November 5, 2003	Wednesday	Ramazan 9, 1424

ISLAMABAD, Nov 4: The representatives of National Futures Association (NFA) and Commodity Futures Trading Commission (CFTC) of USA have assured Pakistan of their assistance in training commodities regulators and regulating cross-border activities.

They made this offer during their talks with the Chairman of Securities and Exchange Commission of Pakistan, Dr Tariq Hassan who had gone to USA to attend the International Symposium on Derivative Products, Markets and Financial Intermediaries.

The event was sponsored recently by CFTC in conjunction with the Federal Reserve Bank of Chicago, says a SECP press release.

The SECP chairman informed them about the establishment in Pakistan of National Commodity Exchange Limited (NCEL) and his intentions relating to its operationalization.

During discussions on foreign futures and options trading by illegal, unauthorized and fraudulent brokerage and forex companies in Pakistan, the US officials also indicated they would be pleased to investigate any matter relating to illegal, unauthorized or fraudulent commodity trading activity in the US brought to their attention by SECP.

They would also explore the possibility of entering into a formal Memorandum of Understanding with it for the purpose, the SECP chairman was also assured.