BSE to appeal Sebi on option fee reversal

However, portion the process is ongoing, the speech has allocated ₹170 crore arsenic a proviso for the fee, until the capital marketplace regulator decides connected its appeal, Sundararaman Ramamurthy told shareholders during the Q4 post-result league telephone connected Wednesday.

“...we volition beryllium requesting and representing, and submitting and appealing to the regulator to reconsider this decision, and are precise hopeful that we volition beryllium heard by the regulator. And, if it happens it volition beryllium truly good."

Until now, the BSE has been paying the interest based connected the premium turnover of options. Premium turnover refers to the enactment terms multiplied by batch size. Notional turnover, connected the different hand, includes the onslaught terms multiplied by batch size, positive the enactment price. Sebi has levied the differential interest for the past 18 years.

Other charges

The different large resistance connected the profits of the speech is the clearing complaint paid to the NCL, NSE Clearing Corporation, for clearing and settling trades executed connected the BSE, Ramamurthy said. 

According to the exchange, retired of the ₹ 85 crore clearing and colony charges connected equity options paid by BSE successful FY24 , ₹63-64 crore went to NCL. "We are besides appealing that this should beryllium reduced."

However, earlier, NSE's managing manager and main executive, Ashishkumar Chauhan, had said that the clearing corp (NCL) charges NSE and BSE the aforesaid interest for clearing and colony of trades connected either exchange.

The equity scale options—Sensex options—have seen tremendous maturation since May 2023, erstwhile they were revamped and reintroduced for Friday expiry.

In FY24, notional turnover of equity derivatives connected the BSE grew to ₹8,029 trillion from ₹343.15 trillion a twelvemonth ago. The comparitive figures connected the NSE were ₹79,928 trillion and ₹38,223 trillion for the play nether consideration.

The BSE besides launched Bankex options past October, which expires each Monday, too monthly azygous banal futures contracts. which volition expire connected the 2nd Thursday of a month, effectual 1 July 2024.

Also Read | Mint Explainer: Sebi's notional turnover interest directive – ripples and remedies

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Published: 09 May 2024, 10:16 PM IST