Media Release
BSE signs MoU with Vidarbha Chamber of Commerce & Industry for deepening Commodity Market in India
Mumbai: July 01, 2022: BSE, India’s premier exchange and the world’s fastest Stock Exchange has signed a Memorandum of Understanding (MoU) with Vidarbha Chamber of Commerce & Industry, based in Akola, Maharashtra, for deepening the commodity markets in India on June 26, 2022. These Vidarbha Chamber of Commerce & Industry represents over 1,700 members respectively, engaged across all sectors of trade, profession, service and industry. It is recognized as one of the most proactive associations across the state of Maharashtra. The MoU aims to facilitate cooperation between BSE and physical markets in areas such as knowledge sharing, education & training, events as well as to explore all areas of mutual interest.
Shri Sameer Patil, CBO of BSE said "The government is making efforts to promote formal financial instruments and create a complete ecosystem of formal economy. Taking financial literacy to the remotest part of the country will help industry participants understand the various facets of the formal economy. This MOU is an affirmation and recognition of our efforts to bring physical market participants to the Exchange platform and continuing our sustained campaign."
Shri Nikesh Gupta, president of Vidarbha Chamber of Commerce & Industry, said "We are very thankful of BSE for patronising Vidarbh Chamber of Commerce and Industry, and the session held by BSE at our AGM was very informative and successful. We have signed MoU with BSE and we are definitely looking forward for more ventures together in the future.”
Shri Nitin Khandelwal, past president of Vidarbha Chamber of Commerce & Industry, said "We hold regular awareness sessions with BSE, and glad that our association has now culminated in a MoU, giving us the flexibility to work together for the development of industries based in the Vidarbha region".
BSE aims organize seminars and awareness programmes on price risk management for manufacturers, farmers, traders and jewellers, and help them move to more organised forms of trading. Awareness about effective hedging tools such as derivatives contracts, including futures and 'options in goods' to face a volatile market would also be provided. BSE is India's first universal exchange and offers trading in a wide gamut of asset classes including equity, debt, currency, interest rates and commodities.
About BSE
BSE (formerly Bombay Stock Exchange) established in 1875, is Asia’s first & now the world’s fastest Stock Exchange with a speed of 6 microseconds. BSE is India’s leading exchange group and has played a prominent role in developing the Indian capital market. BSE is a corporatized and demutualized entity, with a broad shareholder base that includes the leading global exchange- Deutsche Bourse, as a strategic partner. BSE provides an efficient and transparent market for trading in equity, debt instruments, equity derivatives, currency derivatives, commodity derivatives, interest rate derivatives, mutual funds and stock lending and borrowing.
BSE also has a dedicated platform for trading in equities of small and medium enterprises (SMEs) that has been highly successful. BSE also has a dedicated MF distribution platform BSE StAR MF which is India Largest Mutual Funds Distribution Infrastructure. On October 1, 2018, BSE launched commodity derivatives trading in Gold, Silver, Copper, Oman Crude Oil Guar Gum, Guar Seeds & Turmeric.
BSE provides a host of other services to capital market participants including risk management, clearing, settlement, market data services and education. It has a global reach with customers around the world and a nation-wide presence. BSE’s systems and processes are designed to safeguard market integrity, drive the growth of the Indian capital market and stimulate innovation and competition across all market segments.
Indian Clearing Corporation Limited, a wholly owned subsidiary of BSE, acts as the central counterparty to all trades executed on the BSE trading platform and provides full novation, guaranteeing the settlement of all bonafide trades executed. BSE Institute Ltd, another fully owned subsidiary of BSE runs one of the most respected capital market educational institutes in the country. Central Depository Services Ltd. (CDSL), associate company of BSE, is one of the two Depositories in India.
BSE has set up an Investor Protection Fund (IPF) on July 10, 1986 to meet the claims of investors against defaulter Members, in accordance with the Guidelines issued by the Ministry of Finance, Government of India. BSE Investor Protection Fund is responsible for creating Capital markets related awareness among the investor community in India.
Media Contact:
Yatin Padia / Rahul Vyas / Shruti Nitesh
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