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NISM Familiarization Programme for Directors of National Commodity and Derivative Exchange Ltd (NCDEX)

August 10, 2019 | Mumbai

 

The School for Corporate Governance (SCG) of the National Institute of Securities Markets (NISM) conducted a Programme for the Board of Directors of National Commodity and Derivative Exchange Ltd (NCDEX) on August 10, 2019.

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The objective of the Programme was to familiarize the Board of Directors of the Commodity Exchange, especially the Public Interest Directors, with the recent changes in the SEBI Regulations governing Exchanges, opportunities in Agri Commodities trading and also the challenges in Cyber Security and measures required to tackle these challenges through Business Continuity Planning.

 

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Mr. Ravindra Kumar Roye, Chairman, NCDEX, in his Welcome Address expressed his gratitude to NISM for having organized the event and hoped that the programme would bring value addition to the Board.

 

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Mr S K Mohanty, Whole Time Member SEBI & Director-NISM, spoke at length about the benefits of constant interaction between Market Infrastructure Institutions and the Regulator and was of the view that this process should continue. Mr.Mohanty also touched upon the positive response that NCDEX has been offering to regulatory challenges from time to time.

 

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Mr.Manoj Kumar, Chief General Manager, SEBI made a detailed presentation about the recent amendments to Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2018, which were implemented based on the recommendations of Gandhi Committee Report.

 

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Mr.Jayant Nalwade, Advisor, NCCL and former CRO, NCDEX, discussed in detail about the opportunities available in commodities derivatives trading especially for agricultural commodities and also the challenges which the Exchanges could encounter while expanding their reach.

 

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Mr.M.Sheshadri, Chief Information Security Officer, NSE, spoke about the threats in the Cyber Security space through practical examples and explained how Exchanges have to tackle these challenges through an appropriate Business Continuity Plan (BCP).

 

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Dr V R Narasimhan, Dean, NISM, shared his experience about the Scope and Role of Regulatory Functioning of an Exchange. Dr Narasimhan categorically emphasised that institutions have to develop a compliance culture and such culture would help in expanding the business in the long term.

 

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The programme was well received the Board of Directors and they found it very useful.

 

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Shri M Krishnamoorthy, Member of Faculty, NISM and Ms Seema Nayak, Chief Compliance Officer, NCDEX, delivered the Vote of Thanks.

 

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