Act, 1952. The headquarters of the forwarding Markets Commission (FMC) is in Mumbai.It is under the supervision of the Ministry of Consumer Affairs, Food and Public Distribution, Government of India and is overseen by the Finance Ministry of India.Forward Markets Commission is the prime regulator of commodity futures markets in the country.Additional InformationThe beginning of the commodity futures market in India has been more than a century.The first organized futures market was established in 1875 to trade in cotton contracts under the name of the Bombay Cotton Trade Association.This was followed by the institutions for futures trading in oilseeds, grains, etc.The futures market in India grew rapidly during the period of World War I and World War II.