Kunle Kalejaye 17 August 2016, Sweetcrude, Lagos – The Nigerian Stock Exchange, NSE’s new policy scrapping fees on fixed income traded on its platform took effect today (Wednesday).
The revised fee structure, announced last week, will, according to NSE, be piloted for an initial six-month period, and then evaluated to determine its efficiency.
The initial flat listing application fees of 0.15 percent for all bond types has been replaced with variable listing application fees. With this, NSE explained that Corporate Bonds exclusively listed on the NSE, with existing equity listing, will attract 0.01 percent listing application fee.
“Dual listed Corporate Bonds with existing equity listing and other Corporate Bonds will attract 0.0375 percent listing application fees. Similarly, the listing application fees for State and Supranational Bonds has been reduced to 0.05.
“The Exchange also replaced the fixed Brokerage Commission of 0.0005 percent with a negotiable rate capped at 1%. This will enable investors negotiate trading commission with brokerage firms, thus driving competition and best execution,” NSE stated.