Minimum Brokerage removed .

Redbulls · 26 Re: Minimum Brokerage removed . Tue Apr 10, 2012 8:20 pm

Redbulls

Director - Equity Analytics

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Join date : 2012-02-14

Finally SEC realised.
Good move.

123longway · 27 Re: Minimum Brokerage removed . Tue Apr 10, 2012 11:18 pm

123longway

Senior Equity Analytic

Posts : 59
Join date : 2011-07-11

I think this is a very positve move, though a small one, yet much more changes are necessary. I fully endorse the suggestions made by Mr.K.Haputhanthri, I believe those suggestions are very vital for a more attractive trading floor for us here and for foreigners. This indeed is a confidence building process.
Congratulations to the Authorities. We are ready to appreciate something good.

HAPPY NEW YEAR TO THE sec AND THE cds

sriranga · 28 Floor fee off trading at Bourse Wed Apr 11, 2012 1:17 am

sriranga

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The Colombo Stock Exchange (CSE) yesterday announced that its Board and the Securities and Exchange Commission (SEC) have approved the removal of the minimum brokerage fee of Rs.10.00 and the minimum CDS fee of Rs.5.00 levied on transactions.

The move is consequent to implementation of ATS Version 7, wherein the board lot size has been changed to one share.

Accordingly, the 0.64 per cent brokerage fee and the CDS fee of 0.02 per cent will be applicable for all transactions up to Rs.50 million, with effect from 10 April 2012.

CSE also announced that the fee of Rs.25.00 charged from custodian banks in respect of custodian trades, has been done away with effect from 19 March 2012.

The move drew mixed reactions from brokers and analysts. Some welcomed it saying trading of securities could now reach even the very ordinary if they wish to whilst others warned of the negativities of the same feature with peoples of different expectations entering the Bourse.
Whilst the waiver of minimum fees appears to address a specific anomaly of the ATS Version 7, some warned it could lead to fresh problems of macro nature to the Bourse. “This is equal to a macro move to a micro issue,” one analyst opined. Despite the new measures, overall cost for brokers with the removal of the odd lots system remains at large.
http://www.ft.lk/2012/04/11/floor-fee-off-trading-at-bourse/

Roboticfx · 29 Re: Minimum Brokerage removed . Wed Apr 11, 2012 8:08 am

Roboticfx

Senior Vice President - Equity Analytics

Posts : 1858
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slstock wrote:

sanjayagps wrote:Wouldn't it have been much better to enforce minimum fill quantities?

If one side of the coin does not look good then one can flip and say I like it now. But it is the same coin we have to deal with. So we find options.

Simply that means, same thing happen through both options.

aj · 30 Re: Minimum Brokerage removed . Wed Apr 11, 2012 8:23 am

aj

Assistant Vice President - Equity Analytics

Posts : 766
Join date : 2011-11-25

I think what should happen is that those penny stocks should be consolidated. Buying "1 stock" should be the same as buying 100 Sri Lankan stocks. Buying "1 stock" should be made a considerable, significant deal. That is share prices should be consolidated to make it a considerable deal.

reez · 31 Re: Minimum Brokerage removed . Wed Apr 11, 2012 11:28 am

reez

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i sold 1 share for test .
but still they charge minimum fees of 15 lkr.
so wt happening here
after approval of circular eff.date 10 april 2012
plse xplain me frnds

Slstock · 32 Re: Minimum Brokerage removed . Wed Apr 11, 2012 11:31 am

Slstock

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reez wrote:i sold 1 share for test .
but still they charge minimum fees of 15 lkr.
so wt happening here
after approval of circular eff.date 10 april 2012
plse xplain me frnds

It might get corrected next in your bought sold notes.