SECP, CFTC launch second training session on commodity futures market

September 10, 2024 (MLN): The Securities and Exchange Commission of Pakistan (SECP) in collaboration with the U.S. Commodity Futures Trading Commission (CFTC) commenced the second training session on the development of the Commodity Futures Market, in Islamabad.

Akif Saeed, Chairman SECP, underscored the vital role that the agricultural commodities market play in Pakistan's economy.

He highlighted the key initiatives taken by SECP, including ongoing consultations with stakeholders aimed at advancing the development of a robust commodities derivatives market.

Chairman SECP further stressed the importance of collective efforts from all stakeholders to create a well-functioning commodities futures market in Pakistan.

He praised Kevin for his invaluable support in facilitating the collaboration with U.S. CFTC, for advancing the commodities market in Pakistan.

Dr. Akmal Siddiq, Advisor for Ministry of National Food Security and Research, commended the SECP for organizing the capacity-building program, which focuses on market development, regulation, and strengthening the commodity futures market.

He also commended U.S. CFTC for providing valuable technical assistance to Pakistan and expressed his gratitude to Kevin Piccoli, Deputy Director at U.S. CFTC, for his support and leading the capacity building initiative.

He expressed hope that trainings and awareness raising will ultimately lead to development of commodities futures markets in Pakistan in the years to come. 

The training session was attended by relevant government functionaries, SECP officials, market intermediaries, agri tech companies and corporates.

Participants explored the need to establish linkages between agricultural commodities markets and the futures market, and the ways to strengthen regulatory frameworks to build investor trust and promote market integrity.

SECP and U.S. CFTC are holding a series of trainings sessions in Karachi, Islamabad and Lahore. First session has already been held in Karachi and was well attended by various stakeholders.

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