The securities regulator is likely to start the task of formulating the rules required for running the commodity exchange in January next in a bid to minimise the risks of the local commodities, the officials said.
The assurance of formulating the rules comes from a top official of the Bangladesh Securities and Exchange Commission (BSEC).
"Presently, the securities regulator is working to bring amendments in public issue and rights issue rules. After completing this job we will stretch hands to formulate the commodity exchange rules," said the BSEC official asking not to be named.
He said in January the demutualisation of the stock exchanges will also be completed and then the securities will have time to formulate the rules for introducing the commodity exchange.
A commodity exchange is an exchange where various commodities and derivatives products are traded.
In most commodity markets across the globe, the agricultural products and other raw materials like wheat, barley, sugar, maize, cotton, cocoa, coffee, milk products, pork bellies, oil, metals, etc are traded.
Meanwhile, the definition of the commodity exchange has been included in the Securities and Exchange Act 2012.
The section 32 (A) of the SEC Act reads: The business of Commodity Futures Contract or Options Contract, in the Commodity Exchange, shall be regulated in such manner and on payment of such fees and charges as may be prescribed.
Two entrepreneurs have also applied to the securities regulator seeking permission.
One of them has said that they have completed the relevant feasibility study for running the commodity exchange.
"The parliament has done its job and we have also conducted the job in our end. Now the securities regulator will have to do the job of middle point," said an entrepreneur interested to run commodity exchange.
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