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Last Updated : Dec 28, 2017 04:47 PM IST | Source: CNBC-TV18

Would be ready to start commodities biz by Oct'18 if convergence allowed: NSE

NSE would definitely like to venture into commodities if convergence is allowed, said Vikram Limaye, CEO, NSE.

CNBC TV18 @moneycontrolcom

Sources said, the Securities and Exchange Board of India (SEBI) on Thursday approved stock and commodities exchange convergence from October 2018.

Vikram Limaye, CEO, NSE said the above move if allowed is a positive move and will allow stock exchanges to start commodity bourses.

NSE would definitely like to venture into commodities if convergence is allowed, said Limaye.

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Once we launch the commodities exchange we definitely hope to get a significant market share.

This move will allow an investor to have one account but the margin that you have to put up for different asset classes will be different, said Limaye, adding that right now the brokerages had to have separate accounts for trading into equities and commodities.

When asked if these procedural easing would help increase volumes for both equities and commodities, he said it should because one would want any exchange platform to trade all asset classes. Moreover, it would give members flexibility and it consolidated liquidity.

NSE market share in currency trading is north of 60 percent, said Limaye.

He said if permission is granted by SEBI then they would be ready to start it by October but of course there would be a process to follow before that.

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First Published on Dec 28, 2017 04:14 pm
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