SEBI Requires Brokers Functioning in the EOP Segment to Maintain Rs. 10 Lakhs with Exchanges as a ‘BMC’ Deposit
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- Last Updated on 9 October, 2023
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Circular No. SEBI/HO/MRD/POD-III/CIR/2023/165, Dated: 06-10-2023
SEBI has required the members of stock exchanges functioning only in the Execution Only Platforms (EOP) segment (Category 2 EOP) to maintain a sum of Rs. 10 Lakhs with the stock exchange as Base Minimum Capital (BMC) deposit. An EOP is a digital platform which facilitates transactions such as subscription, redemption and switch transactions in direct plans of schemes of Mutual Funds. BMC is the deposit given by the member of the stock exchange against which no exposure for trades is allowed.
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