Japanese equity CSD JASDEC has revised its fee structure to coincide with the acceleration of efforts to dematerialize equity securities.
From 1 April JASDEC fees for book-entry transfer will be based on the number of transactions rather than the number of shares. This approach is used for book-entry transfers of items that are dematerialized already, such as short-term corporate bonds.
“As Japan is in transition to the dematerialisation of securities certificates, JASDEC has been working to adopt the fee structure that is employed internationally by leading international CSDs,” says a spokesman for Bank of Tokyo Mitsubishi in Tokyo.
The standard fee rate will be Yen 200 per transaction for normal-book entries; Yen 50 for book-entries between sub-accounts; Yen 100 for book-entries for the settlement of stock exchange trading.