National Futures and Commodities Exchange to Enhance Its Money Settlement and Nominee Services
London, United Kingdom, January 31, 2013 --(PR.com
)-- Fund Transfers to National Futures and Commodities Exchange through UGRS system
Participants remitting cash prepayments, intra-day marks* and subscription monies to National Futures and Commodities Exchange will be able to execute their transactions through the Uptime Gross Remittance System (UGRS) of the Clearing House Automated Transfer System. The existing service fee of $120 per transaction will not apply to cash prepayments made through this new automated mechanism.
Reduced handling charges for scrip fee concessions
The procedures for processing scrip fee concession applications for transfers between two Participants in respect of a securities portfolio belonging to the same investor will be streamlined and the handling charge will be reduced from 10% of concession granted (with a minimum of $10,000) to a flat fee of $1,000 per application.
"These changes reflect our latest effort in improving our services to meet the needs of our customers and reducing our fees at the same time," said Mr. Ian Bain, NFCX's Head of Clearing. "We are continuously upgrading our systems to provide value added services to the market."