New Delhi, Sept. 8 (PTI): Commodity market regulator FMC has imposed an additional margin of five per cent on base metals trading in futures, to tackle the volatility in the market. The increased rate will be effective from Monday.
The hike will be for all the contracts of base metals, namely aluminium, copper, lead, nickel and zinc traded on the national exchanges, FMC said in the order.
A margin is the initial minimum amount of cash an investor must put in to open an account to start trading.
The move comes a week after the FMC doubled the margin on gold futures.