The exchange is located in a modest two-storey walkup in the 'Jewtown' district of Mattancherry, in Kochi. This area is characterized by lots of old shophouses that have housed spice and textile traders continually for the last several hundred years. Although this neighborhood is now part of the tourist circuit, it is still very much a serious commercial district.

The floor, although it looks in the dreadful style of a 1974 Public High School, has everything a futures pit needs. Along the walls are the booths of the different brokers and locals. They receive phone calls from outside customers. They then work their customers' orders (as well as their own in some cases) on the floor. They seem to only stand when it gets busy, otherwise shouting from the chairs. The pit is small and chummy enough to allow this. Shoes are also optional.

The other traders pushed him up to me while I was demonstrating my camera to another trader and started shouting, "Old Guy! Old Guy!" He stared dully while I took his picture, appeared satisfied, and then wandered off, to the amusement of everyone else. Regrettably I didn't have long fulfilling conversations I'd hoped to. In brief one of the traders told me: "speculating? some. hedging? yes. volumes? down" That's the universal answer at any futures pit.

When I left the Exchange and walked downstairs, I stopped to read the bulletins posted on the notice board. I was absolutely staggered to find that there was an up-to-date posting of every trading house's position! Each company, laid out, their net long/short position for each contract. I couldn't believe that such info would be released publicly. Think that explains why volumes are down. It's like playing poker when everyone sees everyone else's cards.