Mumbai: Premier stock exchange BSE has entered into an agreement with the Bombay Metal Exchange (BME) for the growth and systematic development of commodity derivatives markets in the non-ferrous metals complex.
Through this memorandum of understanding (MoU), the BSE and the BME will co-ordinate and work jointly on initiatives to deepen the understanding of commodity market among stakeholders, a release said here on Saturday.
The BME, with its domain knowledge and unique stakeholders ranging from importers, traders to corporates, will assist the BSE in designing new and innovative deliverable products in commodities like aluminium, copper, zinc, nickel and lead among, others, it said.
The BSE will soon enter the commodities markets and with relevant industry inputs, members of the BME, post the MoU, can take advantage of the expertise of the stock exchange’s educational programmes, the release said.
The agreement will also help in launching new and innovative products, adding more value to the existing commodities value chain and ecosystem, it said.
“The BSE and the BME fully acknowledge and appreciate their strengths, resources, experience and expertise. “Therefore, they feel it expedient to join hands for mutual benefits in pursuit of common goals with the objective of developing and strengthening commodity derivatives market," BSE managing director and CEO Ashishkumar Chauhan said.