Page 4 - Brokers
Sebi working on new ASBA-like payment system for secondary trades: Buch
Sebi's planned move could upend Rs 30,000-crore broking industry
 "Sebi working on new ASBA-like payment system for secondary trades: Buch")
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.
 "Demat a/cs maintained by stock brokers need to be tagged by June-end: Sebi")
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
 "Give real estate brokers quoting below-market prices a wide berth")
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.
 "NSE Co-location Scam: CBI seizes digital devices from brokers after raids")
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
 "Relief for brokers as Sebi relaxes norms for calculating peak margins")
Sebi pushes timeline to segregate and monitor collateral at client level
Sebi further defers new margin rule to May 2
 "Sebi pushes timeline to segregate and monitor collateral at client level")
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
 "Battered Paytm gets its first bullish rating from a major broker")
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
 "API developers rankled by Sebi algo papers, plan to approach regulator")
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
Sebi seeks to hike net worth requirement for brokers as defaults spike
Industry players said the latest proposals will put further pressure on the brokers, who have been grappling with several regulatory changes
 "Sebi seeks to hike net worth requirement for brokers as defaults spike")
Markets regulator Sebi cancels registration certificates of two brokers
The brokers were members of NSEL and had facilitated trading in paired contracts on the NSEL platform.
Top five digital brokers corner over half of industry's active client base
Despite breakneck growth, not all brokers are consistently churning out a profit
 "Top five digital brokers corner over half of industry's active client base")
This derivatives trader chose financial education over brokerage business
The man who hates seeing people losing money started Kredent InfoEdge, whose two platforms offer video courses on investing and a base for learners to dive into stock fundamentals and technicals
 "This derivatives trader chose financial education over brokerage business")
Sebi gives more time to brokers, clearing members to comply with rules
The watchdog has also given time till December 31 to brokers for operating the trading terminals from designated alternate locations
 "Sebi gives more time to brokers, clearing members to comply with rules")
NSE clarifies on Nifty Futures 'freak trade', seeks explanation from broker
'Since order was within the operating range, the order matched with existing sell orders in the order book and two trades got executed at a price within the trade execution range,' says stock exchange
 "NSE clarifies on Nifty Futures 'freak trade', seeks explanation from broker")
New margin norms weigh on volumes, brokers estimate 10-15% impact
Industry players say biggest impact could be on derivative futures volume followed by cash market volumes
 "New margin norms weigh on volumes, brokers estimate 10-15% impact")
Anmi urges Sebi to reconsider the proposal on 100% levy on peak margin
Sharing its data with the regulator, Anmi pointed out that the rate of overnight margins, levied on intraday trades are almost 3.33x more than what is warranted based on the risks of the trade
 "Anmi urges Sebi to reconsider the proposal on 100% levy on peak margin")
Sebi mulling new framework to prevent misuse of client collateral
The rules are aimed at identifying each client's collateral and ensuring it is utilised towards the margins of that client only
 "Sebi mulling new framework to prevent misuse of client collateral")
NSE outage: More serious questions
The outage caused a serious embarrassment, not only for the NSE but also for the Securities and Exchange Board of India (Sebi) and the government of India
