Zerodha....

[chandra1]

Yesterday data table didn't have data for USDINR 27Jun for MAY 30 from NEST PLUS, today I have not checked .

I am using NOW and USDINR 27Jun2012 was there in the market watch yesterday.

However I may add that I am not trading in USDINR but I have kept it in my MW just for information purpose.

 

[TheDreamer]

Taking money upfront is not a true essence of doing broking business,infact any business... Imagine before you go to a restaurant you have to pay some money(however little), or you have to pay before entering shopper stop..

Advance payment is a part & parcel of any business... When I book a hotel in advance, I pay before occupying the room/suite... We present Gift Vouchers to our near & dear ones which is also paying money upfront... I can give many other examples...

What Zerodha does, might be good for them... but don't try to justify your way of doing business as the only possible (legal/moral/ethical) way...

 

[poortrader]

USDINR of MAY expiry has already expired. Now USDINR 27Jun onwards.
Thats why you are not getting any data/chart of May expiry

i mean no data of USDINR 27june for 30 May2012 and even today..I know about the expiry so I am not talking of May month futures, I am talking of June month futures..zerodha mailed me yesterday that they r following it up with NEST team..still no resolution

 

[Zerodha]

Advance payment is a part & parcel of any business... When I book a hotel in advance, I pay before occupying the room/suite... We present Gift Vouchers to our near & dear ones which is also paying money upfront... I can give many other examples...

What Zerodha does, might be good for them... but don't try to justify your way of doing business as the only possible (legal/moral/ethical) way...

Not saying if it is moral/ethical or not, that is why I had mentioned, we would not go against it... ..

As far as legal...hmmm this is debatable...A lot of cases pending at SEBI/NSE because of this... A lot of broking firms in India have gotten into this because, by taking money upfront you are guaranteeing business...There are brokers charging Rs 1lk upfront for a year to give you a deal, what happens if a client did just 5 trades and didn't trade anymore?? Does the broker refund this upfront fees back???

SEBI has regulations on how much maximum brokerage can be charged and in this case it sure would be exceeding this clause.... As I said, there are a lot of such cases which is pending at SEBI, put up by retail clients.... So about the legality aspect, we would probably have to wait for a SEBI order on the same.. But knowing how long SEBI takes for its orders, it might be a long time.. ...

 

[Zerodha]

Please tell me if someone remained with open position in NIFTY (by his mistake) at the close of expiry day. Will it be auto squared off or ..

Pl tell for both LONG and SHORT positions.

If you forget to square off, all f&O positions will be settled to the underlying price automatically, be it long or short...

The only issue would be if you are holding short options, in this case when the option gets settled, you might be paying extra STT...

 

[sr114]

Advance payment is a part & parcel of any business... When I book a hotel in advance, I pay before occupying the room/suite... We present Gift Vouchers to our near & dear ones which is also paying money upfront... I can give many other examples...

What Zerodha does, might be good for them... but don't try to justify your way of doing business as the only possible (legal/moral/ethical) way...

The Dreamer,
ur logic is true but not true in every business sense. U pay in advance for a hotel room/suite fearing u may not be able to get that particular facility in peak season but in slack season if u pay u are generous to the hotel owner.

In restaurant, u never pay before eating the food.
Gift voucher - u r gifting something to some one else- deferred cash instead of the gift.
In buying any trouser/shirts, dress material, u never pay before as u don't know what is the price before seeing it. u know it when u see the product price tag not before that. u never pay in advance when u r travelling the local train or bus but in case of long distance travel, u have to buy the ticket in advance as demand may be high at that particular time. (as we see in vacation time)

so we never pay in advance - make any advance commitment, if we are going to get that product/service easily. we only pay when we feel it is in great demand and we may not get it if we don't pay in advance.

In case of Zerodha, they make sense when they take the actual usage fee and not advance commitment. we may not be trading as on that particular time frame and we had paid them in advance and then we will tell them to revert the advance commitment as we dont want to part our money for which we dont get any utility. if we trade we are ready to pay what is defined.


regards
sr114

 

[Zerodha]

Is it possible to have different portfolios under the same account ??

Not really!!!

 

[timepass]

Taking money upfront is not a true essence of doing broking business,infact any business... Imagine before you go to a restaurant you have to pay some money(however little), or you have to pay before entering shopper stop..

Discount broking as it is across the world is where you pay a fixed per trade fees without any commitments.. Whatever we do will be according to this philosophy... We would never get into a model where we ask any money upfront...

About lower transaction charges, 90% of business today happens in options.. If transaction charges for futures which comprises of less than 10% of the business is reduced, it is just a marketing gimmick which can hurt the business model on a longer term... Today anyone can reduce charges, but no one will accept if it has to be increased tomorrow...

All telecom companies have prepaid schemes, not ethical, is it ?? As an organization, you must've paid some advance taxes - not right is it ?? Did you ever protest ? Prepaid is a business practice which you may not like to follow, but let's not get negative.

 

[timepass]

In restaurant, u never pay before eating the food.
There are food outlets where you buy a coupon first and then get your food. That's a regular practice too, isn't it ?

In buying any trouser/shirts, dress material, u never pay before as u don't know what is the price before seeing it. u know it when u see the product price tag not before that.

u never pay in advance when u r travelling the local train or bus.
I don't know which local trains allow you to board without a ticket in advance. On the bus, yes you may not buy a ticket in advance, or maybe you do, but you certainly pay up before you get down, most probably within 2 stops of boarding.

but in case of long distance travel, u have to buy the ticket in advance as demand may be high at that particular time. (as we see in vacation time)

so we never pay in advance - make any advance commitment, if we are going to get that product/service easily. we only pay when we feel it is in great demand and we may not get it if we don't pay in advance.

In case of Zerodha, they make sense when they take the actual usage fee and not advance commitment. we may not be trading as on that particular time frame and we had paid them in advance and then we will tell them to revert the advance commitment as we dont want to part our money for which we dont get any utility. if we trade we are ready to pay what is defined.


regards
sr114

Actual usage is a usual industry practice. It's ok if you wish to continue following it, but let's not get negative.

 

[sr114]

In restaurant, u never pay before eating the food.
There are food outlets where you buy a coupon first and then get your food. That's a regular practice too, isn't it ?
yes in certain food courts - but in majority - i dont think i have to pay in advance before eating my food. so is this a regular practice in 5*/4*/3*/3*/*/ - or our local restuarant?

In buying any trouser/shirts, dress material, u never pay before as u don't know what is the price before seeing it. u know it when u see the product price tag not before that.

u never pay in advance when u r travelling the local train or bus.
I don't know which local trains allow you to board without a ticket in advance.
Advance ticket in this case is that we buy the ticket when we are travelling and not a day before.
On the bus, yes you may not buy a ticket in advance, or maybe you do, but you certainly pay up before you get down, most probably within 2 stops of boarding.
But not before actually boarding the bus.

but in case of long distance travel, u have to buy the ticket in advance as demand may be high at that particular time. (as we see in vacation time)

so we never pay in advance - make any advance commitment, if we are going to get that product/service easily. we only pay when we feel it is in great demand and we may not get it if we don't pay in advance.

In case of Zerodha, they make sense when they take the actual usage fee and not advance commitment. we may not be trading as on that particular time frame and we had paid them in advance and then we will tell them to revert the advance commitment as we dont want to part our money for which we dont get any utility. if we trade we are ready to pay what is defined.

Actual usage is a usual industry practice. It's ok if you wish to continue following it, but let's not get negative.

yes our thinking is flawed in some sense. prepaid telephone tariff - before that BSNL landline no advance commitment.

rented house - advance commitment yes but its a premium to get the house in rent but actual rent - no advance.

regards
sr114