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| Discuss Transaction charges - fraud at the Investors Grieviences within the Traderji.com - Discussion forum for Stocks Commodities & Forex; Hi all of you, I am now posting a circular released by NSE. NATIONAL STOCK ... |
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#1
3rd April 2008, 10:53 PM
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Transaction charges - fraud
Hi all of you,
I am now posting a circular released by NSE. NATIONAL STOCK EXCHANGE OF INDIA LIMITED FINANCE & ACCOUNTS DEPARTMENT CIRCULAR To all Trading Members in Capital Market Segment Circular No: NSE/F&A/6665 Date: September 20, 2005 Sub: Reduction in Transaction charges payable in respect of Capital Market Segment Trading members are aware that the transaction charges were being levied @ Rs 10.00 per lakh (0.01%) of the transaction value (each side) in the Capital Market Segment in the beginning by the Exchange. The same has been periodically reviewed and reduced over a period of time. At present, the Exchange levies transaction charges @ Rs 4.00 per lakh (0.004%) of the transaction value on each side. The charges have been since reviewed once again and it has been decided to reduce the same further to Rs. 3.50 per lakh (0.0035%) of the transaction value (each side). In view of the above, it is hereby notified to all trading members in the Capital Market Segment that with effect from 1st October 2005,the transaction charges on all trades done in Capital market segment will be levied @ Rs 3.50 per lakh (0.0035%) of the transaction value(each side). We hope that the Trading members will pass on the benefit to their constituents. For National Stock Exchange of India Limited J. Ravichandran Director (F&L) All brokers do not adhere to the norms. They charge more than 0.02 % on turn over. It is against Law. The client- brokers agreement must invariably contain transaction charges are as specified by NSE. Please note that this applicable only for Equities and not for options & futures. My broker swallowed more than Rs.20000/- on account of transaction charges. I have served a notice on him taht I am taking up with Arbitration authorities as per LaW. He is unable to reply. All traders are requested to verify their trade bills regarding transaction charges and if found excessive send a notice ro thier brokers by REGD post Ack Due. Calculate the loss. It is a financial fraud. Send email to SEBI and NSE to invesitigate. The TEXT of email must be: Brokers charge more than the stipulated transaction charges. Please investigate Your name: Your Broker name Your Client ID As I am legal person, in case you want assistance, I will be glad to do it. Regards Vazu 
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#2
4th April 2008, 09:44 AM
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Re: Transaction charges - fraud
It shall not be out of place to mention that NSE had waived the Transaction charges on Mini Nifty contracts from 1st Jan to 31st March 2008. May have been extended further.
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