Fees & Charges - ccil
Services
Fees & Transaction Charges
Applicants are required to submit a one time membership fee along with the Membership Application Form of the respective business segment, as prescribed.
A. The one- time membership fees for various business segments:
| Business Segment | One-time Membership Fees |
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| Securities / Rupee Derivatives Guaranteed Settlement* | Rs. 1 lakh plus GST |
| Forex Settlement | Rs. 1 lakh plus GST |
| Forex Forward | Nil |
| Derivatives reporting platform | Nil |
| Triparty Repo under Securities Segment | |
| CCIL- Members & Associate Members | Rs.25,000/- plus GST |
| Clearcorp- Members & Associate Members | Rs.25,000/- plus GST |
B. Monthly Transaction charges:
Membership department provides standard transaction charges bills to the members of various business segments of CCIL at the start of the month for the previous billing month. The members are required to submit the standard transaction charges pertaining to their transactions in the billing month on or before 10th day of next month (or the immediately next business day if 10th is a holiday).
Existing members may contact the Membership Department at (022) 6154 6551/52/53/54/55 for any queries relating to their standard transaction charges bills for various business segments.
For currently applicable monthly standard transaction charges of CCIL and other fees and charges.
We invite your attention to Chapter XIV- ‘Fees & Charges’ of Securities Segment Regulations. In terms of Para A - 4 of the above chapter, the revised schedule of fees & charges effective from 01st October 2019 is given below.
| A | Settlement of Outright Trades | |
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| Particular | Transaction Charges | |
| 1 | OUTRIGHT TRADES Dated Securities & Treasury Bills (Payable by each counter party) |
Rs.95/- per crore of Face Value for Dated Securities Rs. 45/ per crore of Face Value for Treasury Bills Minimum Rs.20/- Maximum Rs. 4750/- per Trade for outright trades in Dated securities and Treasury Bills. |
| 2 | STRIPS Securities (Payable by each counter party) |
Rs.45/- per crore are payable on Settlement Consideration Minimum Rs. 45/- Maximum Rs. 2250/- per Trade for outright trades in STRIPS |
Outright trades by individuals (including HUF) up to and including FV Rs. 1 crore, received for settlement will be exempted from settlement charges. The counterparty to those trades would also be exempted from Settlement charges.
| B | Settlement of Repo Trades | |
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| Particular | Transaction Charges | |
| 1 | Overnight& Term Repo Trades (Includes Dated Securities, T-Bills & STRIPS) (Payable by each counter party) | Rs 12.50 per crore of face value for each leg of a repo trade. The above charges are subject to Minimum of Rs. 12.50/- and Maximum of Rs. 1250/- for each leg of repo trade. |
| 2 | Overnight &Term Tri-Party Repo Trades (Includes Dated Securities, T-Bills & STRIPS) (Payable by each counter party) |
Rs. 10 per crore of repayment value of tri-party repo trade. The above charges are subject to Minimum of Rs. 10/- and Maximum of Rs. 1000/- for each tri-party repo trade. |
| C | Penalty for Margin Shortfall | |
| 1 | Penalty for Margin Shortfall. (based on number of instances in a calendar quarter) (Intraday margin shortfall will be treated as a shortfall for one day.) | a) 5 basis point per Rs. 100 per instance(each single day of shortfall till replenishment is counted as an instance) on the amount of shortfall for first three instances(in a calendar quarter). b) 10 basis points per Rs.100 per instanceon the amount of shortfall from fourth instance to 13th instance(in a calendar quarter). c) 20 basis points per Rs.100 per instance on the amount of shortfall from fourteenth instance onwards(in a calendar quarter). Minimum charges would be Rs. 100/- per instance. |
| D | Payment to be made by the member-in-shortage when settlement shortage is handled by CCIL | |
| 1 | For Securities / Funds shortage | a) 5 basis point per Rs. 100 per day, on the amount of shortage till the replenishment of the security (Minimum charges would be Rs. 100/-). and b) Charges incidental to meet such security/ Funds shortage like Securities Line of Credit (SLOC) charges for securities shortage and LOC charges for funds shortage as provided in Securities Segment Regulations, Chapter VII Para F 1.4 / F 2.5 as the case may be. |
| E | Payment to be made by the member-in-shortage when Settlement Shortage is allocated by CCIL | |
| 1 | When Security shortage allocated | a) 5 basis point per Rs.100 on the face value amount of security shortage (Minimum charges would be Rs.100/-). and b) Compensation payable by the member-in-shortage and receivable by the non-defaulting Allocatee member as per Chapter VII -Settlement Shortage & Defaults of Securities Segment Regulations, Para F 2.5. and Para F 2.6. |
| 2 | When Funds shortage allocated | a) 5 basis point per Rs.100 on the amount of funds shortage (Minimum charges would be Rs.100/-). and b) Compensation payable by the member-in-shortage and receivable by the non-defaulting Allocatee member as per Chapter VII -Settlement Shortage & Defaults ofSecurities Segment Regulations, Para F 1..4 and F-1.5. |
GST and applicable taxes shall be charged separately on the above fees and charges;
| Sr. No | Particulars | Charges | ||||||||||||||||||||||||
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| 1 | Settlement of Trades (Payable by each counter-party) |
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| 2 | Delayed payment of Transaction Charges and System Usage charges. (If payment is made after 10th of a calendar month.) |
5 basis point per day on the amount of charges. | ||||||||||||||||||||||||
| 3 | Default | A) Bank Rate plus 5% p.a per day on the amount of default (INR or USD) till the default is fully met and B) Line of Credit (LOC) charges incurred by Clearing Corporation to meet such (INR or USD) default. |
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| 4 | Penalty on Cash Settlement | A penal charge of 0.01% shall be levied on the amount Cash settled. | ||||||||||||||||||||||||
| 5 | Penalty on delayed payment | Settlement obligations in US Dollar received by Clearing Corporation after the cut-off time on the settlement date shall be considered as delayed payment and the applicable charges shall be levied, The charges levied will be @ 0.30% p.a.plus applicable taxes shall be payable by members on the US Dollar settlement obligations received by Clearing Corporation after 10:30 p.m. IST on the settlement date. | ||||||||||||||||||||||||
The schedule of fees and charges as per Notification No CCIL/FXS-CLS/24/02 dated 06th February, 2024; effective from 1st March, 2024 is given below:
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Cost | Remarks |
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CLS Trade processing fee (including submissions, amendments and cancellations) |
USD 4.15 | Per deal |
| Any other charges | On actual basis | As charged by the settlement bank |
Error Financing Cost (for not adhering to prescribed code word “/ACC/CLSFUNDING” in Field 72 of MT202 sent by Member Banks) |
On actual Basis | As charged by the settlement bank |
The above charges would be uniformly applicable across Banks in India, IBU entities set up in IFSC-GIFT city Gujarat and overseas branches of Indian Banks.
Following are the details of the currency in which the CCIL CLS services invoice would be raised:
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Curency for billing |
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| Banks in India | INR Terms |
| IBU Entities | INR Terms |
| Overseas Branch of Indian Banks | USD Terms |
(with effect from 01st August 2010)
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| Average Outstanding value of Forward Trades. | Rs.20/- per million per month on average outstanding USD value of plus GST. |
Note: Transaction Charges applicable to Settlement of Forex trades shall be applicable to Settlement of Forex Forward Segment trades also. Transaction Charges and Outstanding Forward Charges are payable latest by 10th of the subsequent month as per relative Bill, failing which penalty would be payable at applicable rates. |
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All members of CCIL’s Rupee Derivatives Segment are hereby notified that following monthly charges shall be applicable for the Rupee IRS and FRA trades reported by them to CCIL w.e.f. 1st October 2019.
Schedule of the charges will be as under:
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| 1) | Trade Processing Fees | Rs. 10/- per trade for all new reported trades. No charges shall be applicable to subsequent amendments, cancellations and reversals. |
| 2) | Trade Settlement Charges | Rs.25/- shall be charged per instance of settlement per trade for cash flow settled under non guaranteed settlements. |
| 3) | Charges for Outstanding IRS & FRA Transactions reported to CCIL for Guaranteed Settlement | Rs.3/- per crore per month on average outstanding notional amount of IRS & FRA trades . |
Note:
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All Members of CCIL Trade Repository are hereby notified that following schedule of charges shall be levied on all Inter-bank OTC Forex Derivatives Trades reported to CCIL w.e.f 02nd September, 2024.
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Forex Forwards | Rs. 125 per new trade (both outright and forward leg of swap trades) on matched basis in FCY-INR and FCY-FCY Forwards instruments. |
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Other Derivative Trades | Rs. 250 per new trade on matched basis in all other OTC forex derivative instruments processed in TR i.e. FCY-INR and FCY-FCY currency options, currency swaps, FCY Interest Rate Swaps, FCY Forward Rate Agreements, FX Exotic, IR (Interest Rate) Exotic, Bond FRA, Swaptions , Interest Rate Options & CDS (Credit Default Swaps). A trade shall be charged when it gets matched in CCIL-TR. There shall be no charges for subsequent amendments, cancellations and reversals. In respect of Currency Options & Fx Exotic, a strategy shall be charged as a single trade regardless of the number of the trades within the strategy. |
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Annual Maintenance Fee | Rs.125 per outstanding trade on matched basis in FCY-INR and FCY-FCY Currency Options, Currency Swaps and FCY Interest Rate Swaps and Forward Rate Agreements, FX Exotic, IR (Interest Rate) Exotic, Bond FRA, Swaptions, Interest Rate Options & CDS. In respect of Currency Options, & Fx Exotic an outstanding strategy shall be considered to be a single outstanding trade regardless of the number of trades within the strategy. The number of outstanding trades will be computed as the yearly average of the number of outstanding trades at the end of each month. The annual maintenance fee will be computed at the end of every financial year. There is no Annual Maintenance fee applicable for Interbank forward trades. |
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Annual Membership Fee | Rs.25,000 per member of the OTC Derivatives Trade repository payable at the beginning (i.e. on April 1st) of every financial year. |
Note: a) The TR charges shall be applicable for Overseas Branches of Indian Banks & Related Entities of Standalone Primary Dealers (SPD).b) GST shall be applicable for all the above charges. c) Member bills for New Trade Processing fee shall be raised at the end of every month and shall be payable by 10th day (or the next business day if 10th happens to be a holiday) of the subsequent month. d) Member bills for Annual Maintenance fee shall be raised at the end of every Financial Year and shall be payable by 10th day (or the next business day if 10th happens to be a holiday) of the first month of subsequent financial year. e) The Annual Membership Fee for the next financial year shall be raised at the beginning of the first month of the financial year and shall be payable by 10th day of the same month. |
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All members of CCIL Trade Repository are hereby notified that following schedule of charges shall be levied on all OTC Derivatives Client trades reported to CCIL w.e.f. 02nd September, 2024.
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Forex Forwards | i) Rs.100/- per trade for all new FCY Forwards
There shall be no charges for subsequent amendments, cancellations, reversals and partial reversals |
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Other Derivative Trades | Rs.200/- per new trade in all other OTC derivative instruments processed in TR i.e. Currency Options (FCY-INR & FCY-FCY), Cross Currency Swaps (FCY-INR & FCY-FCY), FCY Interest Rate Swaps & Forward Rate Agreement and INR Interest Rate Swaps FX Exotic, IR (Interest Rate) Exotic, Bond FRA, Swaptions , Interest Rate Options & CDS (Credit Default Swaps). There shall be no charges for subsequent amendments, cancellations, reversals and partial reversals. In respect of Currency Options & Fx Exotic, a strategy shall be charged as single trade regardless of the number of trades reported within the strategy. |
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Annual Maintenance Fees | (i) Rs.100 per outstanding reported trades in Currency Options (FCY-INR & FCY-FCY), Cross Currency Swaps (FCY-INR & FCY-FCY), FCY- Interest Rate Swaps & Forward Rate Agreement and INR Interest Rate Swaps, FX Exotic, IR (Interest Rate) Exotic, Bond FRA, Swaptions, Interest Rate Options & CDS. |
Note: a) The TR charges shall be applicable for Overseas Branches of Indian Banks & Related Entities of Standalone Primary Dealers (SPD).b) GST shall be applicable for all the above charges. c) Separate member bills for New Trade Processing fee in respect of client trades shall be raised at the end of every month and shall be payable by 10th day (or the next business day if 10th happens to be a holiday) of the subsequent month. d) Separate member bills for Annual Maintenance charges for client trades reported shall be raised at the end of every Financial Year and shall be payable by 10th day (or the next business day if 10th happens to be a holiday) of the first month of subsequent financial year. |
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It is hereby notified that the following charges shall be applicable in respect of membership to CCIL’s Trade Repository for Commercial Papers (CP) and Certificates of Deposit (CDs)
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| 1) | ONE TIME REGISTRATION FEES. | A one-time Membership/Registration Fees of Rs. 25,000/- shall be payable per Segment for Commercial Papers (CP) and Certificates of Deposits (CDs) | ||||||||||||
| 2) | ANNUAL MAINTENANCE CHARGES | Annual Maintenance Charges would also be levied on a per segment basis based on number of transactions of concerned member in the previous financial year as per following slabs:
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Note:
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