Commodity Online
CHENNAI: Anticipating a big shortage in skilled manpower in the commodity sector, the Forwards Markets Commission (FMC) has mooted the idea of tying up with universities to promote commodity Futures trade.
The FMC, which together with the national exchanges held a meeting of the members of the exchanges of the south zone on Friday, proposed that the All India Council for Technical Education should play a promotional role by designing courses for training manpower.
Tie-ups with various educational institutions or incorporating a subject on the Futures markets has also been proposed so that even professionals in various fields could gain knowledge of the commodity Futures markets.
FMC chairman B C Khatua said a training programme of three modules has been recommended that could include general awareness training for farmers, processors and exporters about the exchanges.
He felt there was need to ensure greater participation in the market as well as more stringent and responsive regulation that would increase the confidence of market participants and maintain financial integrity in the markets.
The passing of the FC (R) Act Amendment Bill would go a long way in achieving this objective.
Foreign players should be allowed in exchanges for actual hedging and not for investments till the commodity future markets stabilize, he added.
He said any shortcuts to maximise brokerage revenue would not only lose the members their clients but also put the credibility of the market in jeopardy.
