Brokers

Discount brokers take giant strides; now account for 57% of active clients

The majority of incremental customer acquisition is now happening from tier-2 cities

Exchanges designate 15 stock brokers as QSBs with enhanced obligations

Additional responsibilities are in areas of financial stability, audit, related-party transaction, cyber security, risk management; enhanced monitoring of these QSBs to start on July 1

Sebi asks brokers, depositories to maintain websites to bring transparency

With an aim to bring in transparency, capital markets regulator Sebi on Thursday mandated all stock brokers and depositories to maintain websites. A designated website brings in transparency and helps the investors to keep themselves well informed about the various activities of the Stock broker (SB) and Depository participant (DP). In view of the same, considering the advancement in technology and need to provide better services to the investors, all SBs and DPs have been mandated to maintain a designated website, Sebi said in a circular. Such website would mandatorily display information such as basic details of the SB/DP such as registration number, registered address of head office and branches and names and contact details such as E-mail IDs etc of all key managerial personnel, including compliance officer. In addition, such website is required to display step-by-step procedures for opening an account, filing a complaint on a designated E-mail ID, and finding out the status of

Tightening the grip: Sebi's daily transfer diktat to further pinch brokers

In a new paper, Sebi has proposed the daily transfer of client funds to clearing corporations

High-frequency traders must be highly cost-conscious while choosing brokers

Platform reliability, time to meet margin calls are other key criteria for traders while selecting a broker

Brokers fret as secondary market ASBA gains motion with new UPI feature

They are staring at a 15-20% drop in the revenues they make from interest on the surplus funds clients park with them. Something similar had played out when ASBA was launched for IPOs

Settlement scheme to be extended for 150 brokers from December 19

The scheme ends on January 19, 2023; terms and conditions will be made available on date of commencement

"Differentiated offerings should be the criteria for selecting a broker"

Funds mismatch under new settlement process may invite stricter Sebi norms

According to the new mandate, stock market brokers are required to transfer unused funds back to the client's account at least once each quarter

Running accounts Settlement: New Sebi guidelines in motion from Friday

However, industry experts feel that with tighter rules, brokerages will need to have higher working capital and will involve operational risk of transferring large amounts

Sebi working on new ASBA-like payment system for secondary trades: Buch

Sebi's planned move could upend Rs 30,000-crore broking industry

Demat a/cs maintained by stock brokers need to be tagged by June-end: Sebi

Credit of securities will not be allowed in any demat account left untagged from July 1 onwards. However, credits on account of corporate actions will be permitted, the Sebi said in a circular.

Give real estate brokers quoting below-market prices a wide berth

Stick to RERA-registered brokers, preferably the tech-savvy kind, and look for deep knowledge of the micro-market you are interested in

NSE Co-location Scam: CBI seizes digital devices from brokers after raids

The Central Bureau of Investigation (CBI) has recovered incriminating documents, digital devices and other crucial evidences during raids conducted at 10 places belonging to different brokers in connection with the co-location scam involving Chitra Ramkrishna, former MD & CEO of National Stock Exchange (NSE), and Anand Subramanian, the ex-Group Operating Officer of NSE.

Relief for brokers as Sebi relaxes norms for calculating peak margins

Broker's lobby had requested a change in the procedure for upfront collection of peak margins from clients in both cash and derivatives segment

Sebi pushes timeline to segregate and monitor collateral at client level

Sebi further defers new margin rule to May 2

Battered Paytm gets its first bullish rating from a major broker

Morgan Stanley has started coverage on the digital payments startup with an overweight rating and a price target of 1,875 rupees, which implies 43% upside from Tuesday's close

Brokers want time limit be imposed on Sebi to issue show-cause notices

At present, the Securities and Exchange Board of India Act, 1992 does not prescribe any period of limitation for issuance of a show-cause notice (SCN) or for completion of the adjudication proceeding

API developers rankled by Sebi algo papers, plan to approach regulator

Classifying all API orders as algo could stifle innovation: Industry players

CDSL glitch hits sell orders, brokers allow clients to skip authorisation

Market players said issue was with CDSL's portal used for authorising debit of securities from demat accounts. The system was set up last year to prevent misuse of power of attorney by brokers