Internet based trading permissions: exchange decision timeline cut to seven days and broker confirmation of IBT statistics removed. SEBI reduces the decision timeline for exchanges on broker applications to provide Internet Based Trading services from thirty to seven calendar days. It also eliminates the mandatory periodic confirmation by brokers of IBT trade statistics prior to publication; exchanges will publish IBT statistics based on IBT terminal details supplied by brokers and may collect additional information or declarations regarding those terminals as deemed necessary. The circular is effective immediately under SEBI's regulatory authority to protect investors and regulate the market.
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Provisions expressly mentioned in the judgment/order text.
Internet based trading permissions: exchange decision timeline cut to seven days and broker confirmation of IBT statistics removed.
SEBI reduces the decision timeline for exchanges on broker applications to provide Internet Based Trading services from thirty to seven calendar days. It also eliminates the mandatory periodic confirmation by brokers of IBT trade statistics prior to publication; exchanges will publish IBT statistics based on IBT terminal details supplied by brokers and may collect additional information or declarations regarding those terminals as deemed necessary. The circular is effective immediately under SEBI's regulatory authority to protect investors and regulate the market.
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