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HDFC Securities launches commodity derivatives trading on MCX

Business Finance

Press Trust of India  |  New Delhi 

HDFC Securities on Monday announced the launch of commodity derivatives trading on Multi Commodity Exchange (MCX).

The brokerage is offering free registration for commodity derivatives trading till March 31 to all its customers, MCX said in a statement.

A minimum brokerage of Rs 20 will be levied per order on carry forward or square off trades, it added.

"Our digital platforms are also gearing up to facilitate commodities trading and would be functional very soon," HDFC Securities MD and CEO Dhiraj Relli said.

The association with MCX is an effort to introduce the customers to an alternate asset class for investing where HDFC Securities' relationship managers will be available to help them realise the potential in the commodities market, he said.

MCX Managing Director and CEO Mrugank Paranjape said: "Bank broking subsidiaries represent a great growth potential for the commodities market in India."

With the addition of commodity derivatives to its product bouquet, HDFC Securities will immensely add value to its wide spectrum of stakeholders, he said.

Moreover, physical market participants such as MSMEs, traders, manufacturers and processors associated with banking system would now be facilitated to manage their physical market price risks by better means and network access, Paranjape added.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Mon, January 21 2019. 15:45 IST