SEBI New Rule The Securities and Exchange Board of India (SEBI) has made changes in the Internet-Based Trading rules. New rules for Internet-based trading have come into effect from today. According to the new rule, now the stock exchanges will give approval to the stock broker for internet-based trading within 7 days. Earlier its time limit was 30 days. Let us know in detail in this report.
The Securities and Exchange Board of India ( SEBI ) has made changes in the Internet-Based Trading rules. According to SEBI ‘s rules, now a stock broker will get approval for internet-based trading within 7 days. Earlier, a stock broker used to get approval within 30 days.
Why did SEBI take this decision
SEBI has taken this decision so that stock brokers can trade easily. Under the internet-based trading rule, now the broker will have to take permission from the stock exchange to use the internet-based trading rule service. The broker will have to apply for permission.
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SEBI has issued a circular for internet-based trading rules. According to the circular, the stock exchanges had to inform the brokers about their decision within 30 days, but now they have to inform the brokers within 7 days.
Also, SEBI has done away with the existing requirement of periodic confirmation of internet-based trading (IBT) data by stock brokers before it is published by the stock exchanges. Now, the stock exchanges will publish IBT data based on the details of IBT terminals provided by the brokers.
The decision has been taken after SEBI received a request from the Industry Standards Forum (ISF) of stock brokers regarding internet-based trading. SEBI said that the new guidelines will come into force with immediate effect.
