BSE signs MoU with Bhartiya Swarnkar Sangh and Jamshedpur Jewellers Association to promote Commodity Derivatives, EGRs and IIBX
Through these MoUs, BSE will participate with the BSS and JJA in seminars and various other programs to educate the community about the commodity and derivatives markets and its benefits.
BSE - India's premier & world’s fastest exchange, in its efforts to deepen the commodities derivatives market and proposed EGR market in India, has signed MoU with Bhartiya Swarnkar Sangh (BSS) and Jamshedpur Jewellers Association (JJA). The MoUs are aimed at growing and developing the value chain participants and enable them to face competition and manage price risk better.
Through these MoUs, BSE will participate with the BSS and JJA in seminars and various other programs to educate the community about the commodity and derivatives markets and its benefits. They will also encourage commodity stakeholders to hedge on exchanges. Other key aspects of the MoU include, BSE and the parties working together in order to design newer products on commodity contracts.
Commenting on the alliances, Shri Sameer Patil – Chief Business Officer, BSE, said, “We fully acknowledge and appreciate our respective strengths, resources, experience and expertise and we feel it’s expedient to join hands in the pursuit of our common objective of developing Commodity-derivatives market in India. BSE is confident of playing a vibrant gold exchange in both the domestic and international zone. The idea of spot trade via EGR and IIBX will lead to greater assurance in the quality of gold supplied, efficient price discovery and transparency in gold for all stakeholders.”
Shri Duli Chand Karel – Chairman, Bhartiya Swarnkar Sangh, said, “Through Gold hedging the interests of small jewellers and gold traders can be safeguarded. There will be no negative effect of fluctuations in the price of Gold on the stakeholders. Going ahead BSE should add more delivery centres other than Ahmedabad.”
Shri Vipin Adesara – President Jamshedpur Jewellers Association, said, “I welcome the MOU with BSE which shall help members of Jamshedpur Jewellers Association mitigate price risks of Gold in both domestic and international zones. This would further help our members procure Gold of highest quality thus making our industry more competitive in the local markets.”