Sebi allows commodity bourses to raise transaction charges
The commodity derivative exchanges will ensure that the ratio between highest to lowest transaction charges in the turnover slab of any contract is not more than 2:1, Sebi said
New Delhi: Capital markets regulator Securities and Exchange Board of India (Sebi) on Wednesday allowed the commodity derivative exchanges to keep the highest transaction charge in turnover slab of any contract at a maximum of double the lowest charge in the same segment.
Currently, the maximum permissible ratio for the highest and lowest transaction charge in a slab is 1.5:1. “The exchanges will ensure that the ratio between highest to lowest transaction charges in the turnover slab of any contract is not more than 2:1,” Sebi said in a circular issued on Wednesday.
The decision has been taken in consultation with the commodity derivative exchanges. The circular would come into force with effect from 30 days, the regulator noted. The bourses levy different transaction charges for different commodities’ contracts and even in the case of contracts of the same commodity.
Sebi started regulating commodities market since September 2015, following the merger of Forward Markets Commission (FMC) with itself. Earlier in September 2016, the regulator had prescribed norm that need to be followed by the commodity derivatives exchanges while levying transaction charges for the commodity trade.
Editor's Picks »
- NCLT allows extension of the deadline to evaluate bidders of Mandhana Industries
- Smart Cities Mission is too project-based and lacks integrated vision: Report
- West Bengal chief minister Mamata Banerjee cancels China visit
- Chai Point expects aggressive growth in its vending machines business
- Symphony to buy out Climate Technologies