19 October 22, Dhaka:

A 05-persons CSE Commodity Delegation team is visiting this week (17 to 22 October 2022) to their Project Consultant, Multi Commodity Exchange of India (MCX), (India’s largest commodity derivatives exchange) in fortitude of congregation of knowledge. The CSE Delegation team members are Major (Retd.) Emdadul Islam, Director, Mr. Mohammed Mazbah Uddin, DGM & Head of IT, Mr. Md. Mortuza Alam, DGM & Head of TRECH Marketing & Services, Mr. Mohammad Monirul Haque, DGM and Head of Business Promotion and Mr. Md. Faisal Huda, Deputy Manager.

 The team started their visiting tour on 18 October 22 and also warmly welcomed by the MCX team.  At the time of their knowledge sharing visit they will be visiting “Bullion Vault” (the vault service provider) for understanding the standardized delivery system Mechanism for developing the commodity exchange in further. After that, they will also accomplish their visit with the stakes such ” Mutual Fund - for the Discussion on ETF’s and other products”, “Metal Wearhouse - demo of warehousing process conforming to exchange rules “and the “Regulatory infrastructure such CDSL Commodity Repository Ltd.“ and  “Assaying/ testing lab - demo of cotton assaying process”.

The last two days during the visiting week, the delegation team will also be able to have the experience such 'Demo live Trading on Trade Workstation' and will be presented a presentation such 'Warehousing ( Virtual tour of Agricultural warehouse, presentation on process flow for warehousing and delivery)  & Demo of Commodity Receipts Information System (ComRIS )-MCX’s Repository system'.

The main objective of this visit, for gathering practical knowledge in the areas of products, clearing and settlement, trading, warehousing, regulatory aspects, etc. in order to establish first ever commodity exchange in Bangladesh.

Earlier Events:

Submitted Draft Rules to BSEC (Bangladesh Securities and Exchange Commission):

Chittagong Stock Exchange PLC (CSE) has submitted the Draft Rules of setting up the first ever commodity exchange in Bangladesh on 11 October 2022. The draft Rule (proposed to be divided in two phases) for creating and developing a market that does not exist today has been expectantly submitted before the Commission for kind perusal and feedback.

MCX Delegation team visited CSE and other Stakes on September 2022:

 A 4-members delegation team visited the CSE during first-half of September. During their visit they met with the perspective number of CSE TRECHs, Banks representatives and other stakes as well and also completed few awareness and training program. They also met with the Honourable Chairman, Commissioners and other Officials of the BSEC (Bangladesh Securities and Exchange Commission) Besides above, they had fruitful meetings with related associations.

Consultancy agreement signed between CSE & MCX:

Multi Commodity Exchange of India (MCX), India’s largest commodity derivatives exchange, and Chittagong Stock Exchange Limited (CSE), Bangladesh, signed a consultancy agreement on 12 April 2022 to collaborate for establishment of the country’s first commodity derivatives platform in Bangladesh. Under this consultancy agreement, MCX shall assist and provide consultancy services in the areas of products, clearing and settlement, trading, warehousing, regulatory aspects, etc.

About MCX:

Having commenced operations on November 10, 2003, Multi Commodity Exchange of India Limited (MCX) is India’s first listed, national-level, electronic exchange. It is also the first exchange to introduce commodity options in India. During FY21-22, the market share of MCX stood at 93.6% in commodity futures market. 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 the Exchange platform. These include bullion, energy, metals and agri commodities. The exchange has forged strategic alliances with various international exchanges, as well as Indian and international trade associations. For more information, about MCX and its products visit www.mcxindia.com.  

For Details

Tania

CSE-C&PR

Cell: 01760745736