id-about-sem pic

Brokerage Fees

 
 

Official Market and DEM

 

The brokerage fee claimed by an investment dealer (stockbroking company) to its client is set below. The brokerage fee claimed is apportioned among the stockbroking company, the Stock Exchange of Mauritius Ltd (SEM), the Financial Services Commission (FSC) and the Central Depository & Settlement Co. Ltd. (CDS).

 

Equity Securities

 

Value of Transaction

(Rs)

Investment Dealer

(%)

SEM (%)

FSC (%)

CDS (%)

Total fee claimed for apportionment (%)

Not exceeding 3 million


0.75

0.25

0.05

0.20

1.25

More than 3 million but not exceeding 6 million

0.70

0.25

0.05

0.15

1.15

More than 6 million but not exceeding 10 million

0.60

0.25

0.05

0.15

1.05

More than 10 million

0.50

0.25

0.05

0.10

0.90

 

Debt Securities

 

The following new brokerage fee structure is applicable to transactions relating to bonds or debentures as from 01 January 2014.

 

For transaction value which exceeds or equals to 75,000 rupees

 

Investment Dealer

 

SEM

 

FSC

 

CDS

 

Total brokerage fee claimed for apportionment

% of transaction value % of transaction value % of transaction value % of transaction value % of transaction value

0.0725%

0.0125%

0.0025%

0.0125%

0.10%

 

For transaction value which does not exceed 75,000 rupees

 

Investment Dealer

SEM

FSC

CDS

Total brokerage fee claimed for apportionment

Rs 55

Rs 9

Rs 2

Rs 9

Rs 75

 

Exchange Traded Funds (ETFs)

 

The following brokerage fee is applicable to transactions relating to Exchange Traded Funds (ETFs).

 

Investment Dealer

(%)

SEM (%)

(%)

FSC

(%)

CDS

(%)

Total fee claimed for apportionment

(%)

0.21

0.07

0.014

0.056

0.35

 

Turnaround Trades

 

The new schedule of reduced brokerage fee for turnaround trades, effective from 12 December 2013, is as follows:

 

For transaction value on turnaround trades which exceeds or equals to 50,000 rupees

 

Investment Dealer

 

SEM

 

FSC

 

CDS

 

Total brokerage fee claimed for apportionment

 

% of transaction value % of transaction value % of transaction value % of transaction value % of transaction value

0.10%

0.025%

0.005%

0.02%

0.15%

 

For transaction value on turnaround trades which does not exceed 50,000 rupees

 

Investment Dealer

SEM

FSC

CDS

Total brokerage fee claimed for apportionment

Rs 50

Rs 12.50

Rs 2.50

Rs 10

Rs 75

 

A turnaround trade involves:

(i) the selling of a security that has been purchased earlier during the same settlement cycle (i.e within 2 days of the initial purchase) to take advantage of an upward movement in the price of the underlying security, or

(ii) the purchase of a security that has been sold earlier during the same settlement cycle (i.e within 2 days of the initial sale) to take advantage of a downward movement in the price of the underlying security, assuming that the investor holds the security in his/her securities account prior to the initial sale.

 

The definition of ‘’turnaround trades’’ as per the Securities (Brokerage Fees for Turnaround Trades) Rules 2013 is as follows:

 

‘’Turnaround Trades’’ means a pair of opposite trades executed by an investor on the same security for the same quantity or less before the settlement date of the first trade executed in the pair of opposite trades and through the same investment dealer.