Derivatives jagokɛlaw bɛ komisiyɔn sara u bɛ bɛnkan minnu dafa. O komisiyɔnw hakɛ bɛ danfara ka kɛɲɛ ni tarifu ye min sugandira lajɛden fɛ. An bɛna kuma u kan barokun kɔnɔ, ka fara o sara (komisiyɔn) bɛɛ kan, i ka kan ka minnu sara.
- Tarifuba minnu bɛ Moskow Exchange kan
- Sara min bɛ kɛ ka don sannifeere la
- Exchange ani clearing sara
- Sara min bɛ kɛ ka ɲɛsin futures contracts ma
- Sara min bɛ kɛ ka ɲɛsin bɛnkansɛbɛnw ma minnu sinsinnen bɛ margen kan
- Sara min bɛ kɛ ka ɲɛsin scalping jagokow ma
- Sara min bɛ kɛ kalandriya jɛnsɛnni na
- Sara wɛrɛw
Tarifuba minnu bɛ Moskow Exchange kan
Tablo in bɛ Moskow ka wari hakɛw jira sisan (PIB tɛ sara):
| Tɔ̀gɔ | O fɛnw falen-falen yɛrɛ | Koleksi HKO NCC (Centre National de Clearing) . | Total Komisiyɔn |
| Tarif No. 1 ye | |||
| Yɔrɔ jɔlen (rubles) . | — . | — . | — . |
| kɔ | 0,00575% ye . | 0,00425% ye . | 0,01% ye . |
| Tarif No2 ye | |||
| Yɔrɔ jɔlen (rubles) . | mɔgɔ ba 14,38 ye | Mɔgɔ ba 10,63 ye | Ba 25 ye |
| kɔ | 0,0053475% ye . | 0,0039525% ye . | 0,0093% ye . |
| Tarif No. 3 ye | |||
| Yɔrɔ jɔlen (rubles) . | mɔgɔ ba 143,75 ye | Ba 106,25 ye | Ba 250 ye |
| kɔ | 0,0050025% ye . | 0,0036975% ye . | 0,0087% ye . |
| Tarif No. 4 ye | |||
| Yɔrɔ jɔlen (rubles) . | Ba 258,75 ye | Ba 191,25 ye | mɔgɔ ba 450 ye |
| kɔ | 0,0047725% ye . | 0,0035275% ye . | 0,0083% ye . |
| Tarif No. 5 ye | |||
| Yɔrɔ jɔlen (rubles) . | mɔgɔ ba 460 ye | mɔgɔ ba 340 ye | mɔgɔ ba 800 ye |
| kɔ | 0,0046% ye . | 0,0034% ye . | 0,0080% ye . |
Yɔrɔ banbali (min tɛ Changé) – min bɛ sara jago don fɔlɔ la (waati min bɛ kɛ tile kɔnɔ, fɛnw falenfalen bɛ jago kɛ waati min na) kalo o kalo, a mana kɛ cogo o cogo, ni ɲinini ( yamaruya) dɔ tun bɛ yen walima ni jago kuncɛcogo/dafalen tun bɛ yen walima ni a ma kɛ.
Kɔfɛyɔrɔ bɛ sara ka bɔ jago hakɛ la jago don na, komisiyɔn kelen-kelen bɛɛ bɛ kɛ 0,01 rubles ye a dɔgɔyalenba la.
Tarifu bεε bε bεn ka bεnkansεbεn in na, o bε tali kε jεkulu ka ɲinini na walasa ka o ɲɔgɔnna fɛnw falenfalen jagokɛcogo sugandi. Sɛbɛn ka kan ka di HKO NCC Banki ma baarakɛdon 5 kɔnɔ ka kɔn kalolabɔ kalo nata daminɛ ɲɛ (tarifu sugandilen bɛna baara kɛ ka bɔ a la).
Sara min bɛ kɛ ka don sannifeere la
Bolomafaraw hakɛw, ka kɛɲɛ ni Lajɛdenw ka kulu ye, dilanbaga bɛ minnu na, olu bɛ jira jatebɔsen kɔnɔ:
| Jagokɛlaw ka kuluw | Bolomafaraw bɛ kɛ kulu kelen-kelen bɛɛ la |
| “O” ye. | 5 000 000 ye |
| “O” (sara wɛrɛ) . | 250 000 ye |
| “F1” walima “F2”. | 3 000 000 ye |
| “T1” walima “T2”. | 1 000 000 ye |
| “D1” walima “D2.” | 1 000 000 ye |
Sara wɛrɛ bɛ ta ka bɔ “O” kulu la, u tɔgɔ sɛbɛnni kama. A tɛ sara tuma bɛɛ. Desizɔn min bɛ kɛ ni dalilu bɛ yen min bɛ se ka bɔ o sara in na, o bɛ kɛ PJSC Moskow Exchange ka Derivatives Market Committee ka ladilikan kan.
Kuma surun na o kuluw kan:
- “O” ye. Jagokɛlaw ka lase bɛ u bolo ka ɲɛsin brokerage/dealer baara ma walima ka baara kɛ nafolo nafamaw ɲɛnabɔli kan. O kulu kɔnɔmɔgɔw ka kan ka jago kɛ Stock, Commodity ani Money yɔrɔw la. U bɛ se ka jago kɛ ka bɔ:
- a yɛrɛ tɔgɔ la ani a yɛrɛ ka musakaw la;
- yɛrɛ tɔgɔ ani kiliyan ka musakaw la;
- kliyanw tɔgɔ la ani u musakaw la minnu bɛ ka sɛgɛsɛgɛli kɛ, ka fara ka jago kɛ ni sɛgɛsɛgɛlikɛla dɔ ka jirali ye (ka kɛɲɛ n’u bɛ sɔrɔcogo sariyaw yɔrɔ min bɛ tali kɛ o la).
- “F1” ye. Tɔgɔladonnaw ka kan ka kɛ ni lase ye ka ɲɛsin brokerage baaraw ma walima baara kɛtaw ma minnu bɛ kɛ ka nafolo nafamaw mara. Nin kulu in kɔnɔmɔgɔw ka kan ka jago kɛ Stock yɔrɔ la ka bɔ:
- yɛrɛ tɔgɔ ani kiliyanw ka musakaw la;
- kliyanw tɔgɔ la ani u musakaw la – clearing senfɛmɔgɔw, ka fara ka jagokow kuncɛ ni clearing broker dɔ jirali ye.
- “F2” ye. Tɔgɔladonnaw ka kan ka kɛ ni feerekɛla ka lase ye. Nin kulu in min ye Participants ye, olu bɛ se ka jago kɛ Stock Section kɔnɔ walasa ka jago kɛ:
- a yɛrɛ tɔgɔ la ani a yɛrɛ ka musakaw la;
- min bɛ clearing broker jira.
- “T1” ye. Tɔgɔladonnaw ka kan ka lase sɔrɔ dilanko la (lase min bɛ kɛ ka ɲɛsin o bɛnkansɛbɛn in waleyali ma, o bɛ jate – wariko nafolo bɔlenw ni nafolo basigilen ye jagofɛn cogo la) walima baara minnu bɛ kɛ ka nafolo nafamaw mara. O Tɔgɔladonnaw bɛ sɔn ka don Jagokɛyɔrɔ la jagokow kama:
- a yɛrɛ tɔgɔ la ani kiliyanw ka musakaw la;
- kliyanw tɔgɔ la ani u musakaw la — ka lajɛdenw jɛya ;
- min bɛ clearing broker jira.
- “T2” ye. Licitatiw ka kan ka kɛ ni lase ye jagokɛlaw ka baara kama walima u ka kan ka kɛ jɛkuluw ye minnu yɛrɛ ka nafolo hakɛ bɛ se miliyɔn 5 ma. Nin kulu in bɛ se ka don Jagokɛyɔrɔ la jagokow kama:
- a yɛrɛ tɔgɔ la ani a yɛrɛ ka musakaw la;
- min bɛ clearing broker jira.
- “D1” ye. Tɔgɔladonnaw ka kan ka kɛ ni lase ye ka ɲɛsin brokerage baaraw ma walima baara kɛtaw ma minnu bɛ kɛ ka nafolo nafamaw mara. O Tɔgɔladonnaw bɛ sɔn ka jago kɛ Wari Dakun kɔnɔ walasa ka jago kɛ:
- a yɛrɛ tɔgɔ la ani kiliyanw ka musakaw la;
- kliyanw tɔgɔ la ani u musakaw la — ka lajɛdenw jɛya ;
- min bɛ clearing broker jira.
- “D 2” ye. Tɔgɔladonnaw ka kan ka kɛ ni feerekɛla ka lase ye walima ka kɛ jurudon/dugukolo kan jɛkulu ye. Nin Jɛkulu in bɛ se ka jago kɛ Wari yɔrɔ la walasa ka jago kɛ:
- a yɛrɛ tɔgɔ la ani a yɛrɛ ka musakaw la;
- min bɛ clearing broker jira.
Ka kɛɲɛ ni Seko sariyaw ye, Tɔgɔladonnaw bɛ se ka sɔn ka jago kɛ suguya kelen walima caman na siɲɛ kelen, ka fara suguya kelen walima fila kan tilayɔrɔba kelen kɔnɔ.
doncogo sariyaw bɛ se ka sɔrɔ
yan .
Exchange ani clearing sara
O sara fila bɛɛ bɛ sara futures ni margin contracts la, ani exchange fee fana bɛ sara scalping jagow la.
Sara min bɛ kɛ ka ɲɛsin futures contracts ma
Komisiyɔn (sara) hakɛ min bɛ kɛ ka baara kɛ ni yamaruyaw ye minnu tɛ laɲini walima minnu bɛ laɲini nataw kama, o jate bɛ kɛ nin cogo la:
FutFee = Round (Round (abs(FutPrice) * Round(W(f)/R(f);5) ;2) * BaseFutFee;2) Bamako, Mali.
FutFee ≥ 0,01 sɔgɔli.
Formula nafaw dekodɔnni bɛ jira tabali kɔnɔ:
| Tɔ̀gɔ | Decryption (daɲɛw bɔcogo). |
| senna-tɛgɛrɛ | Komisiɔn hakɛ min bɛ jago nataw la (rubɛri la). |
| Kúlukutulen | Baarakɛcogo min bɛ Dòn a kɔnɔ min ka baara ye ka jatebla dɔ Lamini ni tigitigi dilen ye. |
| abs ye | Baarakɛcogo min bɛ nafa dafalen jatebɔ (o jate tɛ taamasiyɛn ye). |
| W(f) ye . | Nafa min bɛ sɔngɔ fitinin taamasiyɛn na, o min bɛ latigɛ ka kɛɲɛ ni siniɲɛsigi bɛnkanw ye (rubɛri la). |
| R(f) ye . | Sɔngɔ fitinin jiginni, min bɛ latigɛ ka kɛɲɛ ni siniɲɛsigi bɛnkanw ye. |
| BaseFutFee ye | Futures freight rate ka basigi wari falenfalen hakɛ min bɛ sɔrɔ Kontra kulu la, a bɛ min kɔnɔ:
|
| Senna-tɛgɛrɛ | Furu sɔngɔ nafa, min latigɛra ka kɛɲɛ ni nin sɛbɛn in dakun 3.4.2-3.4.3 ye (sumani hakɛw la minnu jiralen don u sɔngɔ la ni u bɛ komandi kɛ). |
Sara min bɛ kɛ ka ɲɛsin bɛnkansɛbɛnw ma minnu sinsinnen bɛ margen kan
Margin ye danfara ye sɔngɔ ni musaka cɛ (a bɛ tali kɛ tɔnɔ hakilina na). Wa sugandili danfaralenw ye baara ye minnu bɛ tali kɛ sugandili jago la, wariko tɛ sɔrɔ minnu na sannikɛlaw ni feerekɛlaw bɛɛ ka jatew kan, nka lakana hakɛ bɛɛ bɛ mara jagokɛlaw ka jago jatew kan.
OptFee = Round (min [(FutFee * K); Round(Premium * Round(W(o)/R(o)) ;5) ;2) * BaseFutFee] ;2) Bamako, Mali.
OptFee ≥ 0,01 sɔgɔli.
Formula nafaw dekodɔnni bɛ jira tabali kɔnɔ:
| Tɔ̀gɔ | Decryption (daɲɛw bɔcogo). |
| Opt Sara | Komisiɔn hakɛ (rubɛri la) ka ɲɛsin bɛnkansɛbɛn ma. |
| Kúlukutulen | Tiɲɛni dɔ bɛ dakun tɛmɛnen na. |
| senna-tɛgɛrɛ | Komisiyɔn hakɛ (rubɛri la) ka ɲɛsin futures jago ma. |
| Kalite fɔlɔ | Sugandili sɔngɔ nafa (sumanikɛlanw na minnu ɲɛfɔlen don sugandili sɔngɔ yamaruyasɛbɛn kɔnɔ). |
| W(o) . | A sɔngɔ ka dɔgɔn senfɛtaama hakɛ (rubɛri la). |
| R(o) ye . | Minimum sɔngɔ jiginni. |
| BaseFutFee ye | Sugandili bɛ kuncɛ ni basigi hakɛ min ye, o nafa ye 0,06325 ye (exchange). Basigi tɔnɔ jatebɔlen kuncɛcogo ye 0,04675 ye (kɛrɛnkɛrɛnnenya la). |
| Fɛ | Coefficient wɛrɛ min bɛ fara a kan: K=2. |
Sara min bɛ kɛ ka ɲɛsin scalping jagokow ma
Scalping futures trading ye jago ye min sinsinnen bɛ yamaruyaw kan minnu tɛ laɲini ye. U bɛ na ni siniɲɛsigi jɔyɔrɔw dabɔli n’u dabɔli ye jago waati kelen kɔnɔ. Fɛn wɛrɛw bɛ sɔrɔ nin bɛnkan ninnu minɛnw kan tabali kɔnɔ:
| Tɔ̀gɔ | Ɲɛfɔliw | Faturali |
| Siniɲɛsigiw | Forward transactions minnu bɛ kɛ ka da yamaruyaw kan minnu tɛ laɲini ye, u bɛ na ni jɔyɔrɔw dabɔli ni dadonni ye futures kɔnɔ jago waati kelen kɔnɔ. | 0,5 ye scalping jagokɛlaw ka wari falenfalen sara bɛɛ lajɛlen na. |
| Sugandili minnu bɛ kɛ | Jagokɛlaw ka ɲɛtaa minnu bɛ kɛ ka da yamaruyaw kan minnu tɛ laɲini ye, ni sugandili kɛra jago waati kelen kɔnɔ (nafa mana kɛ min o min ye), o bɛ na ni jɔyɔrɔw dabɔli ye minnu tɛ kelen ye. Sugandili sanni (Call) ani feereli – ka feere (Put) bɛ se ka kɛ sababu ye ka jɔyɔrɔ janw dabɔli ye siniɲɛsigiw la. Call Options feereli ani Put Options sanni bɛna kɛ sababu ye ka futures positions surunw sɔrɔ. Sugandili minnu bɛ kɛ ka ɲɛsin kungolodimi fila ma:
|
Komisiyɔn bɛɛ lajɛlen min bɛ kɛ ka scalping jago kɛ ni sugandiliw ye, o jate bɛ kɛ ni nin formula ninnu ye:
- Sara = (OptFee (1) + OptFee (2)) * K → ni OptFee (1) = OptFee (2);
- Sara = 2 * OptFee(1) * K + (OptFee(2) – OptFee(1)) → ni OptFee(1) < OptFee(2);
- Sara = 2 * OptFee(2) * K + (OptFee(1) – OptFee(2)) → ni OptFee(1) > OptFee(2).
Formulaw kɔrɔw ɲɛfɔli bɛ jira tabali kɔnɔ:
| Tɔ̀gɔ | Decryption (daɲɛw bɔcogo). |
| Sɔngɔ | Total exchange commission ka ɲɛsin scalping operations ma (rubɛri la). |
| Opt Sara(1) | Jagokɛlaw ka sara hakɛ bɛɛ lajɛlen jago waati kelen kɔnɔ ni sugandiliw ye minnu bɛ na ni siniɲɛsigi dabɔli ye, jatebɔlen ka kɛɲɛ ni dakun fitinin ye min tɔgɔ ye ko “Sara min bɛ kɛ ka ɲɛsin bɛnkansɛbɛnw ma minnu sinsinnen bɛ margin kan |
| Opt Sara(2) | Sara hakɛ bɛɛ lajɛlen min bɛ kɛ jagokɛtaw waleyali la jago waati la …, minnu bɛ na ni siniɲɛsigi dadonni ye, jatebɔ bɛ kɛ ka kɛɲɛ ni dakun fitinin ye “Sara … min sinsinnen bɛ margin kan |
| Fɛ | Factor min bɛ kɛ 0,5 ye tuma bɛɛ. |
Sara min bɛ kɛ kalandriya jɛnsɛnni na
Kalandriya jɛnsɛnni – Sanni ni feereli siniɲɛsigiw ni u dafacogo tɛ kelen ye ka da jɛnsɛnni yamaruyaw kan waati kelen na.
FeeCS = ΣFutFeeCS * (1 – K) Formulaw nafaw faamuyali bɛ jira jatebɔsen kɔnɔ :
| Tɔgɔw | Decryption (daɲɛw bɔcogo). |
| FeeCS ye | Sara (rubɛri la) Kalandriya Jatebɔ la ka da yamaruyaw kan minnu tɛ laɲini ye jago waati kelen kɔnɔ. |
| Fɛ | Jigitigɛ hakɛ nafama feereli waati kɔnɔ, o ye 0,2 ye. O waati in, k’a daminɛ jago don fɔlɔ la, o ye kalo wɔɔrɔ ye. O waati kɔnɔ, aw bɛ se ka siniɲɛsigiw kuncɛ ka da yamaruyaw kan minnu tɛ laɲini ye. Waati laban na, jigitigɛ hakɛ tɛ kɛ (yan, a ye = 0 ye). |
| ΣFutFeeCS ye | Sara min bɛ kɛ siniɲɛsigi jagokɛtaw la (rubɛw la) min bɛ sara ka da Kalandriya Spread komandiw kan minnu ma laɲini, o jate bɛ kɛ nin cogo la: FutFeeCS = Round ((Round ((abs FutPrice(1)) + abs(FutPrice(2))) * Round (W( f)/R(f);5)) ;2) * BaseFutFee;2) yɔrɔ min na:
Nafa wɛrɛw kama, sɛbɛn dɔ bɛ yen sanfɛ. |
Formula min bɛ kɛ ka Kalandriya Jatebɔw sara hakɛ jatebɔ nataw kan ka da “Kalandriya Jatebɔ” bɛnkan yamaruya kan jago don na, o ye nin ye:
FeeCS = ΣFutFeeCS Nafa minnu bɛ kɛ, olu ɲɛfɔliw dira sanfɛ barokun kɔnɔ kaban .
Sara wɛrɛw
Nin bolomafaraw fana bɛ yen:
- Bolomafara min bɛ kɛ Garanti Fonds la. Clearing Members kelen-kelen bɛɛ ka bolomafara fitinin min bɛ se ka kɛ o nafolosɔrɔsiraw la, o ye miliyɔn 10 ye. PJSC Moskow Exchange ka sɛbɛn min bɛ nin bolomafara suguya in kan – telesarseli .
- Clearing komisiyɔn ni tarifuw. Hakilina ni kɔrɔw bɛ Se ka Sɔrɔ nin sɛbɛn ninnu na:
- Jagokɛlaw ka sara. sɛbɛn min bɛ ” sara wɛrɛw …” kan , o bɛ bila o sara ninnu na fɛnw falenfalenni fɛ – sɛbɛn lajɛ . A bɛ sara jagokɛlaw ka jagokow la:
- baarakɛbaliya (ni jagokɛla walima kiliyan dɔ bɛ jago caman kɛ, nka o waati kelen na, a bɛ jago caman kɛ);
- Flood Control fililen (ni feerekɛla walima kiliyan ye o ɲɔgɔnna jago caman kɛ ni fili code 9999 ye);
- a kɛra fili la, nka a ni Flood Control tɛ kelen ye (ni feerekɛla walima a ka kiliyan ye o ɲɔgɔnna jago caman kɛ ni fili kode 31, 332, 333, 4103, 3, 14, 50, 0 ye).
Walasa ka jago kɛ Derivatives Market kan, i ka kan fɔlɔ k’a nuances bɛɛ faamuya. O la, tarifuw, komisiyɔn minnu bɛ bɔ u la ani sara minnu bɛ di nin sannifeere suguya in senfɛmɔgɔw ma.
