April 08, 2015
KLRCA Evening Talk Series: Dispute Resolution in Capital & Commodity Markets
KLRCA Talk Series returned in the month of April with a double-header talk titled, ‘Dispute Resolution in Capital and Commodity Markets’ and ‘Intricacies in Capital and Commodity Market Arbitrations and the Need for Exchange Institutionalised Arbitrations’.
The interest in commodity markets seemed to have picked up in recent weeks, as question and answer sessions at the end of the previous two evening talks held in March, led to elements of commodity markets being discussed and debated upon. The heavy torrential downpour did not deter interested parties from filling up the seminar room to witness subject matter experts from India, Dr Dilip Virani and Samir Shah take stage to discuss on various aspects of the dispute resolution mechanism both in the capital and commodities market, before going on to share numerous examples of case laws from different jurisdictions.
Moderating this session was Sabarina Samadi, who specializes in commercial and banking disputes. Upon delivering her introductory remarks, Sabarina introduced Samir Shah, the first speaker to the audience. Samir who is the Chairman of the Global Collaborative Law Council, India Branch; began his presentation with an introduction to stock exchange whilst touching on key aspects on the specialization in securities industries arbitration.
The speaker then moved on to discussing the importance of speed and finality in dispute resolution in capital and commodity markets before proceeding to share with the audience, the current scenario in India where there are eighteen regional arbitration centres to facilitate arbitration hearings. Samir further went on to explicate the four types of disputes referable to Exchange Arbitrations; ‘broker and its constituents’, ‘constituent (broker) and its clearing member’, ’constituent and its sub-broker’, and ‘constituent (investor) and issuer of company’. The first half of the talk concluded with Samir taking the audience through a series of case studies recently documented within India’s jurisdiction.
Next to take stage was Dr Dilip Virani, a certified medical surgeon turned experienced arbitrator who sits on the panel of the National Stock Exchange (NSE), Bombay Stock Exchange (BSE) and the Multi Commodity Exchange (MCX). Dr Dilip’s presentation ensured the attendees were exposed to an exhaustive range of trade related terminology allowing them to have a better grasp of dispute resolution in capital and commodity markets. In addition to a structured breakdown on Capital and Cash Markets, Futures and Options, and derivatives, Dr Dilip also touched on Exchange Rules, Regulations and Bye-Laws.
The evening talk session soon drew to a highly satisfactory close with Sabarina moderating the question and answer session. A fellowship at the terraces of KLRCA’s pavilion garden soon followed as attendees and presenters took the opportunity to discuss and network further.