Offers minimum rebate of 10% up to Rs 25 crore turnover
The National Stock Exchange (NSE) has announced rebate on transaction charges for its members on trades done in the futures contracts on NSE's volatility index viz. India VIX. Future trading on India VIX begins tomorrow, 26 February 2014. The discount on transaction charges is being offered so as to encourage active participation in India VIX, NSE said in a circular issued on Monday, 24 February 2014.
For a daily turnover of up to Rs 25 crore, a trader will be entitled to 10% reduction in the transaction charges, NSE said. For a daily turnover of more than Rs 25 crore and not exceeding Rs 100 crore, the trader will be entitled to 25% reduction in the transaction charges on the incremental volume. For a daily turnover exceeding Rs 100 crore, the trader will be entitled for 40% reduction in the transaction charges on the incremental volume.
This rebate structure will be available till 31 March 2014, NSE said. Based on the performance of the contract, NSE will review the rebate structure, NSE said.
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