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Our Bureau

Kochi, Feb. 10 The Kerala-based Muthoot Group has entered commodities futures trading with the launch of Muthoot Commodities Ltd by using the trading platform of MCX, NCDEX and NMCE.

The company, which had already launched equity trading business, will provide trading facilities for commodity futures leveraging on the strength of 102 branches of Muthoot Securities spread across Kerala, Karnataka and Tamil Nadu to start with.

Addressing a press conference, Mr George Alexander Muthoot, Managing Director, said the company is equipped with the technology support to provide trading services in commodities such as pepper, rubber, coffee, cardamom, etc as also in metals, bullion and crude. MCDL will also offer online trading facilities to the customers at attractive transaction costs.

Explaining the company’s drive of choosing rural segments for commodity broking, Mr P.S. Sathyan, CEO, MCL, said: “We don’t want this to be just another broking firm. We have intentionally chosen the rural belt for our commodity business. We felt the growers and cultivators also should get the benefits of commodities futures trade”. To promote the participation among the farmers and co-operative societies, MCL provides its training terminals to co-operative societies. The company also facilitates physical delivery business in these home grown commodities, he said.

MCL will also conduct regular customer awareness sessions to popularise commodity trading as the group has intimate relations with the farming community in Kerala and Tamil Nadu. To help out those in bullion, metals and crude, the company offers late evening trading facilities in selected branches, he added.

More Stories on : New Products & Services | Commodity Markets | Kerala

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