We are a research focused broking services across various markets and asset class like equity, commodities, currencies, mutual funds, SIPs etc.We are a full-services broker, and strive to make investing a gainful and satisfying experience with our investment calls. For traders, our intraday, positional and option calls can be a good edge. Add to it our multiple trading platforms- simple-free to use ones or the trend scanning- premium ones, flexi-limits, and prepaid or postpaid brokerage slabs- and you cannot, but help smiling!!
Acumen Group, formerly Peninsular Group is a pioneer player in the Indian capital market, since 1996, promoted by a group of professional stockbrokers. Group having Security Market membership in NSE, NSE Derivatives, BSE, NSDL and Commodity Market membership in MCX, NCDEX, NMCE and DGCX.
At Acumen, we promise to keep to rediscovering ourselves & redefining our services to ensure that we deliver what we dreamt and promised to deliver :
We commit ourselves to deliver services that best meet our clients’ satisfaction; protection to our clients’ money maximizing the opportunities and minimizing the risk. We further commit to get things right, the first time, to deliver the best value for money & time to our customers. We will continuously invest in our people and technologies and keep our people abreast with the latest changes & developments, information and technologies. to deliver quality & unparalleled service.
We strive to provide our customers with the best and the most reliable service while offering the best in today’s market environment.
We offer some of the best trading platforms available today. With platforms ranging from the most user friendly to the latest technology best, like trade in all exchanges through a single VSAT on a single computer etc.
Acumen is dedicated to provide you with the exceptional commodity future trading expertise from trade inception to execution. Our team of commodity professional’s work round the clock to provide you the best solutions for your trade.
We place high priorities on client education, awareness & communication.
Pages from world history say that Commodity Futures was first introduced to the world by a Wheat farmer in Chicago in 1820, and by 1840 the organised Commodity Futures Exchange was formed in Chicago by the Wheat Farmers. In India, Commodities trading began with cotton in 1845. Over the last 5 years, with the launch of tech savvy National Commodity Exchanges, having reach all over the country and dealing in almost all commodities, trading has exploded. Commodities have now emerged as a separate asset class, helping investors to diversify their portfolios.
Farmers can now sell their produce whenever they feel that the price is right, even before they actually harvest the crop. To the traders, exporters and manufactures, commodity futures is one best available option or procuring their required raw materials, judging the market movements, and to plan their operations suitably. There are also good opportunities for financiers & traders.
Trading commodities enables you to participate in broad market moves or within specialized sectors. Energy moves the world, you have seen oil prices rise and fall – Gold is constantly in the news, ever vigilant for inflation or geo-political trouble – Food, Grains, Precious and Industrial Metals – these are all part of this world. So these products are widely used by financial professionals as well as individual investors, for portfolio protection as well as investment reward.
The Indian capital market went through a major transformation with the introduction of the depository system which replaced the paper-based settlement of trades. The depository system is one in which securities are held electronically and transactions are processed by book entry. In the depository system, securities are held in depository accounts similar to bank accounts. The depository system links the issuers, the depository, the depository participants (DPs), and clearing houses of stock exchanges, facilitates holding of securities in dematerialised form and effects transfers by means of account transfers. This method does away with all the risks and hassles normally associated with paperwork and also lower the cost of transactions.
99 per cent of trading of shares in India has been dematerialised. Around 7383 companies along with a host of debt instruments and commercial; papers are available for Demat.
Acumen which began its Depository operations as early as 1999, is a depository participant with NSDL, India’s first Depository. The operations of Acumen’s depository services are managed by a well-knit team of dedicated, professionally qualified staff member who leave no stone unturned in their goal of “Customer Delight”, offering you not only a host of services like demat, remat, security transfer, pledge creation but also value added services like 24X7 online holdings, transaction statements, account statements etc. – at costs that are among the most reasonable in the industry.
Wealth management is all about taking care of the needs of our clients, their families and their business needs as part of a long-term, consultative relationship. It involves the entire spectrum of personal finance issues and activities – from monthly bill payment to long-range estate planning. It also encompasses income tax planning and return preparation, investment management, risk management, retirement planning, funding, and administration, etc.
Wealth management industry’s most significant change, of late, is its shift from a product-centric to a customer-centric model. Traditionally targeting only high-net worth clients, the industry is now reaching out to the mass customer segment.
The odds today are bigger than ever. Although wealth management players are adopting business models that zero in on niche customer segments, customers themselves have become more demanding. They insist on getting the benefits of new technologies, new products and new relationship models. In its narrowest sense, wealth management is merely the latest synonym for Investment Management, Asset Management, or Portfolio management.
Wealth Management process involves strategic planning & restructuring the portfolio in such away that the client achieves his prefixed goals in each stages of his life.
We @ Acumen address the entire spectrum of Wealth Management options & take pleasure in making a Plan for you to Achieve your Dream. Our professionally qualified and experienced research & advisory team will assist you in strategic planning, asset allocation, portfolio construction & rebalancing.
Currency Futures were launched in India on August 29, 2008. Acumen offers Currency Futures trading through National Stock Exchange (NSE) and MCX Stock Exchange (MCX-SX).
Currency Futures is a standardized foreign exchange derivative contract on a recognized stock exchange to buy or sell a standard quantity of one currency against another on a specified future date at a specified price. It allows clients to take a view on the movement of the exchange rate as well as hedge against currency risk. Clients can use Currency Futures as a trading, investing and hedging tool. Currently only USD-INR contracts are available for trading.
Futures are Exchange traded contracts whereas Forwards are over-the-counter (OTC) contracts. Futures are standardized with respect to quantity, quotation method and date of expiry whereas Forwards are tailored to meet the needs of the individual customers. As futures are exchange traded the counter party risk is minimal. Marking to market is done at the end of every trading day in future market while no such adjustments is carried out in forward market.
Only ‘persons resident in India’ may purchase or sell currency futures to hedge an exposure to foreign exchange rate risk or otherwise. Any resident Indian or company including banks and financial institutions can participate in the currency futures market. At present Foreign Institutional Investors and Non-Resident Indians are not permitted to participate in the currency futures market.
There are three categories of market participants in the Currency Futures Market:
Hedgers use Currency Futures to protect an existing portfolio (or an anticipated investment) against possible adverse movement. Hedgers have a real interest in the underlying currency. They use futures to reduce their risk and protect their profits in the underlying activity. Investors use Currency Futures as an instrument for investment in the hope of making a profit in the medium and long term. They have no interest in the underlying currency other than taking a view on the future direction of the currency price. Day traders have also been attracted by an opportunity to trade in Currency Futures. Arbitrageurs profit from price differential of similar products in different markets, e.g. price differential between the outright exchange rate and the futures price.
Contracts are traded in the multiple of 1 lot. 1 lot = USD 1000. Contract months
The contract months for Currency Futures are near 12 calendar months. Each contract is identifiable with its month of expiry, e.g. the May 2010 contract is shown as USDINR 270510.
Currency Futures are quoted in INR per USD up to four decimal places for a particular maturity, e.g. 1 USD=47.9525 INR
The minimum price movement up or down is by INR 0.0025 (quarter of a paisa), which results in the value of one contract moving up or down by INR 2.50.
Last day for trading of the contract is two working days prior to the final settlement day. Settlement The Currency Futures contracts are cash settled in INR. No physical delivery of the underlying currency takes place.
Settlement price of a contract is the USD-INR Reference Rate given by the Reserve Bank of India on the last trading day of that contract. As RBI Reference Rate is fixed at 12:00 noon, effectively the contract for that month stops trading at that time on the last trading day.
Last business day of a month for inter-bank forex settlement in Mumbai, as per FEDAI guidelines, is the final settlement day for that particular month’s contract. Timings
9:00 a.m. to 5:00 p.m. Monday to Friday.
Holiday list is published by respective exchanges. Generally, the Currency Futures segment holidays and the forex market holidays at Mumbai are same.
Trading on exchange ensures that there is a buyer and a seller to each contract traded. The clearing house becomes the counter party in all trades once each transaction has been matched and confirmed. The clearing house therefore ensures settlement of each trade. Margining is an important process through which performance of contracts is enforced. The trading open position of the client will be based on his available margin.
When a position is initiated either short or long, the client is required to pay an initial margin. The minimum initial margin is calculated as 1.75% on day one and 1% thereafter. Margins are calculated by exchange using SPAN.
When a Currency Future position of a particular maturity is hedged by an offsetting position of a different maturity, Rs. 250/- Calendar Spread Margin is charged.
Extreme Loss Margin is computed at 1% of the MTM value of the gross open position.
The exchange values each position daily at the close of each business day and this process is known as Marking-to-Market. At the end of each trading session, the system calculates the dosing price as the weighted average price of all the trades done during the last 30 minutes of the trading session. Any difference from the previous day’s MTM price is either paid to the clients or paid by the clients in INR.
Currency Futures position is closed out by entering into an equal but opposite transaction. Those who entered either by buying (long) or selling (short) a futures contract can close their contract obligations by squaring-off their positions at any time during the life of that contract by taking opposite position in the same contract.
A long (buy) position holder has to short (sell) the contract to square off his position or vice versa.
Clients will be relieved of their contract obligations to the extent they square off their positions.
All clients who wish to hold their positions beyond the expiry date of the contract will be required to roll their positions over into other desired maturity contracts. In other words if a client holding a long February contract needs to roll over his position to let us say June contract then he would have to sell the February contract and buy a June contract and the margin would be adjusted. Technically, it amounts to unwinding of an existing position and entering into a fresh one.
All contracts that have neither been closed out nor rolled over before expiry will be automatically closed out by the exchange at 12:00 noon on the last trading day of that contract.
To complete KYC form, Client Agreement and other required documents Read and understand fully the exchange provided Risk Disclosure Document for currency derivatives segment and Investors’ Rights and Obligations.