business-india-news

MCX holds commodity exchange programme

Kolkata, Jan 6 : Commodity futures exchange company Multi Commodity Exchange of India Ltd (MCX) on Monday organised an awareness programme along with the Forward Markets Commission and MCC Chamber of Commerce & Industry (MCCI) here.


It aimed at increasing the participation of Small and Medium Enterprises (SME) on commodity futures exchanges and the manner in which they could be used as effective price risk management tools.

It was a forum to create a better understanding of the commodity futures market among the participants, thereby enabling them to hedge risks. They were explained about the use of an exchange platform such as MCX to manage risk to which they would be exposed to, and volatility associated with commodity prices.

The interactive programme focussed on the fundamentals of commodity trading, hedging techniques, trading strategies amongst others.

The experts threw light on various other aspects concerning the commodity futures market.

Sumesh Parasrampuria, Director-Business Development, MCX said, "MCX has always endeavoured to be at the forefront in imparting knowledge by organising commodity awareness programmes for the market participants. Such programmes encourage more and more participants from the varied industries and sectors to use the commodity futures market. They benefit from the price discovery and price risk management function performed by the commodity exchanges."

Speaking on the occasion, Sanjay Agarwal, President, MCCI stressed on plugging the existing loopholes in the distribution and pricing of commodities and expressed dubiety on the success of imposition of 0.01 percent CTT (Commodities Transaction Tax) on the trading of non agricultural commodities."

--IBNS (Posted on 07-01-2014)

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