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Market briefing
Transaction fees on NSE futures waived
National Stock Exchange (NSE) has waived the transaction fee in the futures segment. Trading in index futures commenced from June 12, 2000. In an attempt to promote business in this segment, the exchange has decided to waive the transaction fee of Rs two per lakh of traded value on each side or Rs one lakh annually till December 31, 2000. Financial Tech software for futures Financial Technologies Pvt Ltd (FT), provider of software products, has tied up with UK-based Rolfe & Nolan Plc to bring in products and services for futures and options trading in India. As per the agreement with the UK company, FT will market the former's product - which is a software designed for absolute control over the management of trading in futures and options. The product, called CTMS21 - will be necessarily modified to suit Indian regulatory requirements. FT has also been appointed Rolfe & Nolan's overseas development centre for further developments on the product.Pru-ICICI launches `Instacheque'
Prudential ICICI Asset Management Company has launched yet another innovative feature called instacheque. With instacheque, all an investor has to do is visit a PruICICI customer service centre on any business day in Mumbai, Delhi, Bangalore, Calcutta or Chennai, fill in an instachequye redemption request and collect the cheque over the counter. Instacheque facility will be available under its income plan in Mumbai, New Delhi, Calcutta, Chennai and Bangalore. Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.
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