TMI BlogAPPLICABILITYX X X X Extracts X X X X X X X X Extracts X X X X ..... block of five financial years, within the meaning of item I(1)(c) of Schedule III; (e) All stock brokers falling under sub-clause (c) or (d), who opt in accordance with clause 2 of this Schedule - from such date as may be specified by the Board. 2 [ 1A . This Schedule shall apply to every stock broker who deals in commodity derivatives and every clearing member/ self-clearing member who clears and settles trades in commodity derivatives, from the date of grant of registration: Provided that for a person dealing in commodity derivatives as a commodity derivatives broker, clearing and settling trades as a commodity derivatives clearing member or self-clearing member, immediately before the transfer and vesting of rights and assets of the Forward Markets Commission with the Securities and Exchange Board of India, this Schedule shall apply, upon grant of registration by the Board, the computation of fee being with effect from the date of notification of transfer and vesting of rights and assets of the Forward Markets Commission with the Securities and Exchange Board of India.] 16 [ 1B. This schedule shall apply to every stock broker who deals in electronic gold receipt ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Explanation.- [(A)] The expression turnover shall include the value of the trades executed by the stock broker on the concerned recognized stock exchange and of the trades settled on the expiration of the contracts. [(B) In case of options contracts, turnover shall be computed on the basis of premium traded for the option contracts and in case where the option is exercised or assigned, it shall be additionally computed on the basis of notional value of option contracts exercised or assigned.] Debt 0.00002 per cent of his turnover (₹ 2 per crore) Explanation.- For the purpose of this clause, the expression turnover shall include the aggregate value of the trades executed, including both sale and purchase transactions, by the stock broker including the proprietary trading member on the debts segment of the recognized stock exchange. 50,000/- 50,000/- The fee shall not be applicable for clearing member or selfclearing member in case the said clearing member or selfclearing member is already a clearing member or selfclearing member in any other segment a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... YMENT AND RECOVERY 5. (1) Every recognized stock exchange shall collect from every stock broker in cash segment, the fee payable under clause 3 in respect of- (a) securities transactions entered into by him in that stock exchange; and (b) off-market transactions entered into by him which are reported to that stock exchange,- in accordance with the provisions of its bye-laws. Explanation.-The Board may specify the manner in which fees shall be collected from stock brokers who report the same transactions to different stock exchanges in which they are members, under clause (b). (2) Every recognized stock exchange shall collect from every stock broker in any segment other than cash segment, the fee payable under clause 3 in respect of turnover in the relevant segment of that stock exchange in accordance with the provisions of its bye-laws. 9 [(2a) Every commodity derivatives exchange shall collect from every stock broker/clearing member/self-clearing member, dealing/clearing and settling trades in commodity derivatives, the fee payable under sub-clause (1) of clause 3 in accordance with the provisions of its bye-laws.] (3) The fee collected by a recognized ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Inserted by the SEBI (Stock Brokers and Sub-brokers)(Amendment) Regulations, 2015, w.e.f. 28-09-2015. 3 Substituted for Tables 1 and 2 by the SEBI (Payment of Fees and Mode of Payment) (Amendment) Regulations, 2017, w.e.f. 01-04-2017. Prior to the substitution, Table 1 and Table 2, inserted by the SEBI (Stock Brokers and Sub-brokers) (Amendment) Regulations, 2015, w.e.f. 28-09-2015, read as follows: Table 1 FEES FOR MEMBERS DEALING IN SECURITIES, OTHER THAN COMMODITY DERIVATIVES Segment Rate / Amount (in ₹ ) Remarks Stock Broker Clearing Member Self Clearing Member Cash 0.0001 per cent of the price at which the securities are purchased or sold (₹10 per crore) * * All sale and purchase transactions in securities other than debt securities Equity Deriv ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er cent of his turnover (₹20 per crore) 50,000/- 50,000/- Explanation- The expression turnover shall include the value of the trades executed by the stock broker on the concerned recognised stock exchange and of the trades settled on the expiration of the contracts. 4 Inserted by the SEBI (Stock Brokers and Sub-brokers)(Amendment) Regulations, 2018, w.e.f. 13-06-2017 5 Inserted by the SEBI (Stock Brokers and Sub-brokers)(Amendment) Regulations, 2018, w.e.f. 13-06-2017 6 Clause 4A substituted by the SEBI (Stock Brokers and Sub-brokers) (Amendment) Regulations, 2015, w.e.f. 28-9-2015. Prior to its substitution, Clause 4A, as inserted by the SEBI (Payment of Fees) (Amendment) Regulations, 2014, w.e.f. 23-5-2014, read as under : 4A. The non-refundable fee payable along with an application for registration under sub- regulation (4) of regulation 3 or sub-regulation (4) of regulation 10A shall be a sum of fifty thousand rupees. 7 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Currency derivatives 0.00015 per cent of his turnover (₹ 15 per crore) 50,000/- 50,000/- Interest rate derivatives 0.00005 per cent of his turnover (₹ 5 per crore) 50,000/- 50,000/- Commodity derivatives 0.00015 per cent of his turnover (₹ 15 per crore) 50,000/- 50,000/- Explanation.- 4 [(A)] The expression turnover shall include the value of the trades executed by the stock broker on the concerned recognized stock exchange and of the trades settled on the expiration of the contracts. 5 [(B) In case of options contracts, turnover shall be computed on the basis of premium traded for the option contracts and in case where the option is exercised or assigned, it shall be additionally computed on the basis of notional value of option contracts exercised or assigned.] Debt ..... X X X X Extracts X X X X X X X X Extracts X X X X
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