In an effort to boost trade volumes in non-agricultural commodities, the NCDEX has lowered transaction fee’s for members. The NCDEX said that the new fee’s will take effect May 6, 2011, members would have to pay a transaction charge of Rs 2 per Rs 1,00,000 of turnover if their average daily business is within Rs 100 crore. Members of NCDEX would have to pay Re 1 if their average daily business is between Rs 100 crore and Rs 200 crore. Members would have to pay 50 paise if their daily turnover exceeds Rs 200 crore.
Experts said the reduction in transaction fee for members trading at the NCDEX platform would encourage business volumes in non-agricultural items like bullion, crude oil and metals.
NCDEX has been trying to reduce transaction charges on its platform since the time its rival MCX had cut the fee in October, 2009.