Leading bourse BSE today signed a pact with Federation of Indian Spice Stakeholders (FISS) for the growth and systematic development of commodity derivatives markets in the segment.
The move comes as BSE is preparing itself to launch trading in commodity derivatives.
The two organisations will co-ordinate and work jointly in the initiatives to deepen the understanding of commodity market amongst stakeholders, BSE said in a statement.
FISS with its domain knowledge and unique stakeholders ranging from farmers, traders and exporters, will assist BSE in designing new and innovative products, the exchange noted.
"BSE and ISS fully acknowledge and appreciate their strengths, resources, experience and expertise therefore they feel it expedient to join hands for mutual benefits in pursuit of common goals with the objective of developing and strengthening commodity derivatives markets," BSE MD and CEO Ashishkumar Chauhan said.
The memorandum of Understanding (MoU) has been signed as BSE will soon enter the commodities markets and FISS as an organisation will provide the exchange the necessary inputs of the industry.
"The two organisations will work together for the benefit of the trade," FISS Chaiman Ashwin Nayak said.
In January, BSE conducted mock-trading for commodity derivatives segment as it prepares itself for the launch of trade in such products.
The platform currently offers trading in equities, equity derivatives as well as currency derivatives.
Disclaimer: No Business Standard Journalist was involved in creation of this content
