New Delhi, Dec 20 || The Bombay Stock Exchange (BSE) has proposed to introduce a daily broker-wise cap on free order messages in the Equity Cash Segment -- a move aimed at improving order flow discipline and operational efficiency across the market.
According to the report, under the proposed framework, brokers will be allowed to send up to 10 crore order messages per day without any charge. Any order flow exceeding this threshold will incur a fee, the exchange stated in a circular.
According to the BSE, it will track each broker’s total daily order messages and levy charges if the count exceeds the prescribed limit.
The charge has been set at Rs 0.0025 per additional order message, which effectively works out to Rs 2.50 for every extra 10 lakh messages generated beyond the free threshold.
For monitoring purposes, BSE will count all types of order messages placed by a broker in the Equity Cash Segment, including order additions, modifications and deletions. Odd-lot orders will also be included in the calculation. However, settlement auction orders will be excluded from the order message count.