We are delighted to announce that as per SEBI Circular
No.SEBI/HO/MIRSD/MIRSD1/CIR/P/2017/104 dated September 21, 2017; we have submitted our application for integrating broking activities in Equity Markets and Commodity Derivative Markets under single entity to Multi Commodity Exchange of India Ltd (MCX), which has been processed and provided in- principle approval.
Pursuant to the above approval, we are transferring the membership of commodity derivative business from M/s. Navia Commodities Broker P Limited (Transferor) to M/s. Navia Markets Limited(Transferee) and all client accounts and their positions at the end of 28th September 2018 will be transferred to M/s. Navia Markets Ltd.
What changes and benefits are there for you?
- You can now provide security collateral for commodity trading
- You will be provided the option for moving funds between the segments which will be processed at the end of the day and balance will be available for next trading day. Hence there will be no necessity to take payout from Commodities segment and make payin to Equity/Currency segment.
- If any short fall in the margin, you may choose to move the funds between the segments
- Very soon you will also be able to use your equity/currency margins for commodities and vice versa. More on this will follow soon.
- A new commodity ledger would be made available under Navia Markets in the back office and Transactions from 1st October 2018 would reflect under this ledger. You can continue to view your earlier commodity related transactions under the old ledger.
- If you are an existing equity client and want to open commodities account, then there is no need for a separate KYC.
What does not change for you?
- There will be no change in your 8 digit Unique Client Code.
- There is no change in brokerage scheme opted by you.
- Margins and Limits and RMS policies governing commodities trading will remain the same.
Please note the following:
- All commodity ledger balances after the trading on 28th September 2018 will be transferred to the Transferee Company including margins if any.
- All existing Open positions as of 28th September 2018 will be transferred to the Transferee Company.
- Running Account Settlement will be effected with maximum retainable balance of Rs.10,000/- as per the chosen periodicity (monthly / quarterly) at the time of account opening.
- There is no change in the terms and conditions / policies and procedures published in our portal www.tradeplusonline.com.
No action required from your side, if you agree to transfer of your commodity trading account to Navia Markets Limited.
It is our endeavour to ensure seamless transition and we look forward to providing you with continued service. However, if you are not providing your consent for the transfer of your commodity trading account, you may write to firstname.lastname@example.org on or before 28thSeptember 2018.
We have created detailed FAQ’s should you have any questions in this regard. If you require any further guidance / clarifications, please write to us on email@example.com or call us on044-49427576.
We thank you for your co-operation and look forward to your continued support.
Assuring you of our best services at all times.