As I said earlier.
Upstox silently increased brokerage for small value orders from 0.01% to 0.05% or 20 whichever is lower. Zerodha effect.
Looks more like MCX effect, losses of Crude longs have yet to come out in the open. Who faced the losses and to what extent.. nobody really knows.
How many MCX brokerages to close down ??
Singapore Oil Trading Billionaire Admits Hiding Huge Futures Losses
One of Asia's largest oil shippers has sought protection against liquidation from 23 of the world's biggest banks amid revelations of its founder's cover-up.
Also worrying the business community is the collapse of the city's oil trading giant Hin Leong Trading, or HLT. The company has filed for protection against liquidation, blaming the recent crash in oil prices.
Oh, and HLT's billionaire founder, O.K. Lim, admits he covered up the small matter of US$800 million in oil futures losses over the years.
HLT on Friday filed for a debt moratorium, which gives it 30 days of protection from the 23 banks to which it owes US$3.85 billion. Its creditors list is a Who's Who of Asian and European lending.