ICEX may get FMC nod to lower transaction fee

Indian Commodity Exchange (ICEX) is likely to get the Forward Markets Commission’s nod to offer concessional transaction charges for its 100-odd members in the first 3-6 months, according to BC Khatua, chairman, FMC.

He confirmed that ICEX had applied for transaction tax-related concessions, but did not disclose the details. “We may give some concessions for the initial three or six months, but have not arrived at final decision yet,” Khatua said.

However, a complete transaction waiver, as given to National Commodity and Derivatives Exchange, and MCX at the time of launch, was not possible, he clarified. Meanwhile, MCX has announced a sharp cut in its transaction fees to be applicable from November 2.