Published : Wednesday, 18 February, 2015 04:00 PM
Multi Commodity Exchange of India Limited (MCX), India’s leading commodity exchange, has signed a memorandum of understanding with the ICFAI Foundation for Higher Education (IFHE), a deemed to be university, for financial literacy and skill development through various joint educational initiatives.
The agreement is designed to facilitate potential collaboration in training, research, and skill development of market professionals in the field of commodity derivatives. As part of the agreement, IFHE in association with MCX will conduct full-time and part-time certification programmes / events / training and research programmes in commodity derivatives market. The move will also greatly help to foster the concepts of hedging and risk management in the minds of the young generation.
Mr. P. K. Singhal, Joint Managing Director, MCX said, “We are delighted to be associated with IFHE, which has taken the initiative to spread awareness on commodity derivatives market. This alliance will surely go a long way in creating future generations of skilled manpower for commodity markets. This initiative will contribute to the exchange’s ongoing efforts for financial literacy and development of commodity markets in the country and we look forward to such educational initiatives for greater inclusive growth of the commodity derivatives market in the country.”
Dr. J. Mahender Reddy, Vice Chancellor, IFHE said, “We are pleased to be associated with MCX and offer market-focused and skill-based programmes in commodity derivatives for enriching the knowledge of our students. The partnership will help us strengthen other
programmes that we offer to executives, researchers, and academicians who want to intensively examine this area. We are hopeful that the partnership will help us create a chair at our end exclusively looking after commodity derivatives markets in the years ahead.”
Having commenced operations on November 10, 2003, Multi Commodity Exchange of India Limited (MCX) is India’s first listed, national-level, electronic, commodity futures exchange with a market share of 86.81% (January 2015). MCX offers the benefits of fair price discovery and price risk management to the Indian commodity market ecosystem. Various commodities across different segments are traded on MCX. These include bullion, energy, metals and agri-commodities. The exchange has forged strategic alliances with various Indian and international commodity exchanges and business associations.
About ICFAI Foundation for Higher Education (IFHE),
IFHE is a deemed to be university under section 3 of the UGC Act, 1956. It comprises of IBS Hyderabad (Faculty of Management), Faculty of Science and Technology (FST), and Faculty of Law (FOL), IBS, established in 1995, has grown and achieved widespread recognition from business, industry, academic circles, and professional bodies. It is consistently rated among the top B-Schools in India.
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