MCX-SX inks MoU with ICAI

Commodity bourse MCX Stock Exchange (MCX-SX) today said it has signed a pact with the accounting body Institute of Chartered Accountants of India (ICAI) to train market participants and bring about awareness regarding benefits of the financial markets.

"Both MCX-SX and ICAI recognise the importance of developing skill-sets for market intermediaries and sensitising professional regarding benefits of the financial markets," a release here said.

"As a part of the agreement, MCX-SX and ICAI will jointly conduct seminars, certification programmes, various events, training and research programmes on financial markets and corporate governance," it said.

ICAI is playing a crucial role in enabling Indian corporate houses to meet the government's deadline of converging with the International Financial Reporting Standards (IFRS) by April 2011.

"This tie-up will help the Exchange leverage ICAI's expertise as India's premier accounting body for meeting the new accounting standards," it added.

A portal on the joint initiative was also launched. Besides providing information, FAQs, articles presentations and research reports on financial markets, this will have an 'Ask The Expert' section, where queries will be addressed by industry experts from either ICAI or MCX-SX, the release said.