CSE enters software procurement agreement for commodity exchange, derivatives trial likely this year
CSE Managing Director M Shaifur Rahman Mazumdar and Chella Software President Sunil Manglore signed the agreement on behalf of respective companies where CSE board members and senior officials of the both were present.
The Chittagong Stock Exchange (CSE) has signed a software licensing agreement with India's Chella Software today (13 May) for the upcoming commodity exchange's clearing and settlement and risk management systems.
CSE Managing Director M Shaifur Rahman Mazumdar and Chella Software President Sunil Manglore signed the agreement on behalf of respective companies where CSE board members and senior officials of the both were present.
M Shaifur Rahman Mazumdar told TBS that alongside software the CSE is going to procure necessary hardware soon eying a trial of commodity derivatives by the end of this year.
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The software would also enable the port city bourse to launch equity derivatives next year.
Having the rules from Bangladesh Securities and Exchange Commission the CSE is working on its commodities trading regulations that are expected to be finalised soon, according to Shaifur Rahman Mazumdar.
The CSE eyes non-delivery cash settlement futures contracts for any major commodity to begin with and gradually its product range would be expanding.
Unlike spot markets, derivatives let investors buy and sell contracts only for hedging or capital gains.
