Review of norms relating to trading by members/sub brokers

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....norms relating to trading by members/sub brokers. 1. During the course of inspections carried out by SEBI of the books of accounts and other documents of members/sub brokers, it has been observed that certain members/sub brokers are dealing through a large number of other stock brokers/sub brokers of the same exchange/other exchange for their proprietary trades as well as trades on behalf of clie....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....s of the same exchange and after carrying out due diligence allow such brokers/sub brokers to deal with only one stock broker/sub broker of the same exchange. 3.2 A stock broker/sub broker of an exchange can deal with only one broker/sub broker of another exchange for proprietary trading after intimating the names of such stock broker/sub broker to his parent stock exchange. 3.3 As per Regulatio....