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Commodity Awareness Programmes Organised by MCX and FMC in Goa


November 25, 2014 - Goa, India

Multi Commodity Exchange of India Ltd (MCX), and Forward Markets Commission (FMC) organised a series of awareness programmes on commodity futures market in Goa during November 22, 2014 – November 25, 2014.
 
The programmes organized in association with Goa Jewellery Association on November 22, 2014, and Goa Industry Association on November 24, 2014, respectively, was graced by the presence of Shri. Ramesh Abhishek, Chairman, Forward Markets Commission. He explained to the audience the benefits of the future markets, and risk management. Moreover, he spoke about the reforms planned for the Futures, Forward and Spot markets. These programmes primarily aimed at imparting in-depth knowledge to the participants about the commodity markets and the importance of commodity exchanges in India.
 
During the sessions, the experts from MCX, Mr. NK Muthappa, Asst. VP, Business Development, and Mr. TG Senthilvelan, Head South Region, spoke on various aspects of commodities trading in India. Mr. TG Senthilvelan, while explaining the benefits of commodity futures markets to the audience said, “Commodity Price Risk management is an essential part of the business which helps in increasing shareholder value as well as keeping the business margins intact.”
 
There were discussions on the benefits of commodity futures for investing, trading and price risk management. Further, the participants expressed the need and urgency for more MCX terminals across Goa for them to get better access to the Exchange. Moreover, they said, there should be more such awareness programmes planned for Goa in the near future.
 
Mr. Sagar, President, Goa Jewellery Association said, “The experts educated the participants about the various futures contracts in the bullion segment offered by the commodity exchanges that are useful risk management tools. They further highlighted how the physical market players can use these contracts to hedge their exposures against rising or falling prices of bullion.”
 
Furthermore, another interactive session was organized in Goa, by MCX and FMC for the management students of Goa University, on Tuesday, November 25, 2014. The students appreciated the interactive session, thereby gaining an insight into the commodity futures market. The students opined that such sessions help them learn the practical aspects of the concepts they learn in classrooms and therefore such programmes should be conducted frequently.
 
Prof. Y. V. Reddy, Dean, Faculty of Commerce, Goa University thanked both FMC and MCX for organizing Interactive Session with MBA (Financial Services) students at Goa University on Commodity Futures Markets in India on 25th November 2014.
 
“The programme brought an insight into the technicalities of working of the commodity markets with respect to products, price discovery, transparency and risk management mechanism in trading and settlement of transactions. It also highlighted the role of FMC in regulating and monitoring the functions of commodity exchanges in building confidence of the investors and trading members and for the growth of Commodities Market in India,” said Mr. Reddy
    
About MCX:

Having commenced operations on November 10, 2003, Multi Commodity Exchange of India Limited (MCX) is India’s first listed, national-level, electronic, commodity futures exchange with permanent recognition from the Government of India. MCX offers the benefits of fair price discovery and price risk management to the Indian commodity market ecosystem.  Various commodities across segments are traded on MCX. These include bullion, energy, metals and agri commodities. The exchange has forged strategic alliances with various Indian and International commodity exchanges and business associations. 

Source: Business Wire India

BusinessWireIndia

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