Jute exchange hopes to restart trading soon

East India Jute & Hessian Exchange (EIJ&HE) will be resuming trading activities soon, said Dinesh Mohan Tiwari, president EIJ&HE on the sidelines of the association's annual general meeting.

Addressing members, Tiwari said, the exchange has been continuously trying to persuade the regulator that no violation of the bye-laws for trading in hedge contracts had taken place.

"The directives of the commission are primarily administrative in nature and those have been complied with" he said.

Trading activities at the exchange had been stalled since May, this year. Tiwari said the exchange is poised to imbibe the technological feats desired by the commission.

"The mobilisation of finance for installation as well as operating resources will be met with once the exchange is put back to its full functioning" he said.

Tiwari urged the Foward Markets Commission to give the exchange its directive for further compliances and if there happens to be none, to open the market by giving permission to futures trading.