New margin pledge system: Sebi to meet brokers, depositories on Monday

Markets regulator Securities and Exchange Board of India (Sebi) will again meet stock brokers’ association, depositories and clearing corporations on Monday to analyse the readiness to implement new rules on margin pledge from September 1, sources in the know said.

They also said brokers are not technically prepared to roll out the proposed framework and are seeking a month’s extension to implement the same.

This would be their third meeting with Sebi. The regulator has already met twice this month and discussed the preparedness with the depositories (CDSL and NSDL), stock brokers association and clearing corporations.

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