The concession period for handling fee of special sessions on the block trading system is prolonged to December 31, 2009, according to a notice issued by the Shanghai Stock Exchange (SSE) on April 14 to its member units and qualified investors.
According to the previous “Notice of Concession to Handling Fee of Special Sessions on Block Trading System” (Shang Zheng Jiao Zi [2008] No. 11), the handling fee of special sessions on the block trading system was charged preferentially by the SSE at 10% of the handling fee on the auction trading system (i.e., 0.0011% of the turnover) and the concession period would end after December 31, 2008. To promote special sessions on the block trading system, the SSE decides to extend the concession period to December 31, 2009. Accordingly, all member units are required to cut the related fees from the commission that qualified investors are charged as well as give them appropriate discount on the commission.