NSE launches concession scheme in transaction fee currency F&O

The National Stock Exchange of India Limited (NSE) has started a concession scheme called NSE MORE in the transaction charges for 'far month' contracts in the currency derivative segment.

Far month contracts refer to third month and beyond expiry contract. The scheme would be effective for currency futures and currency options contracts from July 1 to September 30, 2016.

Under the scheme, the exchange would levy a transaction fee of Rs 9 per crore of turnover of currency futures. It would charge Rs 100 per crore of premium turnover of currency options.

"On the expiry day of the near month contract, the third month contract will be excluded from the concession scheme," NSE said.

"Based on the review and the market feedback, it has been decided to introduce a concession scheme in the transaction charges for far month contracts in currency futures and currency options for the period of three months effective from July 1 to September 30, 2016," NSE said in a notice.

Besides, the bourse said 'NSE MORE' scheme will not be applicable for far month contracts during the July-September period, this year.

Under NSE MORE, trading members are rewarded for maintaining high degree of governance standards on a continuous basis as they contribute to the overall integrity, growth and development of the markets.