BSE joins hand with Nashik Sarafa Association to develop commodity derivatives market

Leading stock exchange BSE on Wednesday said it has collaborated with the Nashik Sarafa Association to further develop the commodities and derivatives market in India.

Both the parties will also work together on developing new products on bullion commodities contract, the exchange said in a statement.

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The pact aims to deepen the understanding of commodities and derivatives market amongst its stakeholders' while, educating them on its benefits and also encouraging them to hedge on exchanges.

"... 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, Girish Navse, President - Nashik Jewellers Association said.

Through this MoU (Memorandum of Understanding), BSE and Nashik Sarafa Association will 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," Sameer Patil, CBO BSE, said.

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

BSE is the market leader in the bullion 'options in goods' segment and only exchange to have deliveries executed in Gold, Gold Mini, and Silver 30 kgs contract.