Broker fee payment obligations clarified: amended schedule mandates reporting, remittance procedures, and monthly remittance deadlines. The amended schedules require brokers to opt into the new fee framework by specified dates and to designate in writing which exchange will collect fees for their reported off-market transactions; exchanges must obtain these declarations. Exchanges shall remit collected fees by banker's cheque or demand draft and submit broker-level information in prescribed annexure formats for cash and derivative segments. Exchanges must amend bye-laws to facilitate collection, notify members, publish the changes, and report implementation; fee collection begins 1 October 2006 with scheduled remittance deadlines thereafter.
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The amended schedules require brokers to opt into the new fee framework by specified dates and to designate in writing which exchange will collect fees for their reported off-market transactions; exchanges must obtain these declarations. Exchanges shall remit collected fees by banker's cheque or demand draft and submit broker-level information in prescribed annexure formats for cash and derivative segments. Exchanges must amend bye-laws to facilitate collection, notify members, publish the changes, and report implementation; fee collection begins 1 October 2006 with scheduled remittance deadlines thereafter.
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