Re: Intraday chart for commodities
As a options trader I am also very keen on it and has been tracking the development regarding it for years. What I can tell you from my knowledge is that for commodity Options the central government has to pass the FCRA bill, which has been hanging fire in Parliament for a very very long time. The bill's old version lapsed in UPA-1 term. At present, the FMC does Not have enough powers to regulate commodity exchanges. Reason why NSEL scam happened.
Government had listed that bill for passing many times, but each time the parliament got stalled 'cos of some scam or something else. The bill was listed for passing in the just passed monsoon session of parliament also. But again the same story repeated - the whole session got wasted 'cos of coal controversy. But the government is very serious about passing it this time. It wants to pass all the pending bills to spur growth. It had listed 43 pending bills for passing in the monsoon session. But could pass only those which were very high on its priority, and that too 'cos it cut a deal with the Opposition!
So "If" the forthcoming winter session of parliament, which will be The last parliament session of UPA's term, does Not get washout 'cos of some controversy, then the FCRA bill has a very very good chance of getting passed. Winter session is usually held between Oct-Dec. So if the bill gets passed then I think by next year's Mar-Apr the option of trading in commodity Options would become available to traders.
As an aside, the winter session is going to be "blockbuster". Govt likely to pass bills like GST etc. in this session.
Use this widely used website to know more about the FCRA bill, pending bills, Parliament activities etc. - 1) http://www.prsindia.org/billtrack/the-forward-contracts-regulation-amendment-bill-2010-1400/
2) How serious is government about passing the FCRA bill can be understood by the fact that it had listed it on the first place in the 2013 monsoon session http://www.prsindia.org/parliamentt...lan-vs-performance-monsoon-session-2013-2927/
3) Website was/is funded by heavyweights like Jhujhunwala, Ford Foundation etc. Read the last para http://www.prsindia.org/aboutus/background/
As a options trader I am also very keen on it and has been tracking the development regarding it for years. What I can tell you from my knowledge is that for commodity Options the central government has to pass the FCRA bill, which has been hanging fire in Parliament for a very very long time. The bill's old version lapsed in UPA-1 term. At present, the FMC does Not have enough powers to regulate commodity exchanges. Reason why NSEL scam happened.
Government had listed that bill for passing many times, but each time the parliament got stalled 'cos of some scam or something else. The bill was listed for passing in the just passed monsoon session of parliament also. But again the same story repeated - the whole session got wasted 'cos of coal controversy. But the government is very serious about passing it this time. It wants to pass all the pending bills to spur growth. It had listed 43 pending bills for passing in the monsoon session. But could pass only those which were very high on its priority, and that too 'cos it cut a deal with the Opposition!
So "If" the forthcoming winter session of parliament, which will be The last parliament session of UPA's term, does Not get washout 'cos of some controversy, then the FCRA bill has a very very good chance of getting passed. Winter session is usually held between Oct-Dec. So if the bill gets passed then I think by next year's Mar-Apr the option of trading in commodity Options would become available to traders.
As an aside, the winter session is going to be "blockbuster". Govt likely to pass bills like GST etc. in this session.
Use this widely used website to know more about the FCRA bill, pending bills, Parliament activities etc. - 1) http://www.prsindia.org/billtrack/the-forward-contracts-regulation-amendment-bill-2010-1400/
2) How serious is government about passing the FCRA bill can be understood by the fact that it had listed it on the first place in the 2013 monsoon session http://www.prsindia.org/parliamentt...lan-vs-performance-monsoon-session-2013-2927/
3) Website was/is funded by heavyweights like Jhujhunwala, Ford Foundation etc. Read the last para http://www.prsindia.org/aboutus/background/
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