Mumbai, December 11, 2017: Multi Commodity Exchange of India Limited (MCX), India’s leading commodity exchange, and University of Petroleum & Energy Studies, (UPES), Dehradun, have signed a memorandum of understanding (MoU) to bring in another facet of financial literacy among the students of the university. UPES is well known as India’s first energy university and Asia’s first energy & core sector university. The initiative aims at building and imparting knowledge to future energy managers of the economy on modern tools of risk management for managing commodity price risk especially that the oil and gas industries are faced with. It will empower and open up new vistas for the students, endeavouring towards financial-skill development.
MCX has signed MoUs with several educational universities and institutions in the recent past, and this initiative would further add to the educational efforts of the exchange and help widen the reach as well as build a knowledge base on price risk management among the future stakeholders of the industry.
As part of another educational initiative, the exchange now offers the flagship MCX Commodity Certified Professional (MCCP) programme examination in three languages—Gujarati, Hindi, and English.
Mr. Mrugank Paranjape, Managing Director & CEO of MCX said, “The initiative will further strengthen our efforts in not only spreading awareness about commodity derivative markets, products, participants, and the process of risk management among the students but also extensively helping in the creation of future generations of skilled commodity market professionals that will help future businesses remain competitive. With the introduction of commodity options last month, multiple instruments will be available to risk managers.”
Dr. D.N. Pandey, Director of the School of Business said, “This MoU aligns with UPES’s vision of developing professionally competent talent with strong industry focus. This initiative will open several opportunities for our students and faculty members to develop expertise in commodity derivatives.”
About MCX
Having commenced operations on November 10, 2003, Multi Commodity Exchange of India Limited (MCX) is India’s first listed, national-level, electronic, commodity futures exchange with permanent recognition from the Government of India. It is also the first exchange to introduce commodity options in India. In the financial year, 2016–17, the market share of MCX was 90.37%. MCX offers the benefits of fair price discovery and price risk management to the Indian commodity market ecosystem. Various commodities across segments are traded on the Exchange platform. These include bullion, energy, metals and agri commodities. The exchange has forged strategic alliances with various international exchanges, as well as Indian and international trade associations. For more information about MCX and its products visit www.mcxindia.com.
About University of Petroleum & Energy Studies, (UPES) – Dehradun
UPES was established in 2003 through the UPES Act, 2003, of the State Legislature of Uttarakhand. With an ambitious vision and unique approach, UPES emerged as an innovative institution offering industry-focused specialized graduate, post-graduate and doctoral programmes in key areas, such as energy, infrastructure, transportation, information technology, design, planning and architecture, public policy, and legal studies. The university endeavours to be recognized as a ‘Nation Builder University’ with a progressive vision of creating specialized professionals in the core sectors that contribute in the economic growth of the country. For more information, visit www.upes.ac.in