FMC awaits Act revamp

The Forward Market Commission (FMC) is hoping that it will be able to face all the challenges once the Forward Market Regulation Act (FCRA) is amended.

Speaking at the sidelines of "FIA Asia Derivatives Conference" on Wednesday in Mumbai, FMC chairman S Sundareshan said, "We are awaiting for the amendment of the Forward Market Regulation Act, which is expected very soon."

The commodity market regulator complemented national and regional commodity exchanges for their wonderful jobs.

"National commodity exchanges have done impeccable job in collecting spot prices and disseminating them while 21 regional commodities exchanges have wonderfully kept the futures trade alive," Sundareshan said.

Sundareshan said the real purpose for setting up commodities futures trading platform would not be fulfilled until every farmer has access to market information.