Business Daily from THE HINDU group of publications
Tuesday, Mar 10, 2009
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Tuesday, Mar 10, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Agri-Biz & Commodities
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Commodity Exchanges Money & Banking - Alliances & Joint Ventures States - Other States MCX-SX signs pact with UP bullion traders’ body Our Bureau Mumbai, March 9 MCX – SX has forged alliance with U.P. Sarafa Association, an Uttar Pradesh-based bullion traders’ body. The alliance will enable thousands of members of the association to participate in the modern trade mechanisms enabled by the MCX – SX currency platform. The agreement was signed between Mr Mahesh Chandra Jain, President, U.P. Sarafa Association and Mr U Venkatarman, CEO, MCX – SX. MCX – SX has also signed MoU with six trade associations of Rajasthan. The alliance will enable the association to take advantage of an efficient currency futures market reaches to all spectrums of its users. Various joint seminars and programmes will be organised to educate members of association about the currency futures market and its benefits. MCX-SX, jointly with its MoU partners, has conducted over 120 training and awareness programmes across the country. Mr Venkataraman said, “We are confident that the deal will help the various market participants including jewellers, exporters, importers and traders at regional level also to hedge their risk on the currency platform.” Mr Jain said, “The members will be able to manage their business better as currency fluctuation now plays very important role in the price of bullion. The sharing of information would be of great benefit to the members.” More Stories on : Commodity Exchanges | Alliances & Joint Ventures | Financial Services | Other States
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