Sebi's unified broking license proposal faces integration roadblock

Key issue: unification of settlement and risk management mechanism of commodity and stock brokers

The Securities and Exchange Board of India (Sebi) proposal to have a unified licence for all commodity and equity market intermediaries is facing hurdles. Although the move has been approved by the Sebi board, the regulator is still facing issues on certain risk factors, which could delay implementation by up to six months.
 
Sources said Sebi needs to address some of the issues pertaining to the settlement and risk management mechanism of commodities and equities brokers and the regulator needs to find a workaround on the same.
 
“There is some apprehension as meeting operational and compliance obligations in