Axis Securities launches NCDEX commodity derivatives

Kolkata: Axis Securities on Wednesday announced the launch of trading in NCDEX commodity derivatives. After SEBI permitted bank subsidiaries to provide broking services in commodities derivatives, Axis Securities has became the first ever bank led broking entity to take membership of a commodity exchange.

India currently has an underdeveloped commodities market. According to an estimate it is 0.3 times of Indian GDP, while in developed economies like China it is 5 times of GDP and in United States it is 6 time of GDP. Hence there is lot of scope of growth in this segment. Axis Securities also plans to create awareness across India on this initiative.

As an introductory offer Axis Direct is providing lower brokerages where customer will be charged only 0.03% for futures trades which is less by 40% when its compared with competition. Also for options trades AxisDirect is charging only Rs. 50 per lot where the industry standard is Rs. 250 per lot, which makes it 80% cost effective.