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Establishment of commodity exchange

CSE submits draft rules to BSEC

FE REPORT | October 12, 2022 00:00:00

Chittagong Stock Exchange (CSE) has submitted the draft rules of the country's first-ever commodity exchange.

CSE Chairman Asif Ibrahim and Director Major (Retd.) Emdadul Islam handed over the draft rules to Chairman of the Bangladesh Securities and Exchange Commission Prof. Shibli Rubayat Ul Islam on Tuesday.

The port city bourse has submitted the draft rules to the BSEC seeking its feedback.

The port city bourse framed the draft rules of its commodity exchange on the basis of interactive feedback from the Multi Commodity Exchange of India (MCX), a project consultant appointed for the CSE's commodity exchange.

Earlier, a delegation comprising the representatives of the CSE, the BSEC and relevant stakeholders also visited the MCX to have ideas regarding establishment of the commodity exchange, said a press release.

The port city bourse also signed a consultancy agreement with the MCX on April 12, 2022 for the establishment of the commodity exchange in Bangladesh.

The CSE said the draft rules has been framed for creating and developing a market that does not exist presently.

"…the CSE had successfully completed the first initiative within six months after signing the MOU with the project consultant MCX," said the CSE release.

In October, 2021 the securities regulator allowed the port city bourse to establish a commodity exchange subject to ensuring consumer rights and all necessary infrastructure facilities.

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