Date: 26th MARCH 2012

N O T I C E

 

Membership of CSE

 

The Exchange has introduced two membership schemes:

1. New Member with minimum guaranteed turnover fees. 2. Member with stipulated deposit.

 

Terms and conditions for deposit based membership:

The Trading Member has only trading rights and no ownership rights of CSE.

1.       The applications should be complete in the prescribed formats and in all respects.

2.       The specimen of the application form as well as the other material including the terms and conditions and salient features of the Trading Membership are available with the Membership Department / Reception of CSE at 7, Lyons Range, Kolkata – 700 001

3.       The application form in the prescribed format, complete in all respects should be accompanied by an A/c Payee’s Demand Draft/Pay Order for Rs11, 236. /-(Rupees Eleven Thousand Two Hundred and Thirty Six Only) drawn in favour of “The Calcutta Stock Exchange Limited". The amount will be utilised as Membership Processing Charge and is not Refundable.

4.       Applications can be made by individuals and corporate who are eligible to become a Trading Member of CSE in accordance with the Rules, Bye-Laws & Regulations of CSE and subject to such terms and conditions as may be decided by CSE from time to time.

5.       The successful applicants selected by CSE shall be required to pay the amount of the deposit as detailed below within one month from the date of receipt of the letter of acceptance of offer by the person / corporate for Trading Membership of CSE. In case of failure of payment within the scheduled time, the application would stand cancelled automatically.

 

The details of the two Schemes on being offered are given below

 

Terms of Membership revised with effect from 26th March 2012

 

The charges to be levied for the proposed CSE-NSE /CSE-BSE trade were finalized as under:

 

1. New Member with Minimum Guaranteed Turnover Fees.

Deposit Based Member /New Member with minimum Guaranteed Turnover fees have to pay the following deposits:

Particulars

Amount (Rs)

Refundable/Non Refundable/ Interest Free/with Interest/Exposure

Within one month of letter of acceptance of CSE, following amounts are Payable

 

Base Minimum Capital

·         Settlement Guarantee Fund (SGF)

·         Base Minimum Capital

* This can also be paid in form of bank guarantee.

 

2,50,000/-

 

 

7,50,000/-

Refundable, No Interest, No Exposure

 

 

Refundable, with Interest, No Exposure

Application Money and Processing Fees

,10,000/- plus S.T

Expense  (At the time of application ,not applicable for SEBI registered member)

Admission to S G F

10,000/-

Non Refundable, Interest Free, No Exposure

Settlement Guarantee Fund (SGF) for NSE Cash Segment

5,000/-

Refundable, Interest Free, No Exposure

Additional Deposit for NSE Cash Segment

10,000/-

Refundable, Interest Free, Full Exposure

Settlement Guarantee Fund (SGF) for NSE F&O Segment*

5,000/-

Refundable, Interest Free, No Exposure

Additional Deposit for NSE F&O Segment

10,000/-

Refundable, Interest Free, Full Exposure

Technology Charges for NSE

See note

Expenses, Non Refundable

 BSE Stipulated deposit- Cash Segment

10,000/-

Refundable, Interest Free, Full Exposure

Additional Deposit for BSE F&O Segment*

10,000/-

Refundable, Interest Free, Full Exposure

Technology Charges For BSE

See note

Expenses, Non Refundable.

Annual Subscription

3000/- plus S.T

Non Refundable

Investor protection fund  pa

500/-

Non Refundable

 *as and when F&O Start

 

Note:

 

All the members in this scheme will require opening their beneficiary account in CSE DP (CDSL/NSDL).   New members are allowed to adjust Technology fees against turnover fees Excluding fees for BSE/NSE/SEBI/taxes) within 6(Six) month from the date of activation, in case their Turn over fee up to 6 months are less than Rs.25, 000/- inclusive of Service Tax then the balance short fall amount will be debited to their account immediately after 6 month   

Minimum Guaranteed Turnover fees per annum under this membership Scheme is Rs.50000/-(excluding fees for BSE/NSE/SEBI/Taxes) and this amount will be collected settlement wise if there is any shortfall in that year , it will be debited at the end of every financial year.

2. Member with Stipulated Deposit without Guaranteed Turnover

 Deposit Based Member /New Member have to pay the following deposits:

Particulars

Amount (Rs)

Refundable/Non Refundable/ Interest Free/with Interest/Exposure

Application Money and Processing Fees

10,000/- plus S.T

Expense  (At the time of application ,not applicable for SEBI registered member)

After Receiving SEBI Registration the following amounts are Payable

Base Minimum Capital

·         Settlement Guarantee Fund (SGF)

·         Base Minimum Capital

* This can also be paid in form of bank guarantee.

2,50,000/-

7,50,000/-

Refundable, No Interest, No Exposure

Refundable, with Interest, No Exposure

Admission to S G F

10,000/-

Non Refundable, Interest Free, No Exposure

Settlement Guarantee Fund (SGF) for NSE Cash Segment

50,000/-

Refundable, Interest Free, No Exposure

Additional Deposit for NSE Cash Segment

150000/-

Refundable, Interest Free, Full Exposure

Settlement Guarantee Fund (SGF) for NSE F&O Segment

100000/-

Refundable, Interest Free, No Exposure

Additional Deposit for NSE F&O Segment

200000/-

Refundable, Interest Free, Full Exposure

Technology Charges for NSE

25,000/- plus S.T

Expenses, Non Refundable

 BSE Stipulated deposit-Cash Segment

150,000/-

Refundable, Interest Free, Full Exposure

Additional Deposit for BSE F&O Segment

100,000

 

Refundable, Interest Free, Full Exposure

Investor protection fund  pa

500/-

Non Refundable

Technology Charges For BSE

25,000/- plus S.T

Expenses, Non Refundable.

Annual Subscription

3000/- plus S.T

Non Refundable

 

Note:

All the members in this scheme will require opening their beneficiary account in CSE DP (CDSL/NSDL). New members are allowed to adjust Technology fees against their turnover fees(Excluding fees for BSE/NSE/SEBI/taxes) within 6(Six) month from the date of activation.

Existing members are allowed to adjust Technology fee of Rs.25000/- for each segment within 30th September, 2012 with their Turnover Fee (excluding NSE/BSE, SEBI &Taxes). 
Minimum guaranteed turnover fees per annum are not applicable for this type of membership at present.

Transaction Charges for ALL with effect from 2nd. May 2012 till further notice.

Transaction charges

 

The turn over fee is inclusive of NSE/BSE turn over fees.

Cash Segment of NSE/ BSE

Settlement wise Turnover

Turnover fee inclusive of BSE/NSE Turnover Fees

For Cash Segment

 

Up to 7 Crores turn over

Rs.650/-per crore turnover(+taxes+SEBI Fee)

Beyond 7 Crores to 15 Crores

Rs.4550+@Rs.550/-per crore(+taxes+SEBI Fee) on turnover over and above Rs.7 cr.

Beyond 15 Crores

Rs.8950/- + @Rs.450/-per crore(+taxes+SEBI Fee) on turnover over and above Rs.15 cr.

 For F&O segment:

 

Up to 10 Crores turn over

Rs.390/-per crore turnover(+taxes+SEBI Fee)

Beyond 10 Crores to 25 Crores

Rs.3900+Rs.290/-per crore (+taxes+SEBI Fee)on turnover over and above Rs.10 crores

Beyond 25 Crores to 100 crores

Rs. 8250/-+Rs.275/-per crore(+taxes+SEBI Fee) on turnover over and above Rs.10 crores

Beyond 100 Crores (on incremental volume)

Rs.28,875+@Rs.225 per crore on Turnover over above Rs.100 crores

In case of Put/Call option

0.065% on Premium (+taxes+SEBI Fee)

Out of the above turnover fee collected from trading members in BSE/NSE segment Rs. 10/- per cr. Would be transferred to Settlement Guarantee Fund and Rs. 10- would be transferred to Investor Protection Fund created for NSE trading purpose However this transferred to SGF & IPF for NSE trading is limited to 25% of the Turnover fee excluding BSE/NSE fees.

For any further information/clarification, interested applicants are requested to contact the following officials in CSE:

 

Ms. Sripriya Senthilikumar

9836900227

Mr. Dhiraj Chakraborty

9830040901

Mr. Sumit Sengupta

9836900215

Mr. Anupam Roy Bardhan

8017360270

Mr. Amar Ch. Sadhukhan

9748937505

Mr. Tilak Bakshi

9836112625

 

Also the details of the documents required to be submitted by various categories of members are available in our site www.cse-india.com.

 

The completed application needs to be sent in a sealed envelope marked "Application for Deposit Based Membership" and addressed to the Managing Director & CEO, The Calcutta Stock Exchange Limited, 7, Lyons Range, Kolkata - 700 001.

 

 

 

B.Madhav Reddy

MD & CEO