Spread IOC (Immediate or Cancel) Order in NCDEX

#1
Hi,

I am furnishing hereunder the details of circular issued by MCX in respect of IOC Orders :

QUOTE:

Spread IOC Order Functionality 12 November 2010

Circular no.: MCX/T&S/400/2010 November 12, 2010

In terms of provisions of the Rules, Bye -Laws and Business Rules of the Exchange, and in modification to circular no. MCX/T&S/157/2010, dated May 12, 2010; the Members of the Exchange are notified as under:

Non-compliance charge in case of Spread IOC Orders (originating through any mode) based on the Order to Trade Ratio applicable at Member level is as under:
Daily Order to Trade Ratio Member-wise Charge (Per Order)
Up to 20 NIL
More than 20 up to 40 (On incremental basis) 1 paise
More than 40 up to 60 (On incremental basis) 3 paise
More than 60 (On incremental basis) 5 paise

Further, in case the number of Spread IOC Orders per day per Member exceeds 5 lacs orders but is less than 10 lacs orders and where it exceeds 10 lacs spread IOC orders, the charge levied will increase to two and four times respectively of the charge structure specified in the above table . The charges will be collected on weekly basis.

The revision in charges is effective from November 15, 2010.

Members are requested to take note of the same

M Ramalingam
Vice President

Kindly contact Mr. Dhawal Shah on 022 - 6649 4000 or send an email at [email protected] for further clarification.

UNQUOTE :

I would like to know whether NCDEX also charging similar kind of charges or not?

Your immediate reply will be highly appreciated

Thanks
dipendu