NATIONAL STOCK EXCHANGE OF INDIA LTD
FINANCE & ACCOUNTS DEPARTMENT
TO ALL TRADING MEMBERS IN THE FUTURES AND OPTIONS SEGMENT
Circular No: NSE/F&A/9553 Date: October 1, 2007
Sub: Transaction fee structure for futures & options contracts of NIFTY Junior, CNX 100 and Nifty Midcap 50
In order to encourage active participation in new indices viz. NIFTY Junior and CNX 100, volume based transaction charges waivers were announced vide circular NSE/F&A/ 8954 dated May 29, 2007. This structure was effective up to September 30, 2007.
Further, the Exchange has announced introduction of derivative contracts on a new index viz. Nifty Midcap 50 with effect from October 05, 2007.
In order to encourage participation in the three indices viz. Nifty Junior, CNX 100 and Nifty Midcap 50, the following revised fee structure shall be applicable for futures & options contracts on these three indices.
(i) If the daily average turnover of a trading member is above Rs.10 crores in any of the above three contracts (based on monthly volume) in the futures sub segment, no transaction charges will be levied on all transactions for that specific contract for that trading member.
(ii) If the daily average turnover of a trading member in any of the above three contracts is above Rs.20 crores (based on monthly volume) in the futures sub segment, transaction waiver equivalent to three times of the turnover in that contract will be provided on turnover in NIFTY futures of the said trading member. In order to arrive at the transaction waiver for these new contracts, only those transactions where the counter party is different from self will be considered.
(iii) No transaction charges will be levied on trades done in NIFTY Junior, CNX 100 and NIFTY Midcap 50 in the Options sub-segment.
The above exemptions shall be effective from October 1, 2007 till December 31, 2007
For National Stock Exchange of
Vice President (Finance & Accounts)