Multi Commodity Exchange of India Ltd (MCX), in association with the Forward Markets Commission (FMC), and Annamalai University-Directorate of Distance Education (DDE), organised a Faculty Development Training Programme at Chidambaram (Tamil Nadu) on Friday, November 28, 2014. It aimed at developing the conceptual understanding and fundamental knowledge of teachers/faculties with respect to Commodity Futures Markets. Moreover, the programme attempted to sharpen the skills of faculty members in commodity futures trading and its rationale of price discovery and price risk management.
While delivering the inaugural address, Dr.N.Panchanatham, Registrar, Annamalai University, discussed about the contribution of commodity markets in the Indian economy. Dr. R. M. Chandrasekaran, Director, Annamalai University-DDE, in his Presidential Address, spoke about the contribution of Commodity Derivative market in India. “Commodity derivatives markets have shown a remarkable growth in India. However, there is a requirement of faculties' at universities and other educational institutions to handle the technicalities of commodity markets and futures trading. Faculty knowledge on subject not only facilitates in spreading but also equips the students to face the challenges in commodity markets,” he added.
Dr. R.Rajendran, Dean, Faculty of Arts Annamalai University in his Special Address, spoke about the need for commodity awareness and training programmes to be organized across India. He further stated, “Such programmes enable and prepare the potential trainers with the necessary knowledge about the commodity derivatives market, so that they in turn can train/create awareness about the market at the grass root level.”
Mr.Rajeesh.R, Manager-Business Development, MCX, explained about the functioning of Commodity Exchanges. During the session, he also discussed about the benefits of commodity futures for trading, and price risk management. He further explained the faculty members about the need and importance of commodity markets in India.
The other prominent speakers at the programme were D.R.K.Vijayarani, Professor and Head-Commerce Wing, Annamalai University-DDE, Dr.M.Thirunarayanasamy, Assistant Professor-Commerce Wing, Annamalai University-DDE, and Mr.Vijayababu, Research Head, Ambalal Multi Commodities (P) Ltd.
It was a wonderful opportunity for the teachers to acquaint themselves with developments in the commodity futures markets in India. Moreover, the programme’s main objective was to enable the Faculty members to carry their interest in commodity markets to guide the commodity value chain participants from time to time.
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 permanent recognition from the Government of India. MCX offers the benefits of fair price discovery and price risk management to the Indian commodity market ecosystem. Various commodities across 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.