NSE has decided to levy transaction charges on trades in its currency derivatives (futures and options) segment. The move that follows a Competition Commission order holding it guilty of abusing its dominant position with this ‘predatory' pricing.
The NSE would, however, challenge the CCI order.
For currency futures contracts up to Rs 2,500 crore a month, members have to pay Rs 1.15/ lakh of traded value each side (buy side and sell side separately). Additional volume of up to Rs 5,000 crore a month would be charged Rs 1.1/ lakh for each side.
Further additional volume of up to Rs 7,500 crore a month would be Rs 1.05/ lakh for each side, and any further additional volume would be Re 1/ lakh for each side.
Option premia of up to Rs 250 crore a month would be Rs 40/ lakh of traded value for each side.
NSE has also decided to levy advance transaction charges of Rs 50,000 a member a year which would be set off against actual transaction charges payable by the member in the financial year.
Admission fee for the existing NSE members seeking currency derivative segment (CDS) membership has been pegged at Rs 1 lakh and for others at Rs 5 lakh.