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Schedule of NASD OTC Market Fees

Equity Fees

NASD SEC CSCS BROKERAGE TOTAL
PURCHASE 0.25% 0.20% – 1.350%
VAT 7.5% – – 7.5%
TOTAL(%) 0.26875 0.20% – 1.45125 1.92
NASD SEC CSCS BROKERAGE TOTAL
SELL 0.25% – 0.20% 1.350%
VAT 7.5% – 7.5% 7.5%
TOTAL(%) 0.26875 – 0.215 1.45125 1.935
Note: Brokerage fee is capped at 1.35% of consideration subject to a minimum charge of N500. NASD Alert Fee: N4.

Bond Fees

SECURITY NASD CSCS BROKERS PARTIES TO BE CHARGED
State & Corporate Bonds N10.00 per million of face value N10.00 per million of face value Nil Seller & Buyer
State & Corporate Bonds N6.00 per million of face value N7.00 per million of face value N2.00 per million of face value Seller & Buyer
Notes:
  1. Trades initiated by Custodians attracts a charge of N10/mill for both NASD and CSCS. 
  2. Trades initiated by a Participating Institution, attracts a charge of N6/mill for NASD, N7/mill for CSCS and N2/mill for Participating Institution.

Registration Fees

NASD PLC SCHEDULE OF PARTICIPANTS FEES
1 Registration Fee for Broker-Dealer 300,000
2 Annual Fee for Broker Dealer 50,000
3 Registration Fee for Authorized Trader – Broker Dealer 70,000
4 Annual Fee for Authorized Trader  – Broker Dealer 20,000
5 Annual Trading Platform Maintenance Fee: Broker Dealer 90,000
6 Trade Guarantee Fund: Broker Dealer (One-Off) 100,000
7 Registration Fee for Broker 200,000
8 Annual Fee for Broker 35,000
9 Registration Fee for Authorized Trader – Broker 70,000
10 Annual Fee for Authorized Trader – Broker 20,000
11 Annual Trading Platform Maintenance Fee: Broker 90,000
12 Trade Guarantee Fund: Broker (One-Off) 100,000
13 Registration Fee for Dealer 50,000
14 Annual Fee for Dealer 20,000
15 Registration Fee for Authorized Trader – Dealer 70,000
16 Annual Fee for Authorized Trader – Dealer 20,000
17 Annual Trading Platform Maintenance Fee: Dealer 90,000
18 Trade Guarantee Fund: Dealer (One-Off) 100,000
19 Registration Fee for Sub-Broker 50,000
20 Annual Fee for Sub-Broker 20,000
21 Registration Fee for Authorized Trader – Sub-Broker 70,000
22 Annual Fee for Authorized Trader – Sub-Broker 20,000
23 Annual Trading Platform Maintenance Fee: Sub-Broker 90,000
24 Trade Guarantee Fund: Sub-Broker (One-Off) 100,000
25 Registration Fee for Accredited Issuing House 200,000
26 Annual Fee for Accredited Issuing House 50,000
27 Registration Fee for Custodian 100,000
28 Annual Fee for Settlement Bank 500,000

Administrative Fees

S/N ITEM FEE (₦)
1 Administrative fee for trading Rights of admitted securities 0.1% of gross proceed of  the issue and 100,000
2 Re-issuance of Trading License 20,000
3 Re-issuance of Certificate of Completion 10,000