The Cotton Association of India (CAI) has decided to join hands to work together with the Bombay Stock Exchange Limited (BSE), country’s no 1 exchange and the world’s 10th largest stock exchange.
The BSE is going to launch cotton futures contract shortly and to develop a vibrant futures market in cotton.
With a view to combine efforts in developing a vibrant and user-friendly cotton exchange to cater to the hedging needs of the entire cotton value chain in India, both the BSE and the CAI have decided to sign an MOU which will be effective for the next 5 years.
"It will be the joint endeavour of both the BSE and the CAI to develop an ideal futures trading platform for the cotton in India. This will benefit the entire cotton sector of the country immensely," the CAI spokesperson said.
This MOU will be signed by Atul Ganatra, President, CAI and Ashish Kumar Chauhan, Managing Director and CEO, BSE, on Wednesday at the International Convention Hall, BSE.
This is a milestone moment and adds new chapter in the history of derivatives trading in cotton, the spokesperson added.
