NISM Series XIII Common Derivatives Certification Exam Notes
Page 164 Of 303
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SEBI Turnover Fees: Rs.10 per crore for currency derivatives; annual fees apply for clearing members.
Stamp Duty: Uniform across India; collected by Exchanges and remitted to States based on buyer’s domicile.
Clearing Corporation’s Role: The Clearing Corporation registered with SEBI handles clearing and settlement of trades in Exchange-Traded Currency Derivatives (ETCD).
Legal Counterparty: It acts as a legal counterparty through novation, guaranteeing settlement.
Clearing Mechanism: Involves determining open positions and obligations of clearing members.
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