New Delhi :- The Department of Economics, Jamia Millia Islamia (JMI) organized a seminar on “Commodity Derivatives” in association with Multi Commodity Exchange of India Ltd. (MCX) on 11.10.2023  at Conference Hall, Dr. Zakir Husain Central Library, JMI. This seminar was part of SEBI’s Celebration of World Investor Week (WIW). WIW, an initiative of International Organization of Securities Commissions (IOSCO), is celebrated every year, across the world, by the securities market regulators. The week witnesses a host of investor awareness activities across the globe.  WIW – 2023 is being celebrated in India from October 09-15, 2023. Securities and Exchange Board of India (SEBI) is the national coordinator for celebrating WIW-2023 in India.

The seminar commenced with the opening remarks by Prof. Asheref Illiyan, Head, Department of Economics, JMI. He welcomed the keynote speaker, faculty members and students and expressed his satisfaction that Department of Economics, JMI has been fortunate to be part of this great initiative of IOSCO and SEBI.

The key note speaker of the event was Shri C.N. Pandey, Senior Manager, Multi Commodity Exchange of India Ltd. Shri. Pandey commenced his address with expression of gratitude towards the Department of Economics, JMI for hosting of this significant seminar. He initiated the discussion by providing an in-depth exposition of various financial markets, including the capital market, debt market, foreign exchange market (forex), commodity market, and money market, underscoring their intricate interconnections. He further expounded on how perturbations in one market can resonate and reverberate across other markets. Subsequently, he delved into a comprehensive elucidation of various facets of the commodity market.

The lecture also dedicated significant attention to a meticulous examination of risk elements, underscoring the pivotal importance of hedging. The nuanced strategies for managing price risk, including long and short hedging in futures, were dissected. A detailed explanation was provided on the operational mechanisms of the MCX in real-world scenarios. He also touched upon dispute resolution mechanism available through MCX platform He concluded his lecture by presenting an overview of the regulatory framework under SEBI.

The seminar was followed by fruitful question answer session. The event was attended by more than 100 students and faculty members (Prof. Moonis, Prof. Nandan, Dr. Zakaria, Dr. Vasim, Dr. Nadeem, Dr. Shadab and Mr Aqib) from Department of Economics, Commerce & Business Studies and Management Studies. The seminar was concluded with vote of thanks proposed by Dr. Kashif, Assistant Professor, Department of Economics.

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