Self Clearing Member in the Currency Derivatives Segment
Summary
The circular clarifies that self-clearing members in the currency derivatives segment must maintain a minimum net worth of Rs. 5 crore. It is issued under Section 11(1) of the SEBI Act, 1992, and Section 10 of the SCRA, 1956 to protect investor interests. The regulation becomes effective immediately from the date of issuance.
Text
such self clearing member shall have a minimum net worth of Rs. 5 crore.
This circular is issued in exercise of the powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act 1992, read with Section 10 of the Securities Contracts (Regulation) Act, 1956 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.
The circular shall come into force from the date of the circular.
Source: SecMarx — Self Clearing Member in the Currency Derivatives Segment. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.