BSE, formerly known as Bombay Stock Exchange has signed a Memorandum of Understanding(MoU) with Akola Sarafa Association and Akola Sarafa Va Suvarnakar Yuva Sangh , Maharashtra based bullion trade and industry associations for deepening the commodity derivatives market in India and benefit the trading and hedging of all the market participants in Indian bullion derivatives market.
Alok Bullion Trade Associations:
The Akola Sarafa Association and Akola Sarafa Va Suvarnakar Yuva Sangh represent the members engaged in retail sale and trade of bullion.
Objective of the MoU:
To ease the cooperation between BSE and market represented by the two bullion trade associations in the areas of knowledge sharing, education, training and events to explore the areas of mutual interest.
Features of the MoU:
i.Under this MoU, BSE will organise seminars and awareness programmes on the risk management for the bullion traders and jewellers.
ii.BSE will support the bullion traders to adapt organised forms of trading.
iii.Awareness on the hedging tools like derivatives contracts, ‘options in goods’ to support jewellers to face the volatile market will be provided.
Benefits:
i.Under ‘option in goods’ proposed by the BSE, the jewellers and bullion traders, can hedge their price risk and avail the delivery of gold on expiry of contract.
ii.This MoU will enable the creation of a deep physical network required for the bullion trade with transparency in the domestic bullion derivatives market.
Recent Related News:
BSE(formerly Bombay Stock Exchange) informed that it has signed a Memorandum of Understanding(MoU) with IIT Alumni Council to encourage the listing of startups and develop a ‘High Investor Depth’ platform for those startups.
About BSE:
Chairman of the Board– Justice Vikramajit Sen
MD&CEO– Ashishkumar Chauhan
Head Office– Mumbai, Maharashtra
