New Delhi: Leading stock exchange BSE will start charging transaction fee on per trade basis from Monday, a move that is expected to attract a larger number of big deals.
Under the new system, it will charge Re1 per trade for up to 5 lakh transactions in a month; 70 paise for 5-10 lakh; 60 paise for 10-20 lakh and 30 paise for over 40 lakh.
Earlier, the exchange charged a flat Rs275 per crore on a gross turnover of Rs1 crore.
Market experts said the move is part of BSE’s effort to increase its trading volumes and attract more block and bulk deals. Besides, BSE would levy a flat transaction charge of Rs10 per crore of turnover on both active and passive trades done on its currency derivative segment.
Earlier, Rs10 per crore transaction fee was levied on only active side of the trade transaction on currency future contracts. Similarly, for currency options contract the transaction fee was also Rs10 per crore active side of the transaction on premium value.
BSE had launched its currency derivatives platform in November 2013 and did not levy any transaction fees for trades done on this segment for almost a year. However, since December 2014 it began charging for currency derivatives. It levied a Rs2 per crore of turnover for two months from 1 December, 2014 to 31 January, 2015, and then increased to Rs4 for the next two months.
BSE further hiked the charge to Rs6 from 1 April, 2015 for two months followed by Rs8 for next two months.
Since 1 October, 2015, the exchange has been levying a transaction fee of Rs10 on the currency derivative trades.
