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Praveen DG, Chief Risk Officer, MCX, says “when we started in 2019, we were looking for effective ways to be able to reach out to the students who are spread across India. The commodities markets are part of the financial market, it is an integral part of it. In fact, unlike the stock market, these are global in nature. So, every student should know what is happening and he should be a part of this particular market. Comquest was launched as a competition to build up commodities markets knowledge.”

The 6th edition of the MCX IPF Comquest is expected to happen in Mumbai on March 1st. How did the concept of Comquest originate? What was your thought process at that point of time?
Praveen DG: Comquest is the place where curiosity meets the quest of knowledge. So, for anyone, whenever there is a competition, that is where the knowledge is going to build up. So, for every question, if the question is more challenging, the answers are going to be more inquisitive as well and they are going to be more informative. That is how I look at it.

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In fact, when we started in 2019, we were looking for effective ways to be able to reach out to the students who are spread across India. So, while this market is very important and because the commodities markets are part of the financial market, it is an integral part of it.

In fact, unlike the stock market, these are global in nature. Our markets are well connected with the global markets. So, every student should know what is happening and he should be a part of this particular market. So, keeping that one, I was looking at, the team was looking at the ways and means to take it to the hearts of the people, hearts of the students, that is where this idea has come in and the quiz is one thing where the questions will make the students to start looking for the answer, that means the quest will begin.

The search really will continue, so that is how the idea has started and in fact we could be able to continue to this one, kind of response that we have received from the market participants and also the students and especially the colleges, they were very keen to be associated with the with the exchanges, with the other entities to take this market forward.

In fact, one of the important aspects is like we have been encouraging the colleges to take commodities market as part of their curriculum because it is an integral part of the financial market and today as it plays an important role in everybody’s walks of life, it is like making it a part of their curriculum is very important. In fact, we have to take it even to the undergraduates because that is where the beginning will start.Talk to us about what has been the experience so far because this is the sixth edition. Since inception, what has been your experience with respect to Comquest?
Praveen DG: Before even starting tossing this idea of Comquest, in fact, we had several rounds of discussion with the colleges and just to see what kind of interest they have or what kind of interest their students are having in this kind of competition. In fact, the response was really good. In fact, it was encouraging and they are the ones who are behind us to making this Comquest possible.We started in 2019 and then COVID came. But the journey continued.So, there was some offline and there are online as well as back to offline, that is how we could manage it. But we wanted to continue this journey and this all started because of the kind of enthusiasm that we have seen among the students, that is what has driven us forward and we could be able to take it.

Initially we started with a very modest number. But we wanted to go for a big bang approach and that is how we were able to start it with a national level Comquest, commodities derivatives market quiz programme for the students and then there we could able to see participation of some 60 odd academic institutions.

From there on, the journey has taken us to 485 colleges this year. I can say that it is a long journey, but we could be able to complete that one in a very short span of time. In fact, whoever have participated in the first round has reached somewhere about 7,000 and that is a very big number. In fact, now we wanted to take this one further forward, that is why we have taken this one programme.

In fact, we have raised the heat by introducing a new level, a new layer within the Comquest that is zonal finals. We went east, west, north and south and with the help of the colleges and the student coordinators, we were able to successfully conduct this zonal finals and now we are very much eagerly awaiting for the finals.

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