Agencies, New Delhi
Bombay Stock Exchange (BSE) and Federation of Indian Spice Stakeholders (FISS) have entered into an MoU for the growth and systematic development of commodity derivatives markets in the spices complex.
Through this MoU, BSE & FISS will co-ordinate and work jointly in the initiatives to deepen the understanding of commodity market amongst stakeholders.
FISS with its domain knowledge and unique stakeholders ranging from farmers, traders and exporters, will assist BSE in designing new and innovative products. An MoU has been signed between the two as BSE will soon enter the commodities markets and FISS as an organisation will provide BSE the necessary inputs of the industry so, that members of FISS can take advantage of the expertise of BSE`s educational programmes which are vital for any trade, according to an official statement here on Tuesday.
BSE MD and CEO Ashishkumar Chauhan said, “BSE & FISS 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 market”.
FISS chairman Ashwin Nayak said, “The FISS is proud to be associated with BSE. BSE has a long standing history of service to the Indian Stock market and FISS, although formed only a couple of years ago has taken a giant leap for bringing the spice fraternity together on one platform, from farmers to exporters. The two organisations will work together for the benefit of the trade”.