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FMC looking into NCDEX plea on transaction fee

FMC looking into NCDEX plea on transaction fee
PTI
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First Published: Mon, Apr 06 2009. 10 22 PM IST
Updated: Mon, Apr 06 2009. 10 22 PM IST
New Delhi: Commodity market regulator Forward Markets Commission on Monday said that it is looking into the submission made by National Commodity and Derivatives Exchange Limited (NCDEX) for a cut in the transaction fee, even though the existing policy does not allow exchanges to levy such charges.
“The submission by NCDEX are under examination,” FMC chairman B.C. Khatua said. The exchange had announced a reduction in transaction fee from an average of Rs3.46 to 5 paise on every trade worth Rs1 lakh after 5pm to encourage trade volumes in non-agricultural commodities. NCDEX, which is struggling to increase volumes, has urged the regulator to relook into the issue.
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First Published: Mon, Apr 06 2009. 10 22 PM IST