SEBI Reduces Time for Granting Approval to Stock Brokers for Internet-Based Trading (IBT) to 7 Days
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- By Chetan Kulasri
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- Last Updated on 31 May, 2024
Latest from Taxmann
Circular No. SEBI/HO/MRD/TPD-1/P/CIR/2024/68, Dated: 30.05.2024
Under the extant norms, the stockbroker must apply to the respective stock exchange for formal permission to provide Internet-Based Trading (IBT) Services. The stock exchange must communicate its decision to the member within 30 calendar days of submitting the application. Now, it has been reduced to 7 days. Further, the requirement of periodic confirmation of IBT statistics by the stock brokers has been done away with. Exchanges would publish the same information based on the details of IBT terminals provided by the stock brokers.
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