Transaction charges - fraud

[vazu]

Hi all of you,

I am now posting a circular released by NSE.

NATIONAL STOCK EXCHANGE OF INDIA LIMITED

FINANCE & ACCOUNTS DEPARTMENT

CIRCULAR


To all Trading Members in Capital Market Segment

Circular No: NSE/F&A/6665 Date: September 20, 2005

Sub: Reduction in Transaction charges payable in respect of Capital
Market Segment

Trading members are aware that the transaction charges were being levied @ Rs 10.00 per lakh (0.01%) of the transaction value (each side) in the Capital Market Segment in the beginning by the Exchange. The same has been periodically reviewed and reduced over a period of time. At present, the Exchange levies transaction charges @ Rs 4.00 per lakh (0.004%) of the transaction value on each side.

The charges have been since reviewed once again and it has been decided to reduce the same further to Rs. 3.50 per lakh (0.0035%) of the transaction value (each side).

In view of the above, it is hereby notified to all trading members in the Capital Market Segment that with effect from 1st October 2005,the transaction charges on all trades done in Capital market segment will be levied @ Rs 3.50 per lakh (0.0035%) of the transaction value(each side).

We hope that the Trading members will pass on the benefit to their constituents.

For National Stock Exchange of India Limited
J. Ravichandran

Director (F&L)

All brokers do not adhere to the norms. They charge more than 0.02 % on turn over. It is against Law. The client- brokers agreement must invariably contain transaction charges are as specified by NSE. Please note that this applicable only for Equities and not for options & futures. My broker swallowed more than Rs.20000/- on account of transaction charges.

I have served a notice on him taht I am taking up with Arbitration authorities as per LaW. He is unable to reply.

All traders are requested to verify their trade bills regarding transaction charges and if found excessive send a notice ro thier brokers by REGD post Ack Due.

Calculate the loss. It is a financial fraud. Send email to SEBI and NSE to invesitigate.

The TEXT of email must be:
Brokers charge more than the stipulated transaction charges. Please investigate

Your name:
Your Broker name
Your Client ID

As I am legal person, in case you want assistance, I will be glad to do it.

Regards
Vazu

 

[rkkarnani]

It shall not be out of place to mention that NSE had waived the Transaction charges on Mini Nifty contracts from 1st Jan to 31st March 2008. May have been extended further.

 

[shanki99]

Vazu

Can u plz tabulate what are various other charges that can be levied by brokers across segments such as Delivery, Non Delivery, Cash and F&O etc

Thanx
Shanki

 

[chansy]

Vazu,

Thanks for the information. What happened after your serving the notice? I have a similar case. My broker is charging me 0.102% on my OPTIONS turnover as NSE transction charges which probably includes also SEBI charges & stamp duty. I feel this is high. He is not responding to my queries on the matter. I would like to know what I should do next? Any advise?

 

[andrewjuliandavid]

Hi all of you,

I am now posting a circular released by NSE.

NATIONAL STOCK EXCHANGE OF INDIA LIMITED

FINANCE & ACCOUNTS DEPARTMENT

CIRCULAR


To all Trading Members in Capital Market Segment

Circular No: NSE/F&A/6665 Date: September 20, 2005

Sub: Reduction in Transaction charges payable in respect of Capital
Market Segment

Trading members are aware that the transaction charges were being levied @ Rs 10.00 per lakh (0.01%) of the transaction value (each side) in the Capital Market Segment in the beginning by the Exchange. The same has been periodically reviewed and reduced over a period of time. At present, the Exchange levies transaction charges @ Rs 4.00 per lakh (0.004%) of the transaction value on each side.

The charges have been since reviewed once again and it has been decided to reduce the same further to Rs. 3.50 per lakh (0.0035%) of the transaction value (each side).

In view of the above, it is hereby notified to all trading members in the Capital Market Segment that with effect from 1st October 2005,the transaction charges on all trades done in Capital market segment will be levied @ Rs 3.50 per lakh (0.0035%) of the transaction value(each side).

We hope that the Trading members will pass on the benefit to their constituents.

For National Stock Exchange of India Limited
J. Ravichandran

Director (F&L)

All brokers do not adhere to the norms. They charge more than 0.02 % on turn over. It is against Law. The client- brokers agreement must invariably contain transaction charges are as specified by NSE. Please note that this applicable only for Equities and not for options & futures. My broker swallowed more than Rs.20000/- on account of transaction charges.

I have served a notice on him taht I am taking up with Arbitration authorities as per LaW. He is unable to reply.

All traders are requested to verify their trade bills regarding transaction charges and if found excessive send a notice ro thier brokers by REGD post Ack Due.

Calculate the loss. It is a financial fraud. Send email to SEBI and NSE to invesitigate.

The TEXT of email must be:
Brokers charge more than the stipulated transaction charges. Please investigate

Your name:
Your Broker name
Your Client ID

As I am legal person, in case you want assistance, I will be glad to do it.

Regards
Vazu

Sir my broker also done the same fraud.. pls help me regarding this..on how to proceed.. and what happend to your case sir

 

[iinfo]

EQUITY SEGMENT

Transaction Charges will be charged @ 0.0035% for NSE and 0.0034% for BSE on turnover.

Stamp Duty will be charged at 0.01% on delivery trades and 0.002% on non delivery trades.


F&O SEGMENT

Transaction charges for future @ 0.002% on turnover and for option @0.05% on premium will be charged

SEBI Turnover Charges for future @ 0.0002% on turnover and for option @0.0002% on premium will be charged.

Stamp Duty for future @ 0.002% on turnover and for option @0.002% on premium will be charged.

 

[bbboy]

Hi all of you,

I am now posting a circular released by NSE.

NATIONAL STOCK EXCHANGE OF INDIA LIMITED

FINANCE & ACCOUNTS DEPARTMENT

CIRCULAR


To all Trading Members in Capital Market Segment

Circular No: NSE/F&A/6665 Date: September 20, 2005

Sub: Reduction in Transaction charges payable in respect of Capital
Market Segment

Trading members are aware that the transaction charges were being levied @ Rs 10.00 per lakh (0.01%) of the transaction value (each side) in the Capital Market Segment in the beginning by the Exchange. The same has been periodically reviewed and reduced over a period of time. At present, the Exchange levies transaction charges @ Rs 4.00 per lakh (0.004%) of the transaction value on each side.

The charges have been since reviewed once again and it has been decided to reduce the same further to Rs. 3.50 per lakh (0.0035%) of the transaction value (each side).

In view of the above, it is hereby notified to all trading members in the Capital Market Segment that with effect from 1st October 2005,the transaction charges on all trades done in Capital market segment will be levied @ Rs 3.50 per lakh (0.0035%) of the transaction value(each side).

We hope that the Trading members will pass on the benefit to their constituents.

For National Stock Exchange of India Limited
J. Ravichandran

Director (F&L)

All brokers do not adhere to the norms. They charge more than 0.02 % on turn over. It is against Law. The client- brokers agreement must invariably contain transaction charges are as specified by NSE. Please note that this applicable only for Equities and not for options & futures. My broker swallowed more than Rs.20000/- on account of transaction charges.

I have served a notice on him taht I am taking up with Arbitration authorities as per LaW. He is unable to reply.

All traders are requested to verify their trade bills regarding transaction charges and if found excessive send a notice ro thier brokers by REGD post Ack Due.

Calculate the loss. It is a financial fraud. Send email to SEBI and NSE to invesitigate.

The TEXT of email must be:
Brokers charge more than the stipulated transaction charges. Please investigate

Your name:
Your Broker name
Your Client ID

As I am legal person, in case you want assistance, I will be glad to do it.

Regards
Vazu

Pls. also explain how to calculate the transaction etc.. ?
transaction charges means STT ??
pls. give proper calculation formula, so everyone can check and file a complaint.
thanks

 

[deelip]

Re: Transaction charges -

CHARGES ON BSE/NSE FUTURE OPTION

service tax on brokerage 10.3% 10.3% 10.3%

other charges on turnover 0.0052% 0.0039% 0.0522%
(intraday) (on premim)

other charges on turnover 0.0132% ----- ---------
(intraday)

STT(intraday) on turnover 0.025% 0.017% 0.017%
(on selling) (on selling) (on selling)

STT(delivery) on turnover 0.1250% ------ -------

TRANSACTION CHARGES ON CURRENT BASIS

 

[deelip]

Service tax for bse/nse (on brokerage) 10.3%, for future 10.3%, for option 10.3%

other intraday charges (intraday)(on turnover) for nse/bse 0.0052%, for future 0.0039%, for option0.0522%(on premim)
delivery charges ( on turnover ) for bse/nse-0.0132%
stt intraday( on turnover ) for nse/bse-0.025%----for future -0.017% on selling---for option 0.017% (on premim)
stt for delivery on turnover 0.1250%

 

[chulbul pandey]

hey,

I think the transaction tax charges by exchange slabwise to broker is variable based on the turnover done by them and they need to pass on the difference to clients ... I think no brokers like (IIFL or Sharekhan) are passing on the benefit to clients by reducing the overall cost of trading .

can any one confirm this ...