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NATIONAL CLEARING COMPANY OF PAKISTAN LIMITED

AMENDMENT IN FEE, CHARGES AND SECURITY DEPOSIT SCHEDULE

NOTIFICATION
Karachi the 8 day of February 2010
In exercise of the powers conferred by Regulation No. 3.6 of NCC Regulations, the National Clearing Company of Pakistan Limited, has made with the prior approval of the Securities and Exchange Commission of Pakistan, the following amendments(s) in Fee, Charges and Security Deposits Schedule which shall come into force on approval by the Commission.

The following changes in Trade Fee shall be made in the Fee, Charges and Security Deposit Schedule, Accordingly, the amendments shall be Incorporated in the Fee, Charges and Security Deposit Schedule.
SCHEDULE OF FEE
S. No. NAME RATE BASIS LEVIED ON COLLECTION
          TIME MODE
1. Trade Fee Re. 0.81 Per Rs. 100,000 value of regular trade Clearing Member Month end Through NCSS Pay & Collect
1a. Trade Fee – Odd Lot Market Rs. 2.00 Per odd lot trade Clearing Member Month end Through NCSS Pay & Collect
1.b *Trade Fee (Please refer Note C) Rs. 1.00 Per Rs. 100,000 value of debt market trades Clearing Member Month end Through NCSS Pay & Collect
2. Trade Fee – SECP Re. 0.30 Per Rs. 100,000 value of regular trade Clearing Member Month end Through NCSS Pay & Collect
3. Exchange Transaction Fee for CFS Re.0.10 Per Rs. 100,000 value of CFS Clearing Member Month end Through NCSS Pay & Collect
4. Exchange Transaction Fee for CFSR Re.0.10 Per Rs. 100,000 value of CFSR Clearing Member Month end Through NCSS Pay & Collect
5. Non-Exchange Transaction fee for BTB Rs.1.50 Per Rs. 100,000 value of Non-Exchange Transaction Clearing Member Month end Through NCSS Pay & Collect
6. Non-Exchange Transaction fee for IDS Rs.1.50 Per Rs. 100,000 value of Non-Exchange Transaction Clearing Member Month end Through NCSS Pay & Collect
6b. Non-Exchange Transaction fee for RMS on IDS Rs. 1.00* Per Rs. 100,000 value of Non- Exchange Transaction Clearing Member Month end Through NCSS Pay & Collect
7 UIN Maintenance Fee Rs. 100 Per UIN Record --- Client Code Wise Clearing Member Annually Through NCSS Pay & Collect
8 Non- Deliverable Future Contract Rs. 0.81 Per Rs. 100,000 value of Non- Deliverable Futures Contract Clearing Member Month End Through NCSS Pay & Collect
9 Deliverable Future Contract/provisionally listed companies market Rs. 0.81 Per Rs. 100,000 value of Deliverable Futures Contract/provisionally listed companies market Clearing Member Month End Through NCSS Pay & Collect
10 Transaction fee for CFS MK-II (Please refer Note B) Rs. 1.50 Per Rs. 100,000 value of CFS MK-II Transaction  multiplied by No. days of CFS MK-II Contract Authorized Financier and Financee Month end Through NCSS Pay & Collect
11 Contribution for CFS MK-II Protection Fund Rs. 1.50 Per Rs. 100,000 value of CFS MK-II Transaction  multiplied by No. days of CFS MK-II Contract Authorized Financier Month end Through NCSS Pay & Collect
12 *CFS MK-II Annual Fee (Please refer Note B) Rs. 1,000,000 Annual Fee for CFS MK-II Non-Broker Authorized Financier Annually Through NCSS Pay & Collect
13 SECP Levy Rs. 0.19 Per Rs. 100,000 value of CFS MK-II Transaction  multiplied by No. of days of CFS MK-II Contract Authorized Financier and Financee Month end Through NCSS Pay & Collect
14 *Fixed Fee for IDS Facility Rs. 15,000 Monthly tariff on IDS facility for all NBCMs Non-Broker Clearing Members Month end Through NCSS Pay & Collect
 
SCHEDULE OF CHARGES
S.No. NAME RATE BASIS LEVIED ON COLLECTION
          TIME MODE
1. Delivery Default Charges – First Default Re. 0.50% Delivery default value of each scrip, minimum Rs. 2,000 Clearing Member Month end Through NCSS Pay & Collect
1.b Delivery Default Charges (debt Securities) – First Default Re.1.00% Delivery default value of each scrip, minimum Rs.10,000 Clearing Member Month end Through NCSS Pay & Collect
2. Squared-up Delivery Default Charges Re. 1.00% Delivery default value of each scrip, minimum Rs. 4,000 Clearing Member Month end Through NCSS Pay & Collect
2.b Squared-up Delivery Default Charges (debt Securities) Re.2.00% Delivery default value of each scrip, minimum Rs.20,000 Clearing Member Month end Through NCSS Pay & Collect
3. Delayed Payment Charges Re. 0.50% Delayed Payment amount, minimum  of Rs. 2,500 and maximum of
Rs. 200,000 		Clearing Member Month end Through NCSS Pay & Collect
4 *Penalty for Under- Utilization of Committed Fund in CFS MK-II (Please refer Note B) Re.2% 2% per annum on average shortfall from the full commitment during the previous month Authorized Financier Month end Through NCSS Pay & Collect
 
SCHEDULE OF SECURITY DEPOSIT
S. No. NAME RATE BASIS COLLECTION
        TIME MODE
1. Security Deposit from Broker CM Rs.200,000 One time fixed, per Exchange membership On signing of agreement P. O. /Draft/Cheque
2. Security Deposit from Broker CM Rs.100,000 One time fixed for BTB / MF facility On receiving request letter P. O. /Draft/Cheque
3 Security Deposit from Broker CFS Financier CM Rs.200,000 One time fixed On signing of agreement P. O. /Draft/Cheque
4 Security Deposit from Non-Broker CFS Financier CM / Non-broker Authorized Financier Rs.1,000,000 One time fixed On signing of agreement P. O. /Draft/Cheque
5 Security Deposit from Non-broker CM for allowing IDS functionality on Regular Market Trades Rs. 2,500,000 One time fixed On signing of agreement P.O. /Draft/Cheque
5a * Security Deposit from Non-broker CM for allowing IDS functionality on debt market trades Rs. 250,000 One time fixed On signing of agreement P.O. /Draft/Cheque
5b *Security Deposit from Broker CM for debt market trades Rs. 100,000 One time fixed On signing of agreement P.O. /Draft/Cheque
 
Note A
  • CFS= Continuous Funding System Transaction.
  • CFSR=Continuous Funding System Release transaction.
  • BTB= Broker to Broker Delivery System.
  • IDS = Institutional Delivery System.
  • Broker CM= Who is a member of Stock Exchange.
  • Non-Broker CM= Who is not a member of Stock Exchange.
  • RMS = Risk Management System
 
Note B
  • One half of the annual fee shall (as defined in S. No 12) be transferred to CFS MK-II Protection Fund in term of these Regulations.
  • One half of the transaction fee for CFS MK-II transaction fee (as defined in S. No 10) shall be transferred to CFS MK-II Protection Fund in term of these Regulations.
  • Full amount of Penalty for Under-Utilization of Committed Fund in CFS MK-II (as defined in S. No 4 of Schedule of Charges) shall be transferred to CFS MK-II Protection Fund in term of these Regulations.
 
Note C
One fourth of the fee collected from Debt Market Clearing Members (as defined in S. No 1.b) shall be transferred to Debt Market Protection Fund in term of these Regulations.
 
Note
  • One half of Non Exchange Transaction Fee for RMS on IDS (as defined in S. No 6b) shall be transferred to NCC Clearing and Settlement Fund.
  • 30% of monthly fee on IDS (as defined in S. No 14) shall be transferred to NCC Clearing and Settlement Fund.
  • 20% of monthly fee on IDS (as defined in S. No 14) shall be charged as SECP Levy.
 
 
 
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