The Hindu Business Line : BCE plans to woo brokers into commodity futures

THE Bombay Commodities Exchange Ltd plans to encourage brokers to extend their activities to the futures market and in this regard it will hold a meeting of commodity brokers across the country on September 18 in Mumbai.

The exchange is commemorating the completion of 75 years of service to the oilseeds sector this year.

BCE (formerly, Bombay Oilseeds and Oils Exchange Ltd), which facilitates futures trading in 21 oilseed-based commodities through the electronic trading platform, is offering concessional membership to professional brokerage houses who could cater to the needs of corporates and trading houses engaged in commodity trading.

The brokers meet is expected to enlighten the community of trade intermediaries in the spot market about prospects in the futures section. A discussion on issues such as taxation, stamp duty, delivery procedure and dispute settlement through arbitration has also been planned, BCE said in a release.

Experts in the field of taxation, legal matters and international dealings will address the gathering which will discuss crop and price situation in the domestic and international markets.

BCE is awaiting approval from the Government for setting up a national multi-commodity exchange.

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