Membership of CSE

                                                                                                                               June 26, 2012

 

In partial modification of the Exchange Notice dated 26th March 2012 regarding deposit requirements for trading membership of the Exchange, trading members are hereby informed that the Additional Settlement Guarantee Fund (SGF) deposit would be Rs. 5,000/- for all types of trading members.  Accordingly, the deposit structure for all trading members including those existing trading members would be as under:

 

Particulars

Membership with Minimum Guaranteed Turnover Fees (Amount in Rs.)

Membership with Stipulated Deposit

(Amount in Rs.)

Nature of the Payment / Deposit

Refundable/Non-Refundable/Interest free/with Interest/Exposure/No Exposure

Base Minimum Capital/SGF:

      BMC/SGF in Cash

      BMC/SGF (in form of Cash/FD/ Bank Guarantee.

 

 

2,50,000/-

 

7,50,000/-

 

 

2,50,000/-

 

7,50,000/-

 

 

Refundable, No Interest, No Exposure,

Refundable, in case of pledged FD interest goes to TMs. No Exposure

Application Money and Processing Fees

10,000/-

plus S.T

10,000/-

 plus S.T

Non-refundable (not applicable for existing SEBI registered CSE members)

Initial Contribution to S.G.F.

10,000/-

10,000/-

Non-refundable. No Exposure

Deposit for Settlement Guarantee Fund (SGF) for NSE Cash Segment

5,000/-

5,000/-

Refundable if not utilized, Interest Free, No Exposure

Additional Deposit for NSE Cash Segment

10,000/-

1,95,000/-

Refundable, Interest Free, Full Exposure

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

5,000/-

5,000/-

Refundable if not utilized, Interest Free, No Exposure

Additional Deposit for NSE F&O Segment

10,000/-

2,95,000/-

Refundable, Interest Free, Full Exposure

Technology Charges for NSE

See note

25,000/-

plus S.T

Non-refundable

Deposit for Settlement Guarantee Fund (SGF) for BSE Cash Segment

5,000/-

5,000/-

Refundable if not utilized, Interest Free, No Exposure

 BSE Stipulated deposit- Cash Segment

10,000/-

1,45,000/-

Refundable, Interest Free, Full Exposure

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

5,000/-

5,000/-

Refundable if not utilized, Interest Free, No Exposure

Additional Deposit for BSE F&O Segment*

10,000/-

95,000

 

Refundable, Interest Free, Full Exposure

Technology Charges For BSE

See note

25,000/-

 plus S.T

Expenses, Non Refundable.

Annual Subscription

3000/-

plus S.T

3000/-

 plus S.T

Non Refundable

Investor protection fund  pa

500/-

500/-

Non Refundable

 

Note:

 

A.     Conditions for New Membership with Minimum Guaranteed Turnover Fees

 

        All the members in this scheme will require to open their beneficiary account in CSE DP (CDSL/NSDL). 

        Technology fee will be Rs.25000/- plus tax for BSE connectivity and Rs 25000/- plus tax for NSE connectivity adjustable against their TOC (excluding BSE/NSE/SEBI/taxes) within 6(Six) months from the date of activation.

        In case their Turn over fee up to first 6 months is 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.50,000/-(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.

B

        Conditions for Membership with Stipulated Deposit without Guaranteed Turnover Fees

        All the members in this scheme will require to open 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.25,000/- for each segment within 30th September, 2012 with their Turnover Fee (excluding NSE/BSE, SEBI &Taxes). 

 

The above schemes will also be applicable to the existing members.

 

The Exchange authority decided that New Membership will be offered only with one scheme i.e. Membership with minimum guaranteed turnover fees.

 

The existing member without minimum guaranteed turnover fees will be allowed to convert to the Membership with minimum guaranteed turnover fee scheme up to 31th December 2012 .The difference in amount toward CSE stipulated and other deposits including additional deposit towards SGF would be refunded to those members who will opt for conversion within above date.

 

 

 

B.Madav Reddy

MD & CEO