Mumbai: National Stock Exchange of India Ltd (NSE) said on Wednesday its capital market trading members will be allowed to set off their annual subscription charges of Rs.1,00,000 against transaction costs, starting 1 October. The move comes after new entrant MCX-SX Ltd announced transaction charges up to 50% lower than that of NSE.
“Members will be able to set off this annual subscription charge of Rs.1,00,000 per annum against their transaction charges. That is, annual subscription charges are no longer a fixed overhead. In the futures and options segment, advance transaction charges are currently being offset against transaction charges of the current year. Whatever is not utilised can be carried forward till they utilise the same,” NSE said in a release.
NSE charges Rs.3.25 for every Rs.1,00,000 worth of trade till Rs.1,250 crore in its cash segment. As the turnover goes up, the charges progressively come down.
In a recent announcement, MCX-SX said it will levy a transaction charge of Rs.2 per Rs.100,000 for the first Rs.1,000-crore trade. The charges come down as the turnover goes up.
Rival BSE Ltd, Asia’s oldest bourse, charges between Rs.2.25 and Rs.3.25 per Rs.1,00,000 in the cash segment. Staff writer