All you need to know about Sebi's order on MIIs charges on turnover fees; why they should be uniform in nature and how will it impact the stock brokers and end investors.
The rollback will be effective from April 1, 2023
Leading bourse NSE will not levy any transaction fee on the trades done in cross currency derivatives for three months starting today, in order to encourage active participation in such contracts. The exchanges -- BSE and NSE -- have launched trading in cross-currency futures and options (F&O) derivatives from today. The trading in such contracts would be available between 9:00 AM and 7:30 PM. The move will help in direct hedging of foreign currency exposures as well as improving liquidity in existing currency contracts. "In order to encourage active participation in cross currency F&O contracts, it has been decided that no transaction charges will be levied on the trades done in cross currency F&O contracts... from February 27, 2018 till May 31, 2018," NSE said in a circular issued late night yesterday. The announcement comes after NSE, last week, received markets regulator Sebi's approval for introducing cross-currency derivatives on pairs such as Euro (EUR)-US Dollar ..