Online Trade In Indore By Aug
The Indore-based National Board of Trade, which conducts futures trading in soyabean and rapeseed/mustard, is gearing up for online trading by August this year.
Executive director Jeya Kumar said, "We are in the process of developing the hardware, software, server and networking systems, and it will be ready by the end of this month."
On being asked about the board's plan to become multi-commodity exchange, Kumar said, "At present, we are concentrating on the online trading and it would depend largely on the success of the online trading."
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The National Board of Trade has also acquired permission to conduct futures trade in RBD palmolein.
He ruled out any increase in the margin money for soya oil trading by the exchange but said that it is a routine exercise. However, we have not increased the margin money, he added.
According to sources, the National Board of Trade is expected to rise the margin money for the second time by another 3-4 per cent.
Margin money is a component of the amount which is paid by a trader on the value of futures contract.