Multi Commodity Exchange of India (MCX), an independent commodity exchange based in India, has increased the transaction charges for trades on its platform. The transaction fee structure will be effective for trades executed from October 1, 2016 onwards and will be valid till further notice. The transaction fee on the turnover value is to be paid by the members based on their turnover in all the commodities traded on the exchange.
For, non-agricultural commodities, traders have to pay transaction fee of Rs 2.60 per lakh for average daily turnover up to Rs 350 crore and Rs 1.75 per lakh on incremental turnover above Rs 350 crore. Average daily turnover will be calculated at the end of every month by way of dividing the total turnover of the member by the total number of trading days.
For, agricultural commodities, transaction fee will be levied at Rs 1.75 per lakh of turnover on the total turnover of the member. The transaction fee shall be debited on a monthly basis to the settlement account of the members in the first week of the succeeding month.