.jpg)
The Institute for Financial Markets (IFM), an affiliate of the Futures Industry Association (FIA), announced today that it has established a joint venture with Multi Commodity Exchange of India (MCX) to develop commodity futures courses and educational content to be delivered throughout India. Courses will be tailored to various stakeholders including investors, traders, corporations, producers/processors, regional trading centers, importers, exporters, co-operatives and industry associations. Cooperation with Kent State University also is planned to accredit certain types of derivative courses(s) so that students will receive a US university-endorsed certificate.
The IFM will provide the educational content, but will use MCX insights to tailor the appropriate programs to meet educational needs most in demand by the Indian market. An IFM/MCX “Steering Committee” on content comprised of MCX representatives Mr. Jignesh Shah, Managing Director and Chief Executive Officer, Mr. Venkat Chary, Chairman, Mr. Lamon Rutten, Jt, Managing Director, Mr. Joseph Massey, Deputy Managing Director, Mr. V. Shunmugam, Chief Economist, and Dr. C. Charkrabarty, Head Training & Consultancy; along with IFM representatives, Mr. Jeffrey Morgan, Executive Vice President, and Mr. Kevin Baldwin, Director of Education and others has been established.
“MCX is a leading commodity futures exchange in India and we applaud MCX’s leadership in making this serious commitment to education”, said IFM’s Jeff Morgan. The announcement of the joint venture is being made in conjunction with the FIA Asia Derivatives Conference 2006 being held in Mumbai, India, October 17-19. IFM Trustee John Damgard, President of the Futures Industry Association, is attending this important industry event.
Mr. Jignesh Shah of MCX noted that, “This venture represents an important step forward in making commodity futures markets better understood and more accessible. MCX has always taken lead in investing in training to develop the commodities market organically and to enable the stakeholders to benefit from the market with full understanding. This initiative aims to take Indian commodities market and its stakeholders to the next level of growth and development on the lines of global market. The IFM is widely respected, and education on risk management will enhance the economics of agriculture and other commodities sector in particular and Indian industry in general.”
The Institute for Financial Markets develops products and services directed to industry professionals, market-users, journalists, academics and those who shape and implement public policy for the financial services industry. The IFM has successfully provided customized education and ethics training to a wide cross-section of market participants from financial firms to exchanges and governments, including the New York Stock Exchange, NYSE/NASD Regulatory Council on Continuing Education, World Bank, U.S. Congress, U.S. Department of Agriculture Risk Management Agency, US Commodity Futures Trading Commission and U.S. Federal Reserve Bank. Also the IFM, in cooperation with Kent State University, sponsors special courses and publishes the Review of Futures Markets, a financial journal issued quarterly. The Review promotes global research and study of financial engineering, derivatives markets and products and includes insightful articles that appeal to a high-level audience including exchange professionals, market practitioners, financial engineers and academicians among others.
