Dear Investor,
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 clients to maintain a single financial balance for all exchanges and enable them share real time margin between the exchanges they wish to trade on. Clients will also be able to easily switch over to commodity markets after the capital markets close.
Please note that this change comes into effect on "5th November 2018". And to ensure that the transition is smooth, it is mandatory for clients to complete the formalities listed below on or before 31st Oct, 2018
1. Please log in to PRISM and click "CONSENT LETTER" button located towards top center of the webpage.
2. On the next page you will be asked to review the information and click "SUBMIT".
3. 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.
4. Once the consent letter is Esigned, you will receive a confirmation SMS from our side.
After we have received the Esigned or physical consent, we will take the following steps on 3rd Nov 2018 :
1. 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
2. And, at the same time, all your available balance in Finvasia India Pvt Ltd will be transferred to your trading account in Finvasia Securities Pvt Ltd
In case you do not Esign or send a physical consent letter on or before 31th Oct 2018 :
o 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 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.
o 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 will 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 will be extending its zero brokerage services to all clients who wish to trade on the exchange. Clients will be able to open an account on NCDEX after 5th November with Finvasia Securities Pvt Ltd. They will benefit from trading on all exchanges NSE, BSE, MCX & NCDEX from a single trading account 5th November onwards.
We hope these changes prove beneficial to all our clients and further reduce compliances.
In case of any query, please reach your RM, Client Support or our Live Chat agents.
FINVASIA
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