Introducing many Currency/Commodity Exchanges in India with commonly listed product - Is the system worth technically? Why?

In my view its a absured system to to allot license and introduce so many exchanges platform with the commonly listed products.

Each exchange deals in all the variety of product like currencies viz. INR V/s USD, INR V/s Euro etc etc. and comodities like Gold, Silver, Crude etc etc. I beleive thats there is always chance of low volumes and GAP pricing among the exchanges. The low volume exchange thus be taken to create the panic volatility at a glance on technical parameters of the system. This is since due to very low margins on these segments. for e.g. its always seen that in quantities the trades of the volatile counter happen first at BSE then NSE. This is only due to low number volumes at BSE.

Therfore, there can be huge price manipulation arbitrage in the system which can gradually chunk the small retail participator.

Their should be a product allotment to each exchanges or each product need to be distributed to criteria according to their high average volumes to 2 or more exchanges.

Please give us you all views in this

Regards,