BSE, Nashik Sarafa to develop commodity derivatives market in India

BSE has joined forces with the Nashik Sarafa Association with an objective to grow and develop the Indian commodities and derivatives market.

The Indian commodity exchange said that a memorandum of understanding (MoU) signed by the parties is aimed at deepening the understanding of commodities and derivatives market among Nashik Sarafa Association’s stakeholders while giving them an awareness of its benefits and also encouraging them to hedge on exchanges.

Girish Navse — President of Nashik Jewellers Association said: “We are happy to sign the MOU with BSE & hope that we will continue to get knowledgeable information on subjects like gold hedging through BSE so that we can carry forward our business smoothly.”

BSE and the Nashik Sarafa Association will also collaborate on developing new products on bullion commodities contract.

Sameer Patil — CBO of BSE said: “Through this MoU, BSE and Nashik Sarafa Association shall jointly collaborate on growing and developing the value chain participants in the commodity ecosystem so as to enable them to face competition and manage price risk better.

“We shall further help in developing the existing commodity derivatives market by bringing together the strengths, resources, experience and expertise of both parties.”