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  • MIR 2.8 MIR 2.8 Annual Fees Payable by a Licensed Member

    • MIR-2.8.1

      Every member must pay to the CBB an annual fee on the 1st December of the preceding year for which the fee is due.

      Amended: July 2016
      Amended: April 2014
      Amended: April 2013
      Adopted January 2010

    • MIR-2.8.1A

      Depending on the type of license, some licensees pay only a fixed annual fee while other licensees pay a fixed and a variable fee.

      Amended: July 2016
      Added: April 2013

    • MIR-2.8.1B

      The following fixed annual fees are applicable for licensed discount brokers and licensed clearing members:

      Licensed discount broker (fixed) BD100
      Licensed clearing member (fixed) BD300
      Added: July 2016

    • MIR-2.8.1C

      Licensed brokers and licensed broker-dealers pay the following fixed and variable annual fees:

      License Type Annual Licensing Fee
      Fixed (BD) (Minimum) Variable Fee Total Fee (BD)
        Securities Market Transactions Derivatives Market Transactions  
      Licensed broker BD200 BD5/ for each BD 100,000 of trade value BD 0.004/lot BD 0.008 for every one lot Buy+Sell Fixed (Minimum) fee + Variable fee
      Licensed broker-dealer BD300 BD5/ for each BD 100,000 of trade value BD 0.004/lot BD 0.008 for every one lot Buy+Sell Fixed (Minimum) fee + Variable fee
      Added: July 2016

    • MIR-2.8.1D

      The variable fees due on 1st December are those due for the following calendar year, and are calculated on the basis of the firm's latest (full calendar year) value of securities market transactions and/or volume of derivatives market transactions for the previous calendar year: i.e. the fee payable on 1st December 2013 for the 2014 year (for example) is calculated using the total value of securities market transactions and/or total volume of derivatives market transactions for 2012.

      Added: July 2016

    • MIR-2.8.1E

      A licensed broker or a licensed broker-dealer must submit the Annual Licensing Fee Form (Form ALF) duly certified by the licensed exchange or the licensed market operator. The Form ALF includes a declaration by the licensed member confirming that the amount of fees and the total transaction value and/or volume as reported in the Form ALF are accurate. Licensed brokers and licensed broker-dealers must complete and submit the Form ALF to the CBB, no later than 15th October of the preceding year for which the fees are due.

      Added: July 2016

    • MIR-2.8.2

      Where a license is cancelled (whether at the initiative of the firm or the CBB), no refund is paid for any months remaining in the calendar year in question, should a fee have been paid for that year.

      Amended: April 2014
      Adopted January 2010

    • MIR-2.8.3

      A licensed member failing to comply with Paragraph MIR-2.8.1 may be subject to financial penalties as prescribed by the CBB.

      Added: July 2016