MCX to submit detailed blueprint for CSE in a month
Kolkata, Aug 30 (UNI) The Multi Commodity Exchange would draw a detailed revival blueprint for the ailing Calcutta Stock Exchange (CSE) in a month's time.
"We will prepare a report on ways to revive the stock exchange.
It will be completed in a month's time," MCX CEO Jignesh Shah said.
"We have suggested that CSE would require having commodity future and spot commodity market along with equity market," he said.
"Our report will carry details of bottlenecks that require to be sorted out for development of the spot market," Shah said.
The report would be submitted to the West Bengal government.
The move was initiated after Chief Minister Buddhadeb Bhattacharjee requested MCX for reviving the exchange.
Shah said MCX has planned a spot market for potatoes in the state. It has tied up with four cold storages in the districts of Midnapur, Hoogly and Burdwan.
Earlier, consultant Ernst&Young had advocated to the CSE to begin commodity trading to counter the dwindling volume in equity trading.
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