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HDFC Securities has launched commodity derivatives trading to its customers by taking membership of MCX. HDFC Securities expects commodity derivatives trading to scale new highs in the near future with professional service-oriented platforms and much needed awareness among investors.
As an initial offer, HDFC Securities will offer free registration for commodity derivatives trading till March 31 to all its customers. It will also levy a minimum brokerage of ₹20 per order on carry-forward or square off trades.
Dhiraj Relli, Managing Director & CEO, HDFC securities, said the move to offer MCX trading is an effort to introduce customers to an alternate asset class where HDFC Sec relationship managers will help them realise the potential in the commodities market. “Our digital platforms are also gearing up to facilitate commodities trading and would be functional very soon,” he added.
Mrugank Paranjape, MD, MCX, said with the addition of commodity derivatives to its product bouquet, HDFC Securities with a sizeable retail customer base, corporate and institutional investors will immensely add value to its wide spectrum of stakeholders.
Physical market participants such as MSMEs, traders, manufacturers and processors associated with the banking system would now be facilitated to manage their physical market price risks by better means and network access, he added.
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