Trade Smart Online

[TradeSmartOnline]

Hello VNS, there is something haywire with the indices dialog today since morning. I had 6 indices there, but today morning it showed only one - India Vix. Later I was able to add only one more to it (Nifty). I am not able to add the other indices.

The entries in usersettings.ini will show you the indices I had earlier.

I could not find Lix15, banknifty, niftyjunior etc in the "Show Indices Dialog"

Hello timepass
The indices were renamed today by the Exchange. Hence the indices with earlier names are not visible anymore. However, you should have been able to add new indices with the new names. Attached image has all the new names of the indices. Please check whether you were searching for these or not.

In case these were not showing up on your pc pls let us know and we'll troubleshoot the same. Please also let us know what version of NOW you are using.

 

[timepass]

Thanks, got them all

Wish I could get them on a marketwatch

 

[natjay]

@TSO, I'm just curious about one thing, I hope you can clarify.

When a client opens a trading account with you and completes the KYC/IPV process, do you update/upload these details with CAMS KRA, CDSL, or any of the bodies that handle KYC for mutual funds?

For example, say someone wants to trade in the markets through you and also invest in mutual funds with a different fund house. When this person opens an account with you and completes KYC, will you be passing on these verified details to CDSL so that the person is KYC-certified to invest separately in mutual funds too?

Since you're a SEBI-registered intermediary, I'm assuming this is true and correct.

 

[TradeSmartOnline]

@TSO, I'm just curious about one thing, I hope you can clarify.

When a client opens a trading account with you and completes the KYC/IPV process, do you update/upload these details with CAMS KRA, CDSL, or any of the bodies that handle KYC for mutual funds?

For example, say someone wants to trade in the markets through you and also invest in mutual funds with a different fund house. When this person opens an account with you and completes KYC, will you be passing on these verified details to CDSL so that the person is KYC-certified to invest separately in mutual funds too?

Since you're a SEBI-registered intermediary, I'm assuming this is true and correct.

Hi natjay
Yes, we do upload it to the CVL (CDSL Ventures Limited) KRA. As per CDSL you should not need to do a KYC again and your existing KRA details can be used when you give them your PAN.

 

[natjay]

@TSO,

Now that RBI has permitted futures trading in 3 new currency pairs -- EUR-USD, GBP-USD & USD-JPY -- do you plan to make these available for trading? If so an ETA would be great.

I know the guidelines regarding these were issued late November, and exchanges have to pass information across to brokers, but still, it's an interesting development for currency traders in India who want to diversify beyond traditional products on offer.

Here's the RBI notification: https://www.rbi.org.in/scripts/NotificationUser.aspx?Id=10172&Mode=0

 

[timepass]

@TSO,

Now that RBI has permitted futures trading in 3 new currency pairs -- EUR-USD, GBP-USD & USD-JPY -- do you plan to make these available for trading? If so an ETA would be great.

I know the guidelines regarding these were issued late November, and exchanges have to pass information across to brokers, but still, it's an interesting development for currency traders in India who want to diversify beyond traditional products on offer.

Here's the RBI notification: https://www.rbi.org.in/scripts/NotificationUser.aspx?Id=10172&Mode=0

I wonder whether the timings for these non-INR pairs will be 24 hours.

 

[natjay]

I wonder whether the timings for these non-INR pairs will be 24 hours.

International spot markets are 24 hours but even with these new currency additions, our CDS market will probably be tradable only up to the normal 5pm time (we really have to get out of our 9-5 or 10-5 mentality given that so much of the action happens in the evening/night IST -- hope regulators understand that).

So it's a 50-50 situation. We get to see good international currency exposure but we have limited timings to trade. Gap ups and gap downs will be the norm.

Nevertheless, if we're okay trading the Asian and European sessions then we can still make it work despite the time limitations. Frankly, this is where the commodity markets score. At least that's open till 11.30-11.55pm.

 

[TradeSmartOnline]

@TSO,

Now that RBI has permitted futures trading in 3 new currency pairs -- EUR-USD, GBP-USD & USD-JPY -- do you plan to make these available for trading? If so an ETA would be great.

I know the guidelines regarding these were issued late November, and exchanges have to pass information across to brokers, but still, it's an interesting development for currency traders in India who want to diversify beyond traditional products on offer.

Here's the RBI notification: https://www.rbi.org.in/scripts/NotificationUser.aspx?Id=10172&Mode=0

Hello natjay,
Yes it is great that the new currency pairs have been permitted.

However, since the circular was issued just about 4 days ago the exchanges are still working on it. So we'll introduce them as soon as the exchange is ready to launch the new pairs.

 

[cloudTrader]

Hello TSO,

I have a confusion. In National stock exchange when we take a futures position we have two types of margins namely span margin and exposure margin.
When we take a position in commodity exchange then there is no exposure margin and only span margin.

There is a current trade of mine going on,
Can you please clarify how will things go-ahead for me ?
In my account I had 40,000.
I took one lot crude oil at 2572 for January series & margin blocked was around 25,000.
Crude oil has now gone to 2448 for January series.
Currently I am in a loss of 12,400.
If I keep the position open and crude oil still goes down then at what price of crude oil I will have to add more margin to my account.
This I am asking because in MCX I am a bit confused about the span margin and exposure margin scenario.

I hope I am clear in what I wanted to ask, if not then please tell me and I'll reword my question.

Thanks.

 

[TradeSmartOnline]

Hello TSO,

I have a confusion. In National stock exchange when we take a futures position we have two types of margins namely span margin and exposure margin.
When we take a position in commodity exchange then there is no exposure margin and only span margin.

There is a current trade of mine going on,
Can you please clarify how will things go-ahead for me ?
In my account I had 40,000.
I took one lot crude oil at 2572 for January series & margin blocked was around 25,000.
Crude oil has now gone to 2448 for January series.
Currently I am in a loss of 12,400.
If I keep the position open and crude oil still goes down then at what price of crude oil I will have to add more margin to my account.
This I am asking because in MCX I am a bit confused about the span margin and exposure margin scenario.

I hope I am clear in what I wanted to ask, if not then please tell me and I'll reword my question.

Thanks.

Hello Leonid,
Seems like we got your question. In case our answer is not satisfactory please let us know and we'll try another shot at it.

Since there is not exposure margin in MCX, you have to maintain the entire margin (i.e. span margin) in order to avoid a penalty for margin shortage.

Please let us know if you meant to ask something else.