INSUBCONTINENT EXCLUSIVE:
Mumbai: The stock-broking arm of Axis Bank on Monday began offering commodity derivatives trading on the Multi Commodity Exchange platform,
making it the first subsidiary of a bank to offer the service.The Reserve Bank of India had allowed bank subsidiaries to provide commodity
broking services in September last year, as the Securities and Exchange Board of India, the capital market regulator, tries to deepen the
market.Existing Axis Securities clients can now trade commodity futures and options after filing a declaration, Axis Securities managing
director Arun Thukral told a news conference.The broking firm will also allow its members to trade on the National Commodity Derivatives
Exchange (NCDEX) platform by end-September, Mr Thukral said.MCX is the dominant bourse for metals and energy products, while NCDEX corners
the bulk of the volume in agriculture commodity derivatives.Trading volumes in commodity derivatives could rise by 20 per cent in the next
three years as many bank subsidiaries line up to offer trading in commodity derivatives, said Mrugank Paranjape, chief executive officer of
