BSE signs an MOU with Soybean Processors Association of India (SOPA)
Mumbai, February 22nd 2018: BSE & SOPA have entered into a MOU for the growth and development of commodity markets and its value chain participants enabling them to manage price risk in a better manner in the soyabean oil complex. BSE & SOPA have made significant progress in their respective areas for the growth and development of the commodities market and will share knowledge and expertise in this regard .This will be beneficial for launching products like soybean, soyoil and soymeal futures trading on BSE in future.
Ashishkumar Chauhan, MD&CEO, BSE said, ‘BSE and SOPA fully acknowledge and appreciate our respective strengths, resources, experience and expertise and therefore feel it expedient to join hands for mutual benefits in pursuit of common goals with the underlying objective of developing Commodity derivatives market’
Davish Jain, Chairman, SOPA said ‘We firmly believe SOPA with its domain expertise and BSE as a trusted institution known for its transparency and huge experience of over 142 years can definitely add value to the development of the entire commodity markets ecosystem”
BSE (formerly Bombay Stock Exchange) established in 1875, is Asia’s first & now the world’s fastest Stock Exchange with a speed of 6 microseconds. BSE is India’s leading exchange group and has played a prominent role in developing the Indian capital market. BSE is a corporatized and demutualised entity, with a broad shareholder base that includes the leading global exchange- Deutsche Bourse, as a strategic partner. BSE provides an efficient and transparent market for trading in equity, debt instruments, equity derivatives, currency derivatives, interest rate derivatives, mutual funds and stock lending and borrowing. BSE also has a dedicated platform for trading in equities of small and medium enterprises (SMEs) that has been highly successful. BSE provides a host of other services to capital market participants including risk management, clearing, settlement, market data services and education. It has a global reach with customers around the world and a nation-wide presence. BSE’s systems and processes are designed to safeguard market integrity, drive the growth of the Indian capital market and stimulate innovation and competition across all market segments. Indian Clearing Corporation Limited, a wholly owned subsidiary of BSE, acts as the central counterparty to all trades executed on the BSE trading platform and provides full novation, guaranteeing the settlement of all bonafide trades executed. BSE Institute Ltd, another fully owned subsidiary of BSE runs one of the most respected capital market educational institutes in the country. Central Depository Services Ltd. (CDSL), associate company of BSE, is one of the two Depositories in India.
The Soybean Processors Association of India, popularly known as SOPA, is the only national level body representing the soybean processors, farmers, exporters and brokers in India working towards the aim to strengthen soybeans as a viable crop.The main objective of SOPA is to encourage the development and promotion of Soy-Based products in the interest of the farmers as well as the processors. SOPA was established in 1979 with its headquarters at Indore in the state of Madhya Pradesh, the main soybean-growing region of India. SOPA is represented on all the important committees, Govt. Bodies, Export Promotion Departments and on various Ministerial advisory committees like Commerce, Foreign Trade, Agriculture, and Foods etc.
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