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BSE signs MoU with premier bullion trade associations across India

These associations collectively represent close to 2,200 members, engaged in retail sale and trade of bullion

BSE | Commodity derivatives | bullion

Press Trust of India  |  New Delhi 

BSE-1 (Photo credit: Kamlesh Pednekar)

Leading stock exchange on Friday said it has joined hands with five trade associations for strengthening the market within the country.

In this regard, has signed a Memorandum of Understanding (MoU) with Sangli Sarafa Association, Yavatmal Sarafa Association, Amritsar Sarafa Association, Shree Choksi Mahajan Association and Gems and Jewellery Trade Council of India (GJTCI).

These associations collectively represent close to 2,200 members, engaged in retail sale and trade of .

The pact aims to facilitate cooperation between and physical represented by these trade bodies for knowledge sharing or exchange of ideas, education and training, as well as to explore areas of mutual benefits to ensure the best interests of .

Through this association, BSE aims to organise seminars and awareness programmes on price risk management for traders and jewellers, and help them shift to more organised forms of trading.

Further, awareness about effective hedging tools such as derivatives contracts, including futures and 'options in goods' to enable face a volatile market would will also be provided.

The 'options in goods' contract offered by BSE makes it extremely beneficial for and bullion dealers, who can not only hedge their price risk but also avail delivery on expiry of the contract.

"Joining hands with esteemed trade associations across India will bring expertise in creating suitable products, build a deep physical network needed in bullion trade and will add transparency in the domestic bullion derivatives markets,"the exchange's chief business officer Sameer Patil said.

According to him, this engagement would benefit all market participants in trading, hedging and seeking delivery in Indian bullion derivatives market.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Fri, November 13 2020. 16:37 IST