Axis Bank was founded on 1993 in Mumbai to become what is today India’s third largest private sector bank. The corporation currently operates in 4 financial segments that include: treasury, corporate, wholesale and retail banking. The equity shares of the company are traded on the National Stock Exchange of India and Bombay Stock Exchange while the company's GDR’s are listed on the London Stock Exchange. With over 29103 branches internationally, Axis Bank is creating positive impact for companies, individual customers and communities from all around the globe.
Vision
“To be the preferred financial solutions provider excelling in customer delivery through insight, empowered employees and smart use of technology”
Values
Axis believes that a company’s value can be measured by the company’s core beliefs and values. All the decision making at Axis Bank is always checked to assure it aligns with the values of the company. These values include:
• Customer Centricity
• Ethics
• Transparency
• Teamwork
• Ownership
When choosing the best investment vehicle, futures contracts offer a long list of advantages for traders. Having been traded in the form of a future, Axis Bank also carries with it these advantages.
The Benefits of trading Axis Bank futures are mentioned and described below:
-Instant access to profits
Unlike many other trading vehicles, trading futures provides you with instant access to your profits.
-Holding on to trade positions
While trading Axiz Bank futures, you may have a whole year to hold on to your position without worrying about roll-overs or interest rates
-Low Margin requirements
As previously mentioned, futures trading is a highly leveraged trading instrument. It follows that Futures margin requirements are incredibly low. As a result, traders can expose themselves to a larger value of stocks than they could when trading the original stocks.
Brief Income Statement*
Capitalization: 130,8073 million INR
Sales: 1971333 million INR
Net Income: 3495.12 million INR
*Annual report of 2016
A key factor of trading futures successfully is being educated about potentially profitable trading opportunities and knowing their in-depth specifications and benefits. The table below is provided for further details about the contract.
| Contract | Parameters |
|---|---|
| DGCX Contract Symbol | DAXSB |
| Underlying Equity | AXIS BANK LTD. |
| Underlying Country | India |
| Contract Size | 10 |
| Notional Contract Value | (Price * Contract Size) in USD |
| Price Quote | Underlying Equity price expressed in USD (example: Bid: 435.6 / Ask 435.7) |
| Minimum Tick Size | 0.1 |
| Tick Value | USD 1 |
| Trading Days | Monday through Friday |
| Trading Hours | 07:00 - 23:30 Hours Dubai time (GMT+4) |
| Trading Months | First two (2) serial months and 1 calendar spread |
| Last Trading Day ** | Last Thursday of the Calendar Month |
| Cash Settlement Day** | Business Day following the Last Trading Day |
| New Contract Listing | Business Day immediately following the Last Trading Day |
| Final Cash Settlement Price Basis |
Based on the market closing price of the Underlying Equity on the Last Trading Day in the Underlying Country (source: public domain) |
| Settlement Basis | Cash settled in USD |
| Wholesale Trades | Minimum permitted block size is 100 lots |
| Max Open Position Limit | As determined by the Exchange from time to time |
| Max Order Size | 1,000 lots |
| Daily Price Movement limit | No Limit, Note 1* |
| Initial Margin based on SPAN | USD 650 (Based on SPAN, subject to change from time to time) |
| Calendar Spread Margin | 100% benefit is offered on calendar spread positions |
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