NCDEX defers revision in risk management fee after strong protest by mandis

New fee structure would hurt traders with long-term positions; Mandis across Gujarat and Rajasthan had halted spot commodity trading in protest, leaving thousands of farmers stranded

The National Commodity Clearing Ltd (NCCL), the clearing corporation of the National Commodity and Derivatives Exchange Ltd (NCDEX), has kept its recent revision in risk management and clearing fees in abeyance.

NCCL had, through a circular dated December 18, revised its risk management and clearing fees to Rs 10 for every million worth of business generated on its platform from the existing Rs 40 per million. While the change in fee structure was profitable for short-term position holders, it was negative for long-term position holders. The change in fee was proposed to be made effective from February 1, 2019.

With a one-time