2109

regulations & governance

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

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

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%

Debt Securities - 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

Government of Mauritius Securities and Bank of Mauritius Securities

Value of Transaction Investment Dealer (Rs) Securities Exchange (Rs) CDS (Rs) Commission (Rs) Total Brokerage Fee (Rs)
Not exceeding 1 million 65 16 16 3 100
More than 1 million but not exceeding 5 million 323 80 80 17 500
More than 5 million but not exceeding 10 million 646 160 160 34 1000
More than 10 million but not exceeding 15 million 969 240 240 51 1500
More than 15 million but not exceeding 20 million 1292 320 320 68 2000
More than 20 million 1615 400 400 85 2500

Exchange Traded Funds (ETFs)

For transactions where the foreign underlying of the Exchange Traded Fund is a security other than a debt security

Investment Dealer (%) SEM (%) FSC (%) CDS (%) Total fee claimed for apportionment (%)

0.21

0.07

0.014

0.056

0.35

For transaction value on Exchange Traded Funds with debt securities as foreign underlyings which exceeds or equals to Rs75,000

Investment Dealer Securities Exchange The Commission 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 on Exchange Traded Funds with debt securities as foreign underlyings which is less than Rs75,000

Investment Dealer Securities Exchange The Commission CDS Total brokerage fee claimed for apportionment

Rs 55

Rs 9

Rs 2

Rs 9

Rs 75

Turnaround Trades - 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%

Turnaround Trades - 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

Schedule of fees for trades effected by the Market Maker

A. For trades executed by the Marker Maker that fall under the definition of “turnaround trades”, the following schedule of transaction fees for turnaround trades shall apply:

“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. Below is the detailed fee structure applicable to turnaround trades:

1. For transaction value on turnaround trades equal to or exceeding 50,000 rupees:

Investment Dealer SEM FSC CDS Total brokerage fee claimed for apportionment

0.10%

0.025%

0.01%

0.02%

0.15%

2. For transaction value on turnaround trades below 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

B. For transactions executed by the market maker which do not fall under the definition of “turnaround trades”, the following schedule of transaction fees shall apply:

Value of Transaction (Rs) SEM (%) FSC (%) CDS (%) Total fee (%)

Not exceeding 3 million

0.125

0.05

0.100

0.275

More than 3 million but not exceeding 6 million

0.125

0.05

0.075

0.250

More than 6 million but not exceeding 10 million

0.125

0.05

0.075

0.250

More than 10 million

0.125

0.05

0.050

0.225