Sebi hikes transaction charges on commodity exchanges

Mumbai Jan 3 (IANS) Capital market regulator Securities and Exchange Board of India (Sebi) on Wednesday hiked the ratio between highest to lowest transaction charges in "the turnover slab" levied by Commodity Derivatives Exchanges.

"The exchanges will ensure that the ratio between highest to lowest transaction charges in the turnover slab of any contract is not more than 2:1 " the regulator said in a circular adding that the new provision will be effective from 30 days of the issue.

At present the ratio between highest to lowest transaction charges in the turnover slab of any contract is not more than 1.5:1.

In September 2016 Sebi had prescribed norms for commodity derivatives exchanges while levying transaction charges for the commodity derivatives trade.

The Commodity Derivatives Exchanges levy different transaction charges for different commodities contracts and even in the case of contracts of the same commodity.

--IANS
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