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BSE signs pact with Soybean Processors Association of IndiaBSE signs pact with Soybean Processors Association of India
Press Trust of India | New Delhi
Last Updated at February 22, 2018 16:25 IST
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Leading bourse BSE today signed a pact with Soybean Processors Association of India (SOPA) for the growth and development of commodity market and its value-chain participants, enabling them to manage price risk in a better manner in the soyabean oil complex.
The agreement will be beneficial for launching products like soybean, soyoil and soymeal futures trading on BSE, the exchange said in a statement issued here.
BSE and SOPA have made significant progress in their respective areas for the growth and development of the commodity market and will share knowledge and expertise in this regard, the it added.
BSE MD and CEO Ashishkumar Chauhan said, BSE and SOPA fully acknowledge each other's respective strengths, resources, experience and expertise and therefore feel it expedient to join hands for mutual benefits in pursuit of common goals with the underlying objective of developing commodity derivatives market.
BSE (formerly Bombay Stock Exchange), established in 1875, is Asias oldest stock exchange, while SOPA is the only national-level body representing the soybean processors, farmers, exporters and brokers in India working towards strengthening soybean as a viable crop.
Last month, BSE conducted mock-trading for commodity derivatives segment as it prepares itself for the launch of trade in such products.
The platform currently offers trading in equities, equity derivatives as well as currency derivatives.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)