Sri Lanka's stock exchange has scrapped the minimum brokerage fee of 10 rupees and minimum central depository system fee of five rupees on transactions after it introduced a new trading system.
A statement said the fee of 25 rupees charged from custodian banks for custodian trades has also been done away with from March 19, 2012
The boards of the Colombo Stock Exchange and Securities and Exchange Commission have approved the removal of the minimum brokerage fee of 10 rupees and the minimum CDS fee of five rupees levied on transactions, it said.
The move followed the introduction of the ATS Version 7 automated trading system where the board lot size was reduced to one share.
Accordingly, the 0.64 percent brokerage fee and the CDS fee of 0.024 percent will be applicable for all transactions up to 50 million rupees with effect from April 10," the CSE statement said.
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Previously overlooked by tourists and investors alike, Sri Lanka is shaking off a troubled past to regain its historical status as an economic hub in South Asia, at the centre of a new Silk Route, embracing its proximity to the Asian giants of India and China.
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