Dear TJ Members,
We are glad to inform that Finvasia has received approval to merge its MCX membership with the Capital Market Membership under a single entity. This will allow our clients to trade on commodity and equity exchanges (namely NSE and BSE) from a single trading account.
This unified trading account will allow our clients to share a single financial balance for all exchanges and will allow a real time margin sharing between the exchanges they wish to trade on. For example, clients will also be able to utilize all available margin in NSE towards trading in MCX after the capital markets close.
Please note that this change comes into effect on “5th November 2018”. To ensure that the transition is smooth, it is mandatory for clients to complete the formalities listed below on or before 31st Oct, 2018
Furthermore, we’d also like to announce that Finvasia has received NCDEX membership and we will be extending our zero brokerage services to all clients who wish to trade on the NCDEX exchange. Just like MCX, you will be able to share your entire ledger balance with NCDEX and vice versa. Clients will be able to open an account on NCDEX after 5th November with Finvasia Securities Pvt Ltd.
You will be able to trade on all exchanges NSE, BSE, MCX & NCDEX from a single trading account 5th November onwards.
We hope these changes will prove beneficial to all our clients and will further reduce compliance and operational issues.
In case of any query, please reach your RM, Client Support or our Live Chat agents.
Thanks, FINVASIA
We are glad to inform that Finvasia has received approval to merge its MCX membership with the Capital Market Membership under a single entity. This will allow our clients to trade on commodity and equity exchanges (namely NSE and BSE) from a single trading account.
This unified trading account will allow our clients to share a single financial balance for all exchanges and will allow a real time margin sharing between the exchanges they wish to trade on. For example, clients will also be able to utilize all available margin in NSE towards trading in MCX after the capital markets close.
Please note that this change comes into effect on “5th November 2018”. To ensure that the transition is smooth, it is mandatory for clients to complete the formalities listed below on or before 31st Oct, 2018
- Please log in to PRISM and click “CONSENT LETTER” button located towards top centre of the webpage.
- On the next page you will be asked to review the information and click “SUBMIT”.
- Once you submit, you will be required to Esign the consent letter using Aadhaar. In case you don’t have Aadhaar or do not wish use it, kindly download and print the page and send us the original signed copy at our Chandigarh Corporate Office before 31th Oct 2018.
- Once the consent letter is Esigned, you will receive a confirmation SMS from our side.
- At the end of trading day of 2nd Nov 2018, MCX will automatically transfer all your open positions from Finvasia India Pvt Ltd to Finvasia Securities Pvt Ltd
- And, a the same time, all your available balance in Finvasia India Pvt Ltd will be transferred to your trading account in Finvasia Securities Pvt Ltd
- You will be asked to close your open positions, if any before EOD 2nd Nov 2018 and you will not be able carry on any positions post 2nd of Nov. In these particular cases, where we do not receive the consent letter, we shall be refunding all your final balance back to your designated bank accounts on 3rd Nov 2018 since your account at Finvasia India Pvt Ltd will be closed.
- And if you miss the deadline to submit a consent letter, you will be required to open a new trading account in MCX with Finvasia Securities Pvt Ltd after 5th Nov 2018 to begin trading in MCX. Please note that there be no effect to your NSE, BSE positions and balances in Finvasia Securities Pvt Ltd.
Furthermore, we’d also like to announce that Finvasia has received NCDEX membership and we will be extending our zero brokerage services to all clients who wish to trade on the NCDEX exchange. Just like MCX, you will be able to share your entire ledger balance with NCDEX and vice versa. Clients will be able to open an account on NCDEX after 5th November with Finvasia Securities Pvt Ltd.
You will be able to trade on all exchanges NSE, BSE, MCX & NCDEX from a single trading account 5th November onwards.
We hope these changes will prove beneficial to all our clients and will further reduce compliance and operational issues.
In case of any query, please reach your RM, Client Support or our Live Chat agents.
Thanks, FINVASIA
Hye FINVASIA, i have a question. When I submit 6 month bank statement for account opening with you, is it necessary that it should be same bank account that I want to attach to trading account for fund transfer ??or i can submit statement of one account and provide details of other one which is recently opened for fund transfer??