NATIONAL STOCK EXCHANGE OF INDIA LIMITED.

CAPITAL MARKET OPERATIONS

Circular No: NSE/CMO/10

Download No: NSE/CMT/3896

Date: January 28, 2003

Free Release of NNF document to members and revision of fee/charge on CTCL

NSE has offered a Computer-to-Computer Link (CTCL) facility to its members. This facility has been further extended to Internet based trading.

To enable the vendors/members to utilise the CTCL / Internet based trading facility, the Exchange provides technical specifications (message formats/protocols etc) for the interface with the Exchange's trading system in the form of a NNF document separately for CM and F&O segments. This document is currently available to those paying the requisite fee.

The NNF documents will now be made available to all members free of cost. The members can utilise the information disseminated by the trading system to build tools for analysis, risk management and decision support for their own trading activities. However, members shall not be permitted to use this for other commercial purposes.

Any interface to the trading system for the purpose of trading or order management will still require the approval of the exchange as per the current practice.

The fee/charge structure for all existing empanelled vendors / members using the CTCL / Internet Based trading facility is revised w.e.f. April 1, 2003 as below:

No	Category	Fee/Charges
1.	Empanelled vendors (both segments together).	Annual charge of Rs.2.50 lakhs p.a.
2.	Members procuring CTCL / Internet trading software from non-empanelled vendors / developing the software through in-house teams (both segments together).	Annual charge of Rs.50,000/ p.a.

For fresh applications for empanelment as vendors / members, the revised fees for applications received after January 1, 2003 will be as under

No	Category	Fee/Charges
1.	Empanelled vendors (both segments together).	One time fee of Rs.10 lakhs Annual charge of Rs.2.50 lakhs p.a.
2.	Members procuring CTCL / Internet trading software from non-empanelled vendors / developing the software through in-house teams (both segments together).	Onetime fee of Rs.1.50 lakhs Annual charge of Rs.50,000/ p.a.

In addition, members/vendors who have previously paid for Capital market segment and now wish to seek approval for F & O Segment or vice versa shall not be liable to pay the above one time charges.

Vendors / members empanelled for CTCL solutions would not be required to pay additional charges at the time of empanelment for Internet based trading and vice versa.

This circular will be effective with immediate effect.

For National Stock Exchange of India

Suprabhat Lala

Manager – Capital Markets