The Exchange has been levying transaction charges on securities traded and settled in Physical mode in Equity Segment as per the framework published vide Circular No. 20140818-12 dated August 18, 2014 and Circular No. 20140827-29 dated August 27, 2014.
As per the aforesaid circulars, the transaction charges on securities traded and settled in physical mode in Equity Segment are levied at the rate of Rs.1,00,000 per crore of Gross Turnover. This levy is applicable on T day and the same reflects in the transaction charges report made available to members at end-of-day.
Going forward, for cases wherein the settlement pay-in has been made in demat mode on T+2 day in such securities, the Exchange shall provide transaction charge offset at the time of processing of monthly transaction charge debits. The details of this offset procedure are as below -
1. The Exchange shall identify the extent of demat delivery made by the seller in each settlement pay-in during the calendar month period.
2. The Exchange shall calculate value of such demat delivery. This shall be done using the average rate of trades done by that member in that scrip on T day.
3. An appropriate adjustment in transaction charges corresponding to above demat delivery value shall be carried out in Exchange systems so that the effective debit for such cases shall be in line with the regular rate transaction charges i.e. Rs. 275 per crore of Gross Turnover.
4. The settlement wise details of aforesaid adjustments shall be shown in the monthly ‘General Charges Bill’ in annexure along with other details as provided currently.
5. All such adjustments shall be merged with the total transaction charges due for the calendar month and the net amount of transaction charges shall be charged to member.
6. In case the net amount results into a credit the same shall be credited along with Service Tax as applicable.
These revisions have been made applicable for transactions with effect from January 1, 2015.
For any further clarifications, Trading members are requested to contact their designated Relationship Managers.
For and on behalf of BSE Ltd,
|
Rajesh Saraf
|
Ketan Jantre
|
|
Sr. GM-Trading Operations
|
GM-Trading Operations
|
January 5, 2015 |