Regulatory Alerts2019-01-01
Capital Markets (Derivatives Markets) (Fees) Regulations, 2019
These regulations establish a structured fee schedule for exchange-traded derivatives on Kenyan derivatives exchanges. The framework mandates specific maximum percentage fees for Equity Index Futures and Single Stock Futures, encompassing exchange fees, clearing member fees, trading member fees, investor protection funds, and statutory fees. Total contract fees are capped at 0.14% for Equity Index Futures and 0.017% for Single Stock Futures based on contract value.
THE CAPITAL MARKETS (DERIVATIVES MARKETS) (FEES) REGULATIONS, 2019
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These Regulations may be cited as the Capital Markets (Derivatives Markets) (Fees) Regulations, 2019.
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The fees charged for exchange traded derivatives transactions on a derivatives exchange shall be as specified in the Schedule.
SCHEDULE
| Product | Fee component | Fee Band | Maximum Fee (per value of contract) |
|---|---|---|---|
| Equity Index Futures Contract | Exchange Fees | N/A | 0.02% |
| Clearing Member Fees | 0%-100% of Exchange Fees | 0.02% | |
| Trading Member Fees | 0%-400% of Exchange Fees | 0.08% | |
| Investor Protection Fund | N/A | 0.01% | |
| Statutory Fee | N/A | 0.01% | |
| Total Contract Fees | 0.14% | ||
| Single Stock Futures Contract | Exchange Fees | N/A | 0.025% |
| Clearing Member Fees | 0%-100% of Exchange Fees | 0.025% | |
| Trading Member Fees | 0%-400% of Exchange Fees | 0.10% | |
| Investor Protection Fund | N/A | 0.01% | |
| Statutory Fee | N/A | 0.01% | |
| Total Contract Fees | 0.017% |
Dated the 27th June, 2019.
HENRY K. ROTICH, Cabinet Secretary to the National Treasury and Planning.