Sebi permits transfer of bourses' excess contribution from core SGF

Sebi has given the green light for transfer of excess contribution by exchanges, from core settlement guarantee fund (SGF) of one clearing corporation to another, in an inter-operable scenario.

This comes following requests made by the stock exchanges.

“It has been decided to allow transfer of excess contribution made by exchanges from the core SGF of one clearing corporation to the core SGF of another, in an inter-operable scenario,” the regulator said in a circular.

However, stock exchanges and clearing corporations have been asked to ensure certain conditions.

Following the receipt of request from an exchange in this regard, the clearing corporation that receives