The Bombay Stock Exchange (BSE) on Tuesday said it has signed a memorandum of understanding (MoU) with the Federation of Indian Spice Stakeholders (FISS) for the growth and systematic development of commodity derivatives market for spices.

“An MoU has been signed between the two as BSE will soon enter the commodities markets and FISS as an organisation will provide BSE the necessary inputs of the industry,” the exchange said in a statement.

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Both the parties to the agreement will coordinate and work jointly in the initiatives to deepen the understanding of commodity market amongst stakeholders, it said.

“BSE and FISS fully acknowledge and appreciate their strengths, resources, experience and expertise, therefore they feel it is expedient to join hands for mutual benefits in pursuit of common goals with the objective of developing and strengthening Commodity derivatives market,” said Ashishkumar Chauhan, MD and CEO, BSE.