Update – June 26, 2013

June 26, 2013

Traders,

9636395_s.jpgIt has been a rocky few weeks for the equity markets, but as Zerodha, we believe that it is an intermediate downtrend in a bull market. It is the lack of liquidity in the markets which is causing the sudden upward/downward movements.

A few important updates:

1. Commodity transaction tax, which was proposed in the budget, will be introduced from 1st July 2013. CTT which will now be 0.01% of the turnover on the selling side. Do read this blog on the new CTT rates.

2. MCX-SX, the new stock exchange has shown a gradual increase in their turnover. All of you who are enabled on MCX-SX (Stock and Currency Exchange) can start trading from July 1st 2013. You will need to install a new version of ZerodhaTrader, so do send us an email at [email protected] for the installation file. As an inaugural offer, there will be no brokerage charged for trading on MCX-SX (Equity) until Aug 31st 2013. If you are not enabled, fill, print, sign, attach relevant documents and courier this form to us.

3. We have added features on Zconnect like “notifications” to notify you on any activity on your posts when logged in and “Follow This Blog” to notify any discussion on a blog of your interest.

4. Tomorrow is expiry on the stock exchanges, do read this blog to know why it is important to sell your in the money options rather than let it expire.

5. We have over 4000 people taking the Zerodha 60 day challenge, if you haven’t, start today.

6. It is that time of the year when you have to file your Income tax returns, do read this blog on taxation queries when trading the markets.

As usual, don’t forget to refer your friends and family using our Associate Program Module and email suggestions to [email protected]

Looking forward to your continued support.

Happy Trading,

Nithin Kamath

CEO @ Zerodha and partnering startups through Rainmatter to help grow and improve the capital market ecosystem in India. Love playing poker, basketball, and guitar. “You don't have to be a hero to accomplish great things---to compete. You can just be an ordinary chap, sufficiently motivated to reach challenging goals.” - Edmund Hillary

14 comments

  1. Vent says:

    HI Zerodha,

    Just wanna congratulate you for amazing service !!!!

    Keep Going !!!!!

  2. Maddy says:

    CTT WILL BE A BIG COMPONENT TO BREAK-EVEN HAVE TO MAKE NEW STRATEGIES TO SURVIVE..

  3. Maahi_007 says:

    Zerodha,

    All you mean to say is from this month all the STT and CTT are revised ? and more query about MCXSX !! I heard it was live from few days is that true or is it going live on 1st July 2013

    • Nithin Kamath says:

      STT has been revised from June 1st. CTT will start from July 1st.

      MCXSX as an exchange has been live for a while, but it is enabled to trade from Zerodha only now.

  4. S.VIJAYARAGHAVAN says:

    This is Raghavan.S.V. I heard that apart from brokerage Rs.20 any stamp Paper charges for each and every transaction. Can you please clarify? or is it stamp Paper charges for a single day total transaction? I am unable to compare with other brokers.

    Raghavan.

  5. adit says:

    When is the new version if Z5 coming out? The present version is buggy….there are unnecessary scroll bars everywhere and it doesn’t scale properly. All these are just html and css issues..these can be fixed fairly easily. Also the present version does not allow placing cover orders.

  6. Shiva says:

    Hi Guys,

    Great work! Have some queries.

    1) Its tax filing time. I don’t see the financial year 2012-13 being displayed in the “Change financial year” tab in the backoffice login. Please update the same asap. Also if possible try to migrate to non-IE browsers if you can. IE is a pain in u-know-whr. I know its not a priority for zerodha but still nothing wrong in wishing 🙂

    2) NEST plus installation is another bug int eh trader. Either streamline it or else please just kick it out of the terminal. It keeps buggung for log in after u open the terminal

    3) waiting for a new improved trader terminal.

    • Nithin Kamath says:

      Shiva,

      1. It should be showing up, find attached snapshot. If still is not showing send an email to [email protected], we will get in touch with you on this. We will be soon launching backoffice on multi browsers.

      2. There is a new version of NEST plus and ideally once installed it should not ask you for a logging in after you open the terminal. While logging in make sure to click on launch plus.

      3. Improved trading platform, working on it, will take a while though.

  7. mustak1952 says:

    i am a resident of Tamilnadu. In commodity sector is there any stamp duty levied.If so is it for total trade on a day or for each trade. Pl give me a clarification.

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