@ZeeBusiness @BloombergQuint @EconomicTimes@bsindia
Trading negative price in crude is completely illogical without physical settlement. @SEBI_India should understand and do justice to apr crude clients. No margin system works for negative..It is risking brokers and clients.
@IndiaCorpLaw@ZeeBusiness @BloombergQuint @EconomicTimes@bsindia
Trading negative price in crude is completely illogical without physical settlement. @SEBI_India should understand and do justice to apr crude clients. No margin system works for negative..It is risking brokers and clients.
In April, large retail and high net-worth traders suffered a loss of around ₹442 crore due to MCX's move to set a negative price for its monthly expiry contracts even when the last trading price was frozen at ₹965 per barrel. https://t.co/k1lwLkRbYq via @businessline
@CzarVT @MSChawla555 Then it was stupid of mcx to set expiry rate at negative number.. do they have obligations with nymex? Could have just let it end at 0 or ltp
Now... with my account WB1227.... there is late deduction of mcx short margin charges which never showed negative on daily trading days..... and after a week/10 days penalties are charged??... what is going on??? If there was short also, why it was not notified that time (1/2)
@FinMinIndia@nsitharaman @SEBI_India @thehindubiz
This complete mess up is created by MCX without any logical thinking. This product should be banned in India to save retail people.
MCX crude contract is much much worser than gambling ...
https://t.co/UyPmz7oqi9
@ShantanuGuhaRay
Sir, There are so many retail clients lost money in Apr Crude settlement and fighting for survival.
We are trying our best to fight with SEBI and MCX but you know how systems work in India.
For some of us it is pathetic situation.
Please suggest what to do