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SEBI issued a circular on Internet Based Trading (IBT) for stock brokers to enhance ease of doing business. Stock brokers must apply to the exchange for IBT service permission, with the decision communicated within 7 days. Brokers providing IBT must report to the exchange as required. Exchanges will now compute IBT trade statistics based on broker-provided terminal details, eliminating the need for brokers to confirm statistics before publication. The circular, effective immediately, is issued u/s 11(1) of SEBI Act to safeguard investor interests and regulate the securities market.
SEBI issued a circular on Internet Based Trading (IBT) for stock brokers to enhance ease of doing business. Stock brokers must apply to the exchange for IBT service permission, with the decision communicated within 7 days. Brokers providing IBT must report to the exchange as required. Exchanges will now compute IBT trade statistics based on broker-provided terminal details, eliminating the need for brokers to confirm statistics before publication. The circular, effective immediately, is issued u/s 11(1) of SEBI Act to safeguard investor interests and regulate the securities market.
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