Indian brokerages fall as markets regulator asks exchanges to levy uniform charges

5Paisa Capital

02/07/2024 09:11

(Updates)
    ** Shares of Indian brokerage firms down 1.5%-9%    
    ** India markets regulator on Monday asked market
infrastructure institutions to levy a uniform charge from Oct. 1
without any discounts based on trading vols to curb frenzy in
India's derivative markets 
    ** Exchanges often charge lower fee to brokers if they
generate high volumes, contributing to surge in trading across
segments like derivatives
    ** "A 100% pass-through of exchange transaction charges
threatens to destabilise the discount brokerage business model,"
said Tejas Khoday, cofounder and CEO of FYERS, a discount
broking firm
    ** Angel One  ANGO.NS  down nearly 9%, 5Paisa Capital
 PAIS.NS  falls 1.5%, SMC Global Securities  SMCG.NS  sheds 3.5%
and Geojit Financial  GEOJ.NS  down 6.5%
    ** Exchange operator BSE Ltd  BSEL.NS  was down 3.3%  
    

 (Reporting by Sethuraman NR and Nishit Navin in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))