The
Tea Auction Limited, Kolkata has been given an extension for a
period of four months beyond February 28, 2003 to facilitate futures
trading in tea. The United Planters Association of Southern India
(UPASI), Coonoor is in the process of making necessary infrastructure
facilities for futures trading in tea. Arrangements like software
and hardware were finalised last year and discussions were held
with Tea Board and M/s. ACCENTURE ( a leading software company)
for dissemination, software programme and customization of trade
engine. Draft by-laws and business plan would be finalised by
this month end. The Association proposes to organise trading programme
through IIPM, Bangalore and have its office at Kochi and install
terminals at Coonoor and Kolkata. UPASI is also in the process
identifying the international Clearing Member.
