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Dear SharePro User,
Change in Order-wise Brokerage calculation
SharePro allows clients to be charged Order-Wise Brokerage where you can specify the brokerage to be charged on an Order. Apart from setting the brokerage on an Order, you can specify separate brokerages on Delivery and Square-Off Orders. However, we need to understand a few things:
What if an Order is split into Delivery and Intra-Day Trades?
Let us take an example : A client purchases 1000 shares in an Order and later on Squares-off 200 shares. In this situation, the 2nd order is a pure Square-off order, but the first order is part delivery and part quare-off. What does the system do then?
The system calculates the Delivery and Square-off turnover within the Order and charges the type of brokerage whose Turnover is higher. Therefore, in the above case, Delivery Brokerage per Order will be charged on the first order.
But what happens if a broker wants to charge Zero on Delivery Orders?
Many brokers are offering zero brokerage on Delivery Orders, but charge Brokerage on Square-off Orders. In a new change in the system, please note that to remove the argument in implementation, the user must set Zero Brokerage in Order-wise Delivery brokerage to Zero as shown in the snapshot below:
How to know where Order-wise Brokerage has been charged?
A new column has been added to the Trade Register which tells us that Order-wise brokerage has been charged. Note that the column will be hidden, by default, and will have to be switched on from the Columns button on the report. See the snapshot below:
SharePro : Change in Order-wise Brokerage calculation
- SharePro: Important change in Cash and Cash-Equivalent Upoad
- SharePro: Settlement of Running Account of Client’s Funds lying with Trading Member (TM)