Fmcs National Conference Today

The Forward Markets Commission, the regulatory agency for commodity futures trading in the country, is hosting the second national conference on Monday in Mumbai to deliberate upon the need to improve the quality of the commodity futures trading in India. About 18 commodity exchanges of the country are expected to attend the conference to be inaugurated by Sharad Yadav, Union minister of consumer affairs, food and public distribution.

The Commission has envisaged a three tier frame work for commodity futures trading including the Government of India, the Forward Markets Commission and various commodity exchanges. The Commission expects the interaction to result in paving way for further steps towards implementation of a sophisticated futures trading platform. The various commodity exchanges will share their experiences about the futures trading in various commodities and will also suggest measures to improve the lagging trading volumes. The topics include taxation related issues, treatment of speculative losses, inter-state sales tax, and impediments to integrated commodity derivatives market.