New Document top_band
 
Business Standard

Indiainfoline to launch MCX, NCDEX, DGCX software

Related News

Indiainfoline will launch a software consisting trading for (MCX), National Commodities & Derivatives Exchange () and Dubai Gold & Commodities Exchange (DGCX) within three months focusing 50 lakh users.
 
This software will cater to the need of online traders dealing in all kind of commodities including yellow metal.
 
, Business Development Manager, Gujarat, Indiainfoline said that currently very few are trading online.
 
"Our market share is around two per cent in online trading in commodities with a software offering MCX and NCDEX trading," said Shah.
 
He added that company targets 100 per cent market share in online trading of commodities.
 
"Though it would be very difficult for us to prove and explain the users who believe in trading only after touching or feeling the commodity," explained Shah.
 
"For awareness we will also conduct various seminar in villages and mandis where in traders will come and understand the arbitrage and hedging together in which ever commodities they are interested," he added.
 
Shah also claimed that Indiainfoline has a market share of 26 per cent of Indian hedgers based in Dubai.
 
"Once we launch our software, DGCX trades would be able to deal in NCDEX as well as MCX online," he said.
 
Talking about equity, Shah claimed that recently company increased its market share to 26 per cent.
 
"Now we are second in portal offering online trading in the country and very soon we will become first," claimed Shah.
 
Currently, the online trading is expected to be around Rs 1,000 crore in the country.
 
"Out of total till last year our market share was around 17 per cent and now it has shot up to 26 per cent," said Shah
 
However, the company has recently launched an offer of registering for brokerage and depository accounts for life time for just Rs 555.
 
"After this scheme we expect a major rise in our business," said Shah adding that company expects 17 per cent growth in brokerage and depository accounts.

 
 

Read more on:   
|
|
|
|
|
|
|

Read More

FMC to penalise exchanges for SMS/email default

The commodity derivatives market regulator the Forward Markets Commission has decided to levy a penalty of Rs 500 per client per trade for failing to ...

Quick Links

 

Market News

Debt fund managers' careers at stake

At least 20% cuts in jobs anticipated with Budget change in tax treatment, with heavier impact on sales teams; sector mulls options

Uttarakhand to impose 2% entry tax on sugar

Move to stop units from buying commodity from Uttar Pradesh

Markets end at record closing highs

Sensex gained over 100 points and ended at 26147.33 while the Nifty ended 27 points higher at 7,795.75.

Sensex up 100 points; Infy, TCS up 2%

Sesnex is up 93 points at 26,119 and Nifty is up 18 points at 7,786 levels

Atul Limited soars over 10% on robust Q1 earnings

Q1 net profit up 48% at Rs 59.78 crore against Rs 40.45 crore in the corresponding quarter previous year.

Back to Top