| The Indian commodity market is yet to recover from the blow delivered by the imposition of commodities transaction tax (CTT). This tax resulted in plunging volumes as higher trading cost made traders move away from commodities — ushering in an era of ‘dabba’ trading. But all this is set to change as SEBI and FMC, the securities and commodities market regulators, merge in September.
PK Singhal, Joint Managing Director of MCX, India’s largest commodity bourse, outlines the opportunities and challenges that open up with this event, in an interview with BusinessLine. The new watchdog’s sharp scrutiny is set to change the commodity derivatives landscape. But he thinks that as the market opens up and new competitors from the securities market debut with a commodity platform, existing players in the commodity exchange business need to gear up...............................................Full Article: Source
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