Axis Bank Ltd.

Axis Bank’s subsidiary Axis Securities has become the first-ever broking arm of a bank to take membership of a commodity exchange by registering itself with NCDEX. The company is also in discussion with MCX to take its membership.

In September, Reserve Bank of India allowed banks wishing to undertake commodities derivatives clearing to set up a separate subsidiary for the purpose and adhere to the membership norms laid by market regulator Securities Exchange Board of India.

Axis Bank is the third largest private sector bank in India. The bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses.