Ace Derivatives and Commodity Exchange Limited, a Kotak Mahindra Group anchored commodity exchange in India, today announced the launch of a special concession scheme to encourage hedgers’ participation and promote delivery in its Cotton contract.
This scheme can be availed by the initial depositors who deposit the goods in the Exchange accredited warehouse and deliver the same on the Exchange platform. For these depositors, Ace will waive off a) the testing and assaying charges, b) labour charges for loading and unloading of goods (Loading at depositors’ location and unloading at Exchange accredited warehouse) subject to maximum of Rs. 4000/- per lot of 100 bales and c) the rent of warehouse for first month of deposit.
The concessions will be applicable for all goods deposited in the exchange accredited warehouses from December 21, 2012 and remain in force till further notification. Ace had launched future trading in Cotton contract on September 24, 2012.
Ace Derivatives and Commodity Exchange Limited is a screen based online derivatives exchange for commodities anchored by the Kotak Mahindra Group. Ace Commodity Exchange, earlier known as Ahmedabad Commodity Exchange Limited, has been in existence for more than 5 decades in Commodity Derivatives Business, bringing in the best and transparent Business Practices in the commodity space.
