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Programme on Hedging to Broaden Outreach to Bullion Market Participants in Dehradun

258 Days ago

Dehradun (Uttarakhand), September 10, 2015: As a part of concerted initiative taken by Multi Commodity Exchange of India Ltd. (MCX) to aid in the development of the commodity futures market in India, and spread awareness about hedging commodity price risks—today organised a commodity awareness programme in association with Jewellers Association of Uttarakhand in Dehradun (Uttarakhand). The programme was customised for members of the association, and the market participants in and around Dehradun.

The comprehensive programme was specifically designed to enable the commodity value chain participants to understand the ways in which they can utilise commodity futures market as an efficient and transparent price discovery platform, to manage their price risks. Experts from MCX explained about the role of futures market in price risk management and price discovery. They further elaborated about how commodity exchanges play a vital and critical role in helping the participants of the commodity ecosystem, hedge their price risks and achieve their business objectives. Other topics discussed were recent developments in commodity futures market and the regulatory perspective and framework.

While highlighting about the benefits of gold futures contracts offered by the Exchange, Ms. Mamta Kapila, Senior Manager-Business Development, MCX said, “MCX gold contracts are designed to meet the hedging requirement of different categories of participants such as importers, large jewellers, small & medium jewellers, etc. These contracts are rupee-denominated, which enable the bullion stakeholders in India to avoid the risk arising from fluctuation in currency, should they trade in international exchanges.”

“We are cheered by the response and are extremely hopeful that the trading community and the participants in and around Dehradun will effectively make use of the Exchange to hedge their bullion price risks’, she added.

Mr. Bipin Berry, President, Jewellers Association of Uttaranchal said, “In view of the unpredictable environment and increasing volatility in bullion prices, MCX gold and silver futures can be the right hedging instrument for the stakeholders like us. In fact it was interesting to note that in case of gold, MCX prices bear a correlation of more than 95% with international benchmark gold prices.”

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