Ease of Doing Business – Internet Based Trading for Stock Brokers
Summary
This circular amends the timeline for stock exchanges to grant permission for Internet Based Trading services from 30 to 7 calendar days. It eliminates the requirement for brokers to periodically confirm IBT statistics before publication by exchanges. The changes are implemented immediately under the powers conferred by Section 11(1) of the SEBI Act, 1992.
Text
The timeline for stock exchanges to communicate decisions on IBT service applications is hereby reduced to 7 calendar days from 30 calendar days.
The existing requirement of periodic confirmation of IBT statistics by stock brokers before publication by stock exchanges is done away with.
Exchanges would publish IBT statistics on the basis of details of IBT terminals provided by the stock brokers.
The circular is applicable from immediate effect and is issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992.
Source: SecMarx — Ease of Doing Business – Internet Based Trading for Stock Brokers. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.