Indiainfoline to launch MCX, NCDEX, DGCX software

Indiainfoline will launch a software consisting trading for Multi Commodity Exchange (MCX), National Commodities & Derivatives Exchange (NCDEX) and Dubai Gold & Commodities Exchange (DGCX) within three months focusing 50 lakh users.

This software will cater to the need of online traders dealing in all kind of commodities including yellow metal.

Kadam Shah, Business Development Manager, Gujarat, Indiainfoline said that currently very few are trading online.

"Our market share is around two per cent in online trading in commodities with a software offering MCX and NCDEX trading," said Shah.

He added that company targets 100 per cent market share in online trading of commodities.

"Though it would be very difficult for us to prove and explain the users who believe in trading only after touching or feeling the commodity," explained Shah.

"For awareness we will also conduct various seminar in villages and mandis where in traders will come and understand the arbitrage and hedging together in which ever commodities they are interested," he added.

Shah also claimed that Indiainfoline has a market share of 26 per cent of Indian hedgers based in Dubai.

"Once we launch our software, DGCX trades would be able to deal in NCDEX as well as MCX online," he said.

Talking about equity, Shah claimed that recently company increased its market share to 26 per cent.

"Now we are second in portal offering online trading in the country and very soon we will become first," claimed Shah.

Currently, the online trading is expected to be around Rs 1,000 crore in the country.

"Out of total till last year our market share was around 17 per cent and now it has shot up to 26 per cent," said Shah

However, the company has recently launched an offer of registering for brokerage and depository accounts for life time for just Rs 555.

"After this scheme we expect a major rise in our business," said Shah adding that company expects 17 per cent growth in brokerage and depository accounts.