NEW DELHI, SEPT 15: The Department of Consumer Affairs is holding a two-day workshop beginning on September 17 on commodity futures markets. As part of the World Bank project for improving the working of futures markets, upgradation and modernisation of commodity exchange in the country, the workshop will also work towards strengthening institutional capabilities of the Forward Markets Commission.Officers from UNCTAD, World Bank, commodity exchange (domestic and foreign), ministries under the Government of India and banks would take part in the workshop that would be inaugurated by S S Barnala, Minister for Food and Consumer Affairs.The workshop would hold deliberations on the futures policy directions for development of the commodity futures markets in the country, improvement in regulatory framework, assistance to be provided to the commodity exchanges in developing their own strategy and the development of an effective market monitoring and surveillance mechanism to mitigate the risks of marketmanipulation.There will be discussions on managing commodity exchanges with emphasis on the utility of multi-commodity exchange, functions and utilities of the clearing house, warehouse receipt system, role of banks in commodity futures, role of brokers, contract design, role of futures in export etc. There will be speakers from the USA, Australia and Malaysia in addition to experts from India.
