NSE discontinues advance collection of service charges

Mumbai: Top stock exchange NSE has decided to discontinue advance collection of service charges, including transaction fee related to cash market, equity derivatives as well as currency derivatives segments, from this month.

Besides, the exchange would not collect in advance annual charges for applications related to connectivity and co-location.

The move is effective for all new requests from October 2017, a circular issued by NSE said.

The exchange has decided to discontinue advance collection of service charges "to improve member experience and based on members' feedback".

"Annual advance transaction charges shall be discontinued in cash market, F&O and CD segments," it said.

As per the exchange, it "shall raise appropriate bills on the member at the end of each month for services consumed during that month".

However, the exchange said interest free security deposits (IFSD) and one time charges, if any, wherever applicable would be collected in advance.