This message does offer some relief. But I will need you to clarify if we can retain our open positions till their respective expiry dates. I personally have it till April-end (i.e. 26th April)
Same with me !
You may be misunderstanding the message. This is what Zerodha is telling.
Zerodha is saying that it will attempt to square off the positions tomorrow, not today.
Most of the other brokers as shared above are also following the same stance that they will square off positions as well.
The message flash says āattempt to closeā but if you click the link, you donāt get the same wording.
To me, it seems like all brokers basically forgot about the RBI circular from January 5, 2024.
Now when NSE reminded them on 1st April regarding it, they all woke up.
Really patheticā¦
Exactly what I am thinking
And now they want us to sign that its nothing their fault.
Does this mean that we are now left to the mercy of market makers and a mass murder of retail CDS traders?
without speculators there will be no liquidity in these contracts which was already very low. RIP currency trading
Yes exactly. Only Zerodha has spoken about this but that too without clarity. Other brokers have not even brought this up until today.
Just to confirm, it is applicable on Futures contracts as well?
Because I see Future contracts are not inflated but options are rocketing?
And I wonder how this last date of 5th April was fixed?
Any simple logic will mean that the date should have coincided with the Expiry date of respective contracts
Im not sure but since its a blanket statement saying currency segment im assuming its applicable to both futures and options.
If India has to take pride in offering a free and orderly functioning Capitla market- this situation is exactly opposite of that!!
lol ā¦ They took the Taxes on my last year profits and clapped losses now
Samjhna kya hai isme
Yeah,
And remember recently IMF had blamed RBI of overmanaging INR movement and volatility
Somehow that also seems to have pressured them to show to the world that our currency markets also have volatility
In one way they are giving clarity and in another way they are playing safeā¦
Nobody want to take the fall for their mistakes/