Multi Commodity Exchange of India Ltd. (MCX) conducted a seminar on commodity futures market and price risk management for bullion stakeholders, on October 17. Also explained in the programme was the important role that commodity exchanges play and how to hedge the price risks.

The programme was jointly organized by MCX, the Coimbatore Jewellery Manufacturing Association, Coimbatore Jewellers Association, and the Coimbatore Bullion Association.

Experts from MCX explained the importance of Know Your Customer (KYC), Member-Client Agreement and other relevant documents. Participants were taught about the importance of margin, payment mode, contract note, investor grievances, and arbitration procedures.

Speaking to the participants, T.G. Senthilvelan, the Assistant Vice President-Business Development of MCX, talked about the benefits of gold futures contracts offered by the company. These contracts are available in denominations varying from one kg to as low as one gram. He expressed his hope that the participants will make use of the Exchange platform to hedge their bullion price risks.