Good News for Indian commodity traders

#1
Its a good news that Indian exchanges are getting more closure to International Exchanges uniform Transaction cost structure.

NCDEX introduced uniform charges of Rs.3.00 per lac of value of all trades in all commodities from 10.00 a.m. to 3.30 p.m. and of Rs.0.05 per lac of value of all trades in all commodities after 3.30 p.m. till end of trading.

Hope it will help us in doing evening trade. Lets hope MCX also replies with such Transaction cost reduction to help the Great Indian jobbing segment. :) :)
 

drpsiva

Active Member
#3
Its a good news that Indian exchanges are getting more closure to International Exchanges uniform Transaction cost structure.

NCDEX introduced uniform charges of Rs.3.00 per lac of value of all trades in all commodities from 10.00 a.m. to 3.30 p.m. and of Rs.0.05 per lac of value of all trades in all commodities after 3.30 p.m. till end of trading.

Hope it will help us in doing evening trade. Lets hope MCX also replies with such Transaction cost reduction to help the Great Indian jobbing segment. :) :)
Finding the National Commodity & Derivatives Exchange (NCDEX) guilty of violating regulatory norms, the Forward Markets Commission (FMC), the commodity markets regulator, has asked the exchange to withdraw the circular on reduction of transaction charge immediately.

The FMC spokesperson told Business Standard that the regulator’s final decision, penal charges, if any, has been kept in abeyance for the time being and will be taken in due course. Till then, the exchange circular will remain suspended.

According to sources, the regulator may also ask NCDEX to reverse the relaxation in charges on the transactions already done if required. The exchange may have to compute uniform transaction charges at Rs 3 per lakh for the business transacted after December 30 across the trading day which the exchange had reduced to Rs 0.05 per lakh of value of trades after 3.30 pm of trading session through a circular on December 29.


c&p business standard ; 02.01.2009
 

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