India’s second largest commodity trading platform, has slashed transaction charges in non-deliverable commodities following approval to introduce “differential transaction charges” by the derivatives market regulator the Forward Markets Commission (FMC).
With this effect, NCDEX will charge Rs 1.95 for every Rs 1 lakh of turnover in refined soya oil, soybean and castor seed etc. for brokers generating monthly average daily traded value (ADTV) of Rs 200 crore. Over and above of this slab, however, the transaction charges will be slashed further to Rs 1.30 for every Rs 1 lakh of turnover.
Similarly, traders generating ADTV upto Rs 50 crore in gold hedge, crude oil, crude palm oil, steel etc will have to pay Rs 0.40 per Rs 1 lakh of turnover. On the incremental monthly ADTV, a transaction fee of Re 0.30 for every 1 lakh of turnover will be charged. This would make it extremely cost effective for participants, NCDEX said in a statement.