- Illiquid Markets. Money Management
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Some dabba traders hedge their positions in the market by partly executing the trade in the market, maybe in their own proprietary accounts or some benami names. Dabba traders disappear when the market goes against them, resulting in huge losses for their clients. The brokers who permit such activity in their branches or even sub-broker’s offices are the affected parties. Stock exchanges take complaints against dabba trading very seriously and enforce strict penalties. Even suspension is levied, if stock exchange inspections confirm the complaint.
Illiquid Markets. Money Management
Trades have also been reported from other mentha growing areas in UP like Sambhal and Rampur. Mentha oil has always been a speculators’ delight and in the past even some big stock market players have played the Futures on the official exchanges. Despite the risks, dabba trades are generating volumes of three to four times the combined turnover in both the exchanges.
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This presents before us the picture of an outlaw practicing amidst us, the organized price discovery mechanism of stock exchanges to run an illegal business, while maintaining the façade of a stock market broker. It is a criminal offence, not much different from smuggling or black marketing. As a result, frequent raids are conducted on dabba trading operators in which their computers and records are seized. Those working in his office are also taken in the custody just like drunkards found in the illegal toddy shop. The Gujarat police has conducted several raids in the past and alerted citizens. Media has also played its role in reducing the menace of dabba trading.
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Concerned over growing illegal futures trade in commodities, the sector regulator Forward Markets Commission (FMC) has started holding training programmes for police forces across states where such trading has proliferated.
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According to the industry estimates, the size of illegal futures trade (also known as 8766 dabba trading 8767 ) in commodities is expected to be up to Rs 8,55,555 crore a day in the country. In India, Gujarat and Uttar Pradesh are two main centres for dabba trade. As if dabba trading in stocks and commodities was not enough, punters in Rajkot and other part of Saurashtra have even started foreign currency trading. Foreign currencies such as the Euro, pound, yen and Australian dollar have become the hot favourites of this market which has a daily turnover of Rs 655 crore.
In a recent incident, a dabba trade racket in menthe oil was busted at Chandausi in Uttar Pradesh. In fact, the unofficial dabba trade in Chandausi is believed to have driven away mentha volumes, by as much as 85% since last year, from two of the online national exchanges — MCX and NCDEX.
Rajandran attended college in the Chennai where he earned a BE in Electronics and Communications. Rajandran has a broad understanding of trading softwares like Amibroker, Ninjatrader, Esignal, Metastock, Motivewave, Market Analyst(Optuma),Metatrader,Tradingivew,Python and understands individual needs of traders and investors utilizing a wide range of methodologies.
We often read about dabba trading, not being permitted by the regulators. Many do not know the mechanics, and also the risk associated with it, till now.
I have booked loss of arnd 7lalh in dabba frm 6 jan to 69 jan, nw if i will not pay my debt they can kill me, i dont want to die, or run away from home, i love my parents, please some one help or assist, what i Shld do nw , i am 79 year old only