Author: Shivani Sharma Posted On : 01st February 2016
Kolkata, February 01, 2016: Targeted towards educating the students and executives about the commodity futures market and the benefits of price risk management tools offered by commodity exchanges in India, Multi Commodity Exchange of India Ltd (MCX) organized two awareness programmes in Kolkata last week. These programmes were organized in association with Techno India College, and Eastern India Regional Council (EIRC)-The Institute of Chartered Accountants of India (ICAI) on January 29, 2016, and January 30, 2016 respectively.
The experts from MCX during the sessions spoke on various aspects of commodities trading in India both from Indian and global perspective. They explained in detail about risk management and price discovery, the two fundamental and critical functions performed by the commodity exchanges, and how commodity futures market enhances the overall marketing efficiency.
While explaining about the importance of commodity futures market in India, Mr. Vibhor Tandon, Assistant Vice President, MCX said, “It is an integral part of India’s market infrastructure, and is immensely beneficial to all the constituents of the commodity market ecosystem. All participants of the commodity market ecosystem across the commodity value chain are exposed to price risk, which can be hedged by participating on regulated commodity exchanges such as MCX.”
“The overwhelming participation from the students and executives made both the programmes a huge success”, Mr. Tandon added.
Prof.(Dr.) Amit Kundu Head-School of Management Studies, Techno India College said, “Management education requires a training mix of different flavours to produce an all-round manager, such as custom-designed awareness building programmes, which can nurture the curiosity in a budding manager, kindling a desire for further learning and adopting challenging professions. A management institute must collaborate with eminent institutions, industrial houses and nodal agencies to promote innovative courses having relevance, which can provide cutting-edge knowledge of latest trends and practices to the students. Hence, value-addition programmes in various areas such as these are the need of the hour. We appreciate the contribution of Multi Commodity Exchange of India Limited in organizing this programme for our students.”
Mr. Pramod Dayal Rungta, Chairman, EIRC said “We are extremely happy to note that the programme was a grand success where more than 120 members attended. We are thankful to the eminent speakers from MCX who dwelled upon the importance and need for price risk management tools offered by commodity exchanges. This programme immensely benefited the participants, and EIRC will look forward to organising more such events in future with 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 international exchanges, as well as Indian and international trade associations. For more information about MCX and its products visit www.mcxindia.com.
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