Keshab Prasad Acharya, Senior Economic Advisor, Ministry of Finance
I am pleased to know that MEX is entering the successful third year of its operation. At this moment, what impresses me is the fact that when the macroeconomic performance is not that satisfactory and the overall economy is increasingly becoming a victim of political myopia, MEX came forward with a new hope by introducing futures market in Nepal. This opened a new vista for aspiring young entrepreneurs and investors. It also contributed in expanding the country's tax base.
I wish that MEX get success in elevating the confidence of our young and talented generation upon the bright prospect and potential of the Nepali economy. Let MEX lead by example in the sphere of corporate good governance and also in the area of discharging corporate social responsibility. I am looking forward for the day when the commodity trading in Nepal is fully integrated with the accelerated development of our agricultural sector.
On the eve of its third year of operation, I urge MEX to take a lead in developing a modern, state of the art, public warehousing system all across Nepal. Finally, I extend my best wishes for further development and expansion of a well functioning, transparent, and accountable futures market in Nepal.
South Asian Federation of Exchanges (SAFE)
"On behalf of the South Asian Federation of Exchanges (SAFE), we would like to present our appreciations and felicitations to Mercantile Exchange Nepal Limited for successfully completing two years of development and rapid progress. This is indeed a worthy achievement and SAFE Secretariat would like to present its warmest compliments to the entire management of MEX Nepal on this landmark occasion. It gives SAFE a great pleasure to announce MEX Nepal's inclusion in SAFE family as Affiliate Members. MEX Nepal boasts a short yet proud history of growth and advancement in a mere two years by coming up as the only online commodity futures exchange in Nepal. We at SAFE are confident that MEX Nepal shall continue to move forward in the same fashion and achieve many more milestones of success in the coming years.
On this auspicious occasion of your second anniversary, while you take pride in the past and look forward to build the future, we would like to reiterate your significant role towards development and integration of financial markets in South Asia. We are indeed thankful for your initiative and commitment of joining the platform of SAFE to contribute towards the cause of regional harmonization and mutual cooperation and would like to assure you of our continuous support and dedicated commitment for promoting all and any endeavors for the betterment and progress of development of financial markets in Nepal and South Asia. We would also like to applaud your involvement and participation in SAFE's activities and continue to look forward to your stronger presence in all our forums.
Once again, on behalf of all SAFE members, Executive Committee, Secretariat and our Secretary General, Mr. Aftab Ahmad Ch., we would like to wish MEX Nepal a Happy Second Anniversary. We feel privileged to share this historic event and hope to continue excellent partnership in the future."
Janak R. Shah, Ph D, President, Management Association of Nepal.
It is my pleasure to congratulate Mercantile Exchange Nepal Limited (MEX) on the occasion of second anniversary celebration of its operations. I feel pride that MEX has successfully traversed its journey in futures exchange specializing in commodities trading in Nepal.
It has endeavoured to substantiate its contribution in upgrading MEX currently offers trading in 14 commodities i.e. gold, silver, copper, crude oil, heating oil, natural gas, coffee, cotton, wheat, sugar, corn, cocoa, soybean and soybean oil.
Since its inception MEX has been a market leader by providing the best trading platform for investors and is the one and only ISO certified commodity exchange in Nepal. In a short span of time, MEX has achieved milestones in leaps and bounds and its growing clientele base is proof of that.
I believe that this 2nd Anniversary of MEX could be a memorable milestone as Asian way of management. I wish for a grand success of this celebration event. I am confident that MEX will generously contribute to substantiate in Nepalese economy in the time to come.
Madan Lamsal, Chairman, New Business Age
Congratulations ! for successfully completing two years & Entering into third year of operations.
We look forward for every success of your future endeavour's.
Suman Joshi, Chief Executive Officer
On behalf of Laxmi Bank family I extend our warm wishes and congratulations to Mercantile Exchange (MEX) for completing 2 successful years of operation.
Laxmi Bank is privileged to have played a small role in the development of the commodities market in Nepal by way of providing online banking platform to the entire MEX ecosystem including the Clearing Members, Non Clearing Members and Clients.
Despite the prevailing challenges in the commodities market, growing number of investors and increase in trade volumes indicate that this is a high growth industry and requires regulations which will safeguard the interests of all stakeholders. We urge the government to expedite setting up appropriate regulations. Furthermore, Laxmi Bank is committed to supporting MEX and the Investors by providing safe, reliable, user friendly and technology driven banking services that will help improve efficiency and support growing volumes in the commodities market.
Thank you and best wishes for your future endeavors.
Bir Bikram Rayamajhi, Former Deputy Governor, Nepal Rastra Bank
It is my pleasure to congratulate the Mercantile Exchange Nepal Limited (MEX), as it celebrates its 2nd Anniversary. The immense pride your organization must feel in achieving this milestone is understandable, as may of us are aware of the fact that the initial years of any business are the most challenging. The innovativeness and foresight displayed by the individuals integral to the formation of this organization are impressive.
Statistics reveal that investors are in search for new investment alternatives as country's only one stock exchange is in recession. At this verse, MEX provided as grand international platform for investors to capitalize their assets through online trading. This therefore highlights the critical need for an organization such as yours. It is heartening to see a new trend emerging, whereby investors are striving for a healthier investment. I implore those of enthusiastic investors who have not caught on to this trend, to do so. I wish for the MEX Nepal continued growth and success in the ensuing years.
Surendra Bir Malakar, President, Nepal Chamber of Commerce
On behalf of the Nepal Chamber of Commerce (NCC) and myself, I would like to congratulate the Mercantile Exchange Nepal Limited (MEX) for its overwhelming success within one year's short span of time in commodity futures exchange in Nepal and wish to convey warmest greetings for its further success in the days to come.
Agriculture remains Nepal's principal economic activity, employing 80 percent of the population and contributing about 40 percent in GDP. There is, however, a need to move agriculture to a market system of economy. This requires agriculture to be organized just like the industrial and service sectors of Nepalese economy. Against these backdrops, MEX is doing its best in trading various agricultural and other commodities such as cash crops, food grains, vegetables, spices, oil seeds, metals & bullion in a way how market system of economy operates.
I am very pleased that MEX is applying new approaches of doing business that will enable us to build new Nepal. For instance - a farmer raising corn can sell a future contract on his corn, which will not be harvested for several months, and guarantee the price he will be paid when he delivers; a breakfast cereal producer buys the contract now and guarantees the price will not go up when it is delivered. This protects the farmer from price drops and the buyer from price rises.
As the prime objective of Nepal Chamber of Commerce is to assist in the economic development of the country through the promotion and protection of commerce and industries, it is a matter of pride for us to support and promote the businesses like yours in different means and ways.
I hope, by the next few years, MEX will be able to expand its product offerings, increase its business volume and place itself as a renowned company in the global map of commodity futures exchange.
Finally, on the occasion of its second anniversary, I wish MEX to be an eminent business not only for itself but also for the nation in order to help achieve its cherished mission of transformation.