Business Standard

Indiainfoline to launch MCX, NCDEX, DGCX software

Related News

Indiainfoline will launch a software consisting trading for (MCX), National Commodities & Derivatives Exchange (NCDEX) 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.
 
Kadam Shah, 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 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 ...

Advertisements

Quick Links

 

Market News

Nikkei hits 7-year high as BoJ expands monetary easing

The Nikkei surged 755.56 points or 4.83% to end at 16,413.76, its highest level since November 2007

Maruti Suzuki India, Axis Bank joins Rs 1-lakh-cr market-cap club

Axis Bank hits a record high of Rs 440, while Maruti Suzuki touched a new high of Rs 3,349 in intra-day deals on BSE.

Marksans Pharma surges on strong Q2 results

The stock rallied 6% to Rs 64 on NSE after reporting 56% yoy growth in net profit at Rs 31 crore in September quarter.

Markets continue winning streak; Sensex up 400 points

The 30-share Sensex is up 412 points at 27,758 and the 50-share Nifty has gained 119 points to trade at 8,288.

Copper down 0.2% on weak global cues

Metal for delivery in November shed 0.14%

Back to Top