This has reference to Exchange notice nos. 20130819-2 dated August 19, 2013, 20140717-12 dated July 17, 2014, and 20150515-27 dated May 15, 2015, wherein Exchange has provided a clarification on the Brokerage, Statutory & Regulatory Levies to be charged by the Members. Exchange vide Notice 20140717-12 dated July 17, 2014, has mentioned following provision with respect to brokerage applicable in options contracts across segments in point b of Annexure B of said circular which is as under:
“Option contracts –
As per Notice No. 20120913-8 dated September 13, 2012, maximum brokerage on options contracts shall not exceed 2.5% of the premium amount or Rs 100/- (per lot) whichever is higher. Further, the trading members can charge brokerage for option contracts only on the premium amount at which the option contract was bought or sold and not on the strike price of the option contract.”
It has come to the notice of the Exchange that aforesaid provision mentioned with respect to brokerage applicable on Option contracts is being interpreted to be applicable only for Futures & Options segment and not for Currency Derivatives segment. In view of the same, it is reiterated that aforesaid brokerage rates are applicable on Option contracts in Futures & Options segment as well as Currency Derivatives Segment and accordingly, the brokerage on options contracts in the Futures & Options segment or Currency Derivatives segment shall not exceed 2.5% of the premium amount or Rs.100/- (per lot) whichever is higher.
All Members are advised to take note of the above and comply.
For and on behalf of BSE Ltd.
Kiran Sawant Sandeep Sharma
Asst. Gen. Manager Asst. Gen. Manager
Brokers’ Supervision Brokers’ Supervision
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