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.

BONDS 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