HDFC securities announced the launch of commodity derivatives trading on MCX. Though India is quite under-penetrated as compared to other global markets, this trading space is transforming at a rapid speed with the introduction of new products and participants. HDFC securities believes that commodity derivatives trading will scale new highs in the near future with professional service-oriented platforms and much needed awareness among investors.
Commemorating the launch of the new business, HDFC securities is offering free registration for commodity derivatives trading till March 31, 2019 to all its customers. Furthermore, a minimum brokerage Rs 20/- will be levied per order on Carry forward or Square off trades.
At the launch, Dhiraj Relli – MD & CEO, HDFC securities said “The geographical advantage has given India an edge in the world commodity markets. India is a leading trading nation in key commodities like spices and cotton.
For this new venture, we are delighted to be associated with MCX which has achieved a spot amongst the world’s top commodity exchanges after US and China.
Speaking on the occasion, Mrugank Paranjape, MD & CEO, MCX said, “Bank broking subsidiaries represent a great growth potential for the commodities market in India. With the addition of commodity derivatives to its product bouquet, HDFC Securities – one of the leading stock broking companies serving a diverse and sizeable customer base of retail, corporate and institutional investors – will immensely add value to its wide spectrum of stakeholders.”
“It also helps the market to reach out to a large retail base through its outstretched branch network in the country. Moreover, physical market participants such as MSMEs, traders, manufacturers and processors associated with banking system would now be facilitated to manage their physical market price risks by better means and network access which will further contribute towards a vibrant and robust commodity ecosystem,” he added.
