BSE Ltd. has revised its transaction charges to lure large traders as the Asia’s oldest stock exchange looks to boost volumes to compete with its bigger rival National Stock Exchange Ltd.

From April 3, the BSE will charge for every equity trade, it said in a notice on Thursday. The fee starts at Re 1 per trade for up to 5 lakh monthly transactions, and comes down as the number of trades rise. Earlier, it charged a flat Rs 275 for a gross turnover of Rs 1 crore. That compared with Rs 325 for every Rs 1 crore turnover at the NSE, according to the exchange’s website.

An NSE spokesperson declined to comment on the BSE transaction charges when contacted.

The BSE’s move is aimed at attracting more block and bulk deals, said Sandeep Nayak, chief executive officer and executive director of brokerage Centrum Broking. This may help the BSE capture some of the NSE’s market share, but is unlikely to improve the overall market volumes, he said.

The average daily equity turnover at the BSE was one-seventh of the NSE’s Rs 25,000 crore in February, according to data on their websites.