... to levy uniform transaction fee on currency derivatives

Top stock exchange BSE has decided to levy a flat transaction charge of Rs 10 per crore of turnover on both active and passive trades done on its currency derivative segment from April 1. Currently, Rs 10 per crore transaction fee is levied on only active side of the trade transaction on currency future contracts. Similarly, for currency options contract the transaction fee is also Rs 10 per crore active side of the transaction on premium value. “Trading members of currency derivative segment may please note that exchange shall levy the transaction charge of Rs 10/- per crore flat on both active and passive side of trades done in Currency derivative contracts with effect from April 1, 2016,” BSE said in a circular.

For currency futures contracts, transaction charges will be applicable on the value of the transactions (price X quantity), while currency options contracts, transaction charges will be applicable on the premium value (premium X quantity) at the time of trading.

BSE had launched its currency derivatives platform in November 2013 and did not levy any transaction fees for trades done on this segment for almost a year. However, since December 2014 it began charging for currency derivatives. It levied a Rs two per crore of turnover for two months from December 1, 2014 to January 31, 2015, and then increased to Rs 4 for the next two months.