Ace offers concession to cotton depositors

Ace Derivatives and Commodity Exchange (Ace), a Kotak Mahindra Group-anchored commodity exchange, announced the launch of a special concession scheme to encourage hedgers’ participation and promote delivery in its cotton contract. The exchange facilitates waiving off testing and assaying charges in addition to labour charges for loading and unloading of goods up to Rs 4,000 per lot of 100 bales and rent for the first month of deposit to initial depositors of cotton. The scheme will be effective from December 21.