"We will have to compute a package for overseas participants. We will also have to decide on what will make the package," Ipsta president Sanjay Maruwala said.

Pending a decision on the package, Ipsta, which runs the international commodity exchange for pepper futures, had deferred a final view on conducting the roadshow to attract better overseas participation in the bourse, he said.

Before the roadshow could be conducted, there were at least two aspects, which required immediate attention, Maruwala said over phone from Kochi.

"In the first place, we are basically looking at the overall infrastructure at the exchange," he said.

It had to be improved drastically, he said.

Maruwala's view of infrastructure is an indirectreference to Ipsta attempts to provide on-line access to trading at the bourse, where currently trading is done through open outcry system.

The other aspect which Ipsta would like to improve was banking laws in the country, Maruwala said.

"We have some outdated banking laws which will have to be changed to attract better foreign participation," he said.

Currently, banking laws allowed clearance by only one branch in a city.

In view of the law, both the clearing institutions of the exchange -- Global Trust and Hindujas-promoted Indusind Banks -- functioning was being affected, he said.

Clearance at both the banks were allowed in the Ernakulam branches in Kochi city but not at Mattancherry branch, from where the bourse operates, he said.

Asked about funds for the roadshow, the Ipsta official said commerce ministry had extended Rs 10 lakh for the roadshow through the spices board.

The roadshow is considered important to draw better foreign participation at the exchange. Till now, only a firm fromthe Netherlands has enrolled itself as a member.

The roadshow was initially planned to be held in April last but it was put off to October only to be put off to next year in view of the south-east Asian currency crisis.

Lack of foreign participation is affecting trade turnover at the exchange. Currently, the turnover is 40 tonnes daily.

Recently, government allowed dollar-denominated trading a the exchange to boost foreign participation.