Question

Explain governing body of commodity market in brief

Answer 1

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Investors access about 50 major commodity markets worldwide with purely financial transactions increasingly outnumbering physical trades in which goods are delivered. Futures contracts are the oldest way of investing in commodities. ... Futures are traded on regulated commodities exchanges.

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Answer 2

The governing body of the commodity markets is the 'Forward Markets Commission' (FMC). It is the major regulator of product futures markets in India. The body operates under the Ministry of Finance and their headquarter's in Mumbai .

Explanation:

• To increase the regulation of the commodity futures market and to make it stronger the FMC was merged with the Securities and Exchange Board of India (SEBI)
• The commodity market trades in the primary economic sector like fruits, sugar, cocoa. It provides an open market for demand and supply of goods and it only takes into account the prices that affect the demand and supply of goods.
• The main function of the governing body is to advise the government in regards to the administration of the Forward Contracts and to make recommendations for improving the systems and working of forwarding markets.

To know more about the Securities and Exchange Board of India (SEBI )

The objective of securities and exchange board of India (SEBI)​

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