MEX Nepal gets membership of SAFE

Mercantile Exchange Nepal Ltd (MEX Nepal) -- the only ISO 9001:2008 certified commodity exchange -- is affiliated with South Asian Federation of Exchanges (SAFE) under the affiliate membership.

"The membership with SAFE is a result of continuous support from Securities Board of Nepal (Sebon) and Nepal Stock Exchange (Nepse)," according to the MEX Nepal that is the first commodity exchange in Nepal to get such an affiliation.

"Our affiliation with SAFE shows our services and parameters are equal to global standards," it claimed.

SAFE is a forum of 24 member entities of South Asian Region, UAE and Mauritius. The federation has provided a platform to share, exchange and promote the technologies, experiences for the rapid growth and development of capital market and work towards the regional as well as global integration.

On November 5-8, the SAFE has organised a SAFE Executive Leadership Forum meeting in Tashkent, Uzbekistan.

The programme featured a mix of lectures and case studies to be delivered by highly accomplished leaders both from the academic and corporate sector having education and training from institutions like Harvard, Yale, LSE and Wales.

Besides the high class training, it had also exposed the participants to the rich cultural and historical landscape of Tashkent.

Similarly, SAFE held its third conference on April 22 in Balaclava, Mauritius.

The event hosted by MCX Stock Exchange (India) and Global Board of Trade (GBOT) Mauritius was attended by Adnan Afridi, chairman of SAFE and more than 100 prominent experts from the financial markets and from exchanges of the South Asian region. A ten-member delegation led by Nepse chairman Tanka Prasad Paneru took part in the third SAFE conference.

Comen launches new contracts

Commodities & Metal Exchange Nepal Ltd (Comen) has launched new contracts in order to cater to the investment needs of its clients. "We have added new sizes of gold, natural gas, crude oil and zinc," said the Comen. "Besides the existing one-kg and 100-gm gold contracts, we have launched a new gold contract of 500-gm," it said adding that it has also launched a new 1,250 mmBTU natural gas contract along with two new crude oil contracts with the size of 300-barrel and 50-barrel.
"Under zinc, we have launched a new five-tonne zinc contract," said the first state-of-the art exchange in Nepal.
Comen was the only exchange in Nepal to have such investment and technical support from the commodity relevant institutions until some time ago. Currently, there are three commodities exchanges.
Mercantile Exchange Nepal Ltd (Mex) and Nepal Derivative Exchange (NDEX) are the two other exchanges for commodity & futures markets.
These are the platform for the futures that is primarily intended for hedging and speculation. Contracts in futures market result mostly in cash settlement and do not frequently result in delivery.
With the establishment of Mex, new investment sector has been generated where investors can mitigate their risk in different commodities ranging from precious metals, energies to agro-products.

MEX receives guest
KATHMANDU: Deputy Minister for Child Development and Women’s Affairs of Sri Lanka visited Mercantile Exchange Nepal Ltd (Mex) to know about the operational set-up of futures market in Nepal. MLAM Hisbullah, who landed in Nepal on Monday on an official visit, went to the exchange. Hisbullah took time from his busy schedule and met Dipendra Khatiwada, MD and Mr Jitesh Surendran, CEO of Mex to understand the functioning of MEX in Nepal. Hisbullah also visited Nepal Spot Exchange (NSE).