Mumbai: The Institute for Financial Markets (IFM), an affiliate of the Futures Industry Association (FIA), today announced its joint venture with Multi Commodity Exchange of India (MCX) to develop commodity futures courses and educational content to be delivered throughout India.

Courses will be tailored to various stakeholders including investors, traders, corporations, producers / processors, regional trading centers, importers, exporters, co-operatives and industry associations. Cooperation with Kent State University also is planned to accredit certain types of derivative courses(s) so that students will receive a US university-endorsed certificate.

The IFM will provide the educational content, but will use MCX insights to tailor the appropriate programs to meet educational needs most in demand by the Indian market. "MCX is a pioneer commodity futures exchange in India and we applaud MCX's leadership in making this serious commitment to education", said IFM's Jeff Morgan.

An IFM / MCX steering committee on content comprise has already been set up.

"This venture represents an important step forward in making commodity futures markets better understood and more accessible," said Jignesh Shah, MD and CEO of MCX. He said that MCX had always taken the lead in investing in training to develop the commodities market organically and to enable the stakeholders to benefit from the market with full understanding. "This initiative aims to take Indian commodities market and its stakeholders to the next level of growth and development on the lines of global market," said Shah and added, "IFM is widely respected, and education on risk management will enhance the economics of agriculture and other commodities sector in particular and Indian industry in general."