Business Desk :
The Chittagong Stock Exchange (CSE) is going to sign an agreement with Multi Commodity Exchange (MCX) of India Limited on Tuesday to establish the country’s first commodity exchange in the hope of ensuring fair prices both for producers and consumers.
The signing ceremony will take place in the capital where Commerce Minister Tipu Munshi will be present as chief guest, said a press release.
The port city bourse has decided to appoint the MCX as a consultant and knowledge sharing partner for successfully establishing the commodity exchange on purpose of macroeconomic development.
According to the Investopedia, a commodities exchange is a legal entity that determines and enforces rules and procedures for trading standardised commodity contracts and related investment products. Commodity exchange also refers to the physical centre where trading takes place. The most traded commodity futures contract is crude oil.
MCX, a commodity exchange based in Mumbai, was established in 2003 by the government of India. MCX offers options trading in gold and futures trading in non-ferrous metals, bullion, energy, and a number of agricultural commodities.
