Mumbai, May 17: Market regulator Securities and
Exchange Board of India (SEBI) today proposed to introduce a
new fee structure for brokers in the cash and derivatives
SEBI has sought public comments on the proposed system
till June 10, 2006. The recommendations have three components
-- for new brokers in the cash segment, existing and new
members (trading and clearing members) in the derivatives
segment and existing brokers in the cash segment.
The proposed structure has been put in place following a
report submitted by the committee for revision of the fee
structure headed by D C Anjaria.
As per the new scheme, the regulator has recommended to
charge one fifth of the amount recommended by the Anjaria
Committee for new brokers in the cash segment.
The committee had interalia recommended a fees at the
rate of Rs 100 per Rs one crore of turnover.
For the existing and new brokers in the derivatives
segment, the Anjaria Committee suggested phased upward
revision of fees from Rs 10 per Rs one crore turnover to Rs 50
per Rs one crore turnover.
SEBI, after discussing with representatives of brokers,
has proposed to increase the fee from Rs 10 per Rs one crore
to Rs 20 per Rs one crore of turnover.