Mumbai, June 14, 2016: Multi Commodity Exchange of India Limited (MCX), India’s leading commodity exchange, and Mandsaur University, an UGC recognized private multi-institutional university, situated in the Malwa region of Madhya Pradesh, have signed a memorandum of understanding (MoU) for promoting financial literacy among its students. The initiative is directed toward imparting education on commodity price risk management and derivatives market, and will foster empowerment of the students through several efforts toward financial-skill development.
The MoU, is the tenth signed by MCX with various educational institutions. It shows the exchange’s commitment toward financial literacy in commodity derivatives and its endeavour towards a broader reach. Keeping that in mind the exchange also offers the flagship MCX Commodity Certified Professional programme examination in three languages—Gujarati, Hindi, and English.
Speaking on the development, Mr. Mrugank Paranjape, MD & CEO, MCX said, “A university is the best place to tap young minds and open before them the boundless possibilities of commodity derivatives market by helping them acquire the required skillsets. Going by the industry- oriented approach of Mandsaur University, one of the well-known private universities in central India, MCX is sure that this synergy will add to its outreach and capacity development efforts in a large way.”
Mr. Narendra Nahata, Chancellor, Mandsaur University said, “Financial markets have significantly contributed to the development of the Indian economy and so has MCX in playing a pivotal role in developing commodity markets in India. We believe that current knowledge, its application, creativity, teamwork, leadership skills and the lifelong ability to learn are most critical. Practical skills are the need of the hour. At Mandsaur University, we make sure that education stays relevant, applicable and creates a thirst for more knowledge. This association between Mandsaur University and MCX will be extremely useful for budding financial market students who will immensely gain through the innovative professional programmes (like the MCCP) of the exchange.”
About MCX:
Having commenced operations on November 10, 2003, Multi Commodity Exchange of India Limited (MCX) is India’s first listed, national-level, electronic, commodity futures exchange with permanent recognition from the Government of India. In the financial year 2015–16, the market share of MCX was 84.30%. MCX offers the benefits of fair price discovery and price risk management to the Indian commodity market ecosystem. Various commodities across segments are traded on MCX. These include bullion, energy, metals and agri commodities. The exchange has forged strategic alliances with various Indian and International commodity exchanges and business associations.
