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New lease of life for DSE in commodities trading
New Delhi, Mar 02: Aiming a new lease of life, the Delhi Stock Exchange (DSE) has set up two working groups for kickstarting the commodities trading soon.
New Delhi, Mar 02: Aiming a new lease of life, the Delhi Stock Exchange (DSE) has set up two working groups for kickstarting the commodities trading soon.
The DSE board, in an emergency meeting on Saturday formed two working groups - advisory and working - with a strength of 10 and 8 members respectively, DSE director Vijay Bhushan told PTI here.
"Soon after the government decision to allow trading in commodities, the DSE avail the opportunity to revive the almost tradeless bourse," he said.
Both Bhushan and DSE executive director P L Singal would be there in the two working groups for ensuring smooth and fast functioning of the system, he added.
He expressed hope that the board's approval would get a nod from the extraordinary general meeting slated to be in the last week this month.
The EGM, among other things, would seek to amend the DSE memorandum of association for facilitating the operations of the new entity for commodities trading, he said.
It is learnt that the exchange has already taken up the matter with the concerned ministry as the DSE, with its busines ticking "zero" in this fiscal, was all out to grab the opportunity.
Government has recently allowed futures trading in 54 commodities, including wheat, rice, gold, silver, copper, oilseeds and pulses.
Bhushan said the proposed trading has come as a "shot in the arm", as the northern belt has inherent market potential for certain commodities, especially in gold.
Bureau Report
"Soon after the government decision to allow trading in commodities, the DSE avail the opportunity to revive the almost tradeless bourse," he said.
Both Bhushan and DSE executive director P L Singal would be there in the two working groups for ensuring smooth and fast functioning of the system, he added.
He expressed hope that the board's approval would get a nod from the extraordinary general meeting slated to be in the last week this month.
The EGM, among other things, would seek to amend the DSE memorandum of association for facilitating the operations of the new entity for commodities trading, he said.
It is learnt that the exchange has already taken up the matter with the concerned ministry as the DSE, with its busines ticking "zero" in this fiscal, was all out to grab the opportunity.
Government has recently allowed futures trading in 54 commodities, including wheat, rice, gold, silver, copper, oilseeds and pulses.
Bhushan said the proposed trading has come as a "shot in the arm", as the northern belt has inherent market potential for certain commodities, especially in gold.
Bureau Report