MCX Stock Exchange (SX) will impose transaction charges in the currency futures segment from Monday, the same day rival National Stock Exchange (NSE) has proposed to start levying a cost on transactions.
Transaction charges will be in three slabs, the highest being Rs 110 on every Rs 1 crore of transaction. NSE had decided to impose up to Rs 110 on every Rs 1 crore of trade. While the difference of transaction charges between MCX SX and NSE will be marginal, USE is expected to charge a lower fee, said market players.
USE, which has a market share of 20-25 per cent, is likely to charge up to Rs 100 on every transaction of Rs 1 crore. The USE board will meet at the end of this month to take a call on fixing the charges. “After the competition commission order against NSE, there was not much levy for any of the exchanges to charge a lower transaction fee below the cost of operation,” said a top official from one of the exchanges.
