Mumbai, July 13: In an effort to increase memberships of derivatives segment, the Bombay Stock Exchange, (BSE), has decided to waive off the initial payment of three lakh rupees for existing cash segment brokers to become member of derivatives trading section. Similarly, the existing members of derivative segment, who have already paid three lakh rupees, would be allowed to set off these fees against various charges levied for this segment like annual fees and transaction charges, BSE said in a communication here.
At present, BSE brokers seeking membership of the derivatives segment have to pay an initial contribution of three lakh rupees - two lakh rupees for investor protection fund and one lakh rupees as contribution towards trade guarantee fund – the exchange said.
Currently, this segment has about 200 members with an average daily turnover of about one-two crore rupees, BSE sources said. Bureau Report