ICAI ties up with United Stock Exchange (USE to impart knowledge on currency derivatives

IN a move to impart comprehensive knowledge of financial markets to its members, The Institute of Chartered Accountants of India ( ICAI ) recently signed an MOU with United Stock Exchange (USE). As part of this MOU, members of ICAI will be educated by the USE through seminars, panel discussions and workshops on financial markets and corporate governance. ICAI would provide institutional support and facilitate interactions with its members wherein USE would impart relevant knowledge.

The MOU has been signed for a term of 3 years and would be renewed subsequently on mutual consent. USE was launched recently with record volumes and has been the market leader since launch.

The Institute of Chartered Accountants of India, functioning under the aegis of Ministry of Corporate Affairs, is a statutory body established under the Chartered Accountants Act, 1949 for the regulation of the profession of Chartered Accountants in India. During its more than six decades of existence, ICAI has achieved recognition as a premier accounting body not only in the country but also globally. ICAI now is the second largest accounting body in the whole world.

United Stock Exchange of India Limited, on the other hand, is India’s newest stock exchange for currency derivatives. The exchange offers a better platform to corporate and SMEs for managing forex risk as spread rates in an exchange are better and it does not involve any counter party risk.