MCX alert: New members know this important information about late fee here

MCX Alert: If you have recently got membership of MCX, then you must know what the latest circular of India’s largest commodity exchange is saying. The exchange has issued a circular regarding the late fee levy on the newly inducted members on its platform. In a 10 September circular, MCX has said that the new members on failure in depositing the applicable fees and deposits and completing the procedure for activation of membership within a specified will be liable for late fee.  

See details here: 

• Extension of Timeline for payment of fees and deposits and completion of documents for activation of membership - Initial extension of 30 days (after completion of 90 days). Late Fees payable for extension by Newly Admitted Member will be Rs 5000.  
• For extension beyond the period of 120 days (90 days plus 30 days as mentioned in point 1 above). Rs 500 per calendar day upto a maximum of 180 days from the date of approval of the Exchange. 

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The Multi Commodity Exchange of India Limited (MCX) is India’s first listed exchange. It is a state-of-the-art, commodity derivatives exchange that facilitates online trading of commodity derivatives transactions, thereby providing a platform for price discovery and risk management. This commodity exchange, which started operations in November 2003, operates under the regulatory framework of Securities and Exchange Board of India (SEBI).