Name the company, which has become the first-ever broking arm of a bank to take membership of a commodity exchange by registering itself with NCDEX.

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	South Securities
B	Kotak Securities
C	HDFC Securities
D	Axis Securities

Explanation:

Detailed explanation-1: -After SEBI permitted bank subsidiaries to provide broking services in commodities derivatives, Axis Securities has became the first ever bank led broking entity to take membership of a commodity exchange.

Detailed explanation-2: -The first organised futures market was established in 1875 by the Bombay Cotton Trade Association to trade in cotton contracts.

Detailed explanation-3: -National Commodity & Derivatives Exchange Limited.

Detailed explanation-4: -It was incorporated on April 23, 2003, as a public limited company under the Company Act 1956 and started functioning on December 15, 2003. The Securities and Exchange Board of India (SEBI) regulates NCDEX.

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