FMC may get autonomy in Act amendment
Commodity Online HYDERABAD: In an effort to boost commodity trading in the country, the much-awaited amendments to the Forward Contract and Regulations Act of 1952 will happen during the Budget session of the Parliament.
And, in all likelihood, this will give the apex commodities regulator Forward Markets Commission (FMC) financial and functional autonomy.
FMC and leading commodity exchanges like the National Commodity and Derivatives Exchange are also looking at roping in the services of NGOs, micro finance institutions and banks to promote futures trading among small and marginal farmers.
Anupam Mishra, Director of FMC, told Commodity Online that the amendment of the Act would also help introduce options trading in the market. Besides, FMC will get the status of an autonomous regulator on the similar lines of SEBI, IRDA and TRAI.
MCX SILVER MINI 999 31 August 2012
contract was trading at
Rs 57069 , up Rs. 339 . What's your view on it?
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