Axis Securities Gets NCDEX Membership

Axis Securities, a subsidiary of Axis Bank, has become the first-ever broking arm of a bank to take membership of a commodity exchange by registering itself with NCDEX.

In September, Reserve Bank of India allowed banks wishing to undertake commodities derivatives clearing to set up a separate subsidiary for the purpose and adhere to the membership norms laid by market regulator Securities Exchange Board of India.
News in-a-line:
Axis Securities- become the first-ever broking arm of a bank to take membership of a commodity exchange by registering itself with NCDEX.
Static/Current Takeaways Important for RBI Assistant Mains 2017 Exam-
  • NCDEX- National Commodity and Derivatives Exchange,
  • Samir Shah- Managing Director, NCDEX,
  • Arun Thukral- Managing Director, Axis Securities.
Source- The Hindu Business Line

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