Erroneous transaction fee
Erroneous transaction fee is charged when a trading member or its client makes a large number of erroneous transactions.
A transaction (adding order "AddOrder", deleting order "DelOrder"/"DelUserOrders" or changing order "MoveOrder") is considered erroneous if its execution results in one of the following error code:
Table 1:
| Transaction type | Performance result (error code*) | Points Q |
|---|---|---|
| AddOrder | Cross trade (31) Insufficient client account balance (332) Insufficient broker account balance (333) FOK order is not filled (4103) Session inactive (3) |
10 20 20 5 20 |
| DelOrder | Order not found (14) Session inactive (3) |
10 20 |
| MoveOrder | Cross trade (31) Order not found (50) Insufficient client account balance (332) Insufficient broker account balance (333) Session inactive (3) |
10 10 20 20 20 |
| DelUserOrders | Order is filled, nothing to delete (0) Session inactive (3) |
10 20 |
*as per PlazaII FORTS API description
Methodology for calculating a fee
The erroneous transaction fee is calculated per login for each trading day (starting from the first second of the current day evening clearing session and until the next trading day evening clearing session, exclusive). The transaction fee is charged to the clearing account linked to the trading login at the end of the next trading day.
Erroneous transaction fee is calculated according to the following formula:
Erroneous transaction fee is charged if the following condition is met:
.
Parameters:
| TranFee2 | Erroneous transaction fee (in rubles) | ||
| Capmax = 30 000 | The maximum possible fee (in rubles) | ||
| Capmin = 1 000 | The minimum possible fee that can be charged (in rubles). Fees less then this are waived | ||
| xi |
A value calculated for each as:  where: |
||
| Qi | Amount of all grades for the i-th second | ||
| RoundDown(X;0) | Rounding down of X to the nearest integer | ||
| Li | Limit of specific login determined as (rounded to the nearest integer): where: |
||
| Capaciti yi | The trading login's capacity ** | ||
* Calculated as a product of number of performance units set for the trading login at second i and capacity performance unit. The capacity of one performance unit is 30 transactions per second.
Disabling of a trading login
Once the Block threshold for a login is reached, the Technical Center has the right to disable the trading login until the evening clearing session of the next trading day. The Blocked threshold is reached when:
Once the trading login is disabled, the trading participant's authorized representative should contact the Technical Center support team at (+7-495-287-76-91, help@moex.com). The Technical Center will enable the trading login within 30 minutes after the issue, which caused login disabling, is fixed.
Information about fee amount
Information about the erroneous transaction fee can be obtained in real-time via the gateway of SPECTRA trading system in the FORTS_TNPENALTY_REPL stream.
Information about the fee is made available in the following clearing reports:
- usersXXYY.csv – information about the amount of fee
- tranerrXXYY.csv – information about number of erroneous transactions for each trading login
- tranerrfeeXXYY.csv – detailed information about the amount of fee for each trading login
Clearing reports with the info about the fees are sent at the end of the evening clearing session of the trading day T, where the erroneous transactions were made. Fees are debited from client account during the evening clearing session of the next trading day (T+1).