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  • Awareness programme jointly organised by MCX & Sarafa Vyapar Mandal in Mirzapur

    Published on February 15, 2016

    Mirzapur: Multi Commodity Exchange of India Ltd (MCX) and Sarafa Vyapar Mandal organized an awareness programme on ‘Hedging through Bullion MCXFutures’ in Mirzapur on Sunday, February 14, 2016. The programme was aimed at enabling the participants to get well versed with the technicalities of working of the commodity markets with respect to the products, especially bullion; price discovery, transparency and risk management mechanism in trading and settlement of transactions.

    The experts from MCX, made an elaborate and insightful presentation on bullion futures trading in India, which has benefited its stakeholders by providing a platform for efficient use of capital, lock-in of prices, and easy accessibility to bullion value chain participants, among others. The participants were further briefed about different variants of gold and silver contacts offered by MCX which meet the requirements of diverse categories of participants like large importers, jewellers, small retail jewelers, etc.

    While highlighting the benefits of gold futures contracts offered on the Exchange platform Mr. Sunil Misra, Senior Manager-Business Development, MCX said, it is the efficiency of the price discovery process and the hedging efficiency that play a  key role in making the market relevant and useful to its users. MCX gold futures contract has a high correlation of over 90 per cent with international benchmark gold prices. Hence, the process of price discovery and price risk management is being efficiently carried out by the MCX gold contract.”

    Mr. Om Prakash Chaurasiya, President, Sarafa Vyapar Mandal said, “The increased streamlining and convergence of diversified information on the market fundamentals of commodities through transparent interaction of various stakeholders of the commodity ecosystem, including bullion value chain participants on the organised platform has been mainly achieved through the sustained awareness creation and outreach efforts taken by commodity exchanges such as MCX, which is commendable!”