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July 11, 2001
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Money > Business Headlines > Report July 11, 2001 |
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BSE offers sop to propel trade in derivativesSangita Shah The Bombay Stock Exchange has now announced an incentive scheme based on volumes to promote derivatives trading. The exchange has announced that it will waive the monthly charges of Rs 1,000 per terminal, per month for members transacting more than 1,000 contracts per month, and are among the top 10 members for that month based on turnover in the derivatives segment. The governing board of BSE's derivatives segment has approved a terminal-based incentive structure for members so that it would promote larger volumes in the derivatives segment of exchange. Up till now the members of the derivatives segment were provided 2 DTSS (derivatives trading and settlement system) terminals free of cost beyond which they were charged Rs 1,000 per terminal per month for every additional terminal. Though the free terminal would continue, the monthly charges on additional terminals will be waived for the three months beginning July 1, 2001, and ending on September 30, 2001. Earlier, on June 26 the BSE's derivatives segment had announced a lower transaction charge and had also waived clearing charges for the period ending September. Under the lower fee structure BSE charges to Rs 1.25 for transacting. However these charges will be applicable on per side of the contract up to September 30, 2001, only. From October 1, 2001, the charges would be Rs 5.00 towards transaction charges and Re 1.00 towards clearing charges per side of the contract for index futures, index options and stock option contracts. Powered by YOU MAY ALSO WANT TO READ:
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