Contango Academy opened in Chennai : India

Chennai, Tamil Nadu :

Contango Training and Research Academy, which aims at providing training on financial markets, was inaugurated in Chennai on Thursday by SEBI executive director S K Mohanty.

“BSE, NSE and other exchanges are currently having a few courses. And online brokerages are also offering a lot of educational content. But there is a need for more comprehensive training in the south. There is still a lot of misinformation and instances of mis-selling that occurs, which I’m hoping the training that Contango offers will remedy,” said Mohanty.

“More than 90% of the complaints we receive from customers are that brokers cheated us. With such training, customers can become more empowered and aware of their financial decisions. Brokerage houses also can send their dealers for training so that they are better equipped,” said Mohanty.

With the Indian derivatives market set to open up in the next few months, this an ideal time to open such an academy in the south, said Manoj Suvarna, segment head, commodities and currency, Reliance Commodities Ltd. “Professional brokerage houses like ours could do with refresher courses. And Contango will be fulfilling a niche need in the market,” said Suvarna.

“We are planning to train around one lakh aspirants in the equities, currency and derivatives markets. In today’s world of information overload, content is available at a click of a button. But how to apply that content and how to profit from that content are never taught. So we have basic courses for beginners and advanced courses that will include mock sessions and stimulated trading sessions for aspirants,” said T Murrugappan, CEO, Contago Academy.

Contago Academy said it has more than 50 industry experts, empannelled as faculty, with commodities sector specialist G Chandrasekhar heading it.

source: http://www.timesofindia.indiatimes.com / The Times of India / News Home> City News> Chennai / Rachel Chitra / TNN / October 13th, 2016

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