Commexes turnover up 66 pc till December of FY'12

NEW DELHI: The turnover of the 21 commodity exchanges in the country rose by 66 per cent in the current fiscal to Rs 137.22 lakh crore till December, 2011, on account of increased trade in gold, silver and some agricultural commodities, the Forward Markets Commission said today.

The turnover of these exchanges stood at Rs 82.70 lakh crore in the same period last year, it said in a statement.

The maximum trade was seen in gold, silver, guarseed, crude oil, soya oil and chana, it added.

According to FMC data, the turnover in the bullion segment rose more than two-fold to Rs 80.36 lakh crore during the April-December period of the 2011-12 fiscal from Rs 37.54 lakh crore in the corresponding period last year.

In a similar fashion, business from farm items like guarseed increased by 52 per cent to Rs 14.71 lakh crore from Rs 9.69 lakh crore.

While the turnover of energy items like crude oil increased by 35 per cent to Rs 21.71 lakh crore from Rs 16.09 lakh crore, business from metals like copper rose marginally by 5.47 per cent to Rs 20.43 lakh crore during the review period from Rs 19.37 lakh crore.

During December, 2011, the maximum turnover of Rs 12,40,500 crore was posted by MCX, followed by NCDEX (Rs 1,79,490 crore), NMCE (Rs 27,826 crore), ICEX (Rs 23,655 crore) and ACE (Rs 12,713 crore).

The FMC further said it has reduced the minimum penalty to be paid for delays in client code modification ( CCM) from Rs 25,000 to Rs 5,000.

To stop the misuse of CCM for tax purposes, the regulator had earlier warned trading members they would have to pay a minimum penalty of Rs 25,000, or 1 per cent of the value of a modified trade, or 2 per cent if the value was higher than 5 per cent of the total turnover posted by a broker on a given day, in case of any delays in client code modification, whichever was higher.