Circular No. 604
Ref. No. NSE/MEMB/9421 August
To smoothen and fasten the sub
broker registration process, Exchange proposes to automate the system of
collection of sub broker registration fee from the members through Exchange dues
account for onward transmission to SEBI.
The procedure applicable for sub
broker registration process is enclosed as Annexure I along with the detailed
to minimize rejections while scrutinizing the application and ensure faster
processing of applications, members are required to attach scanned copy of the
following documents in jpg, jpeg, and bmp file format for applications being submitted
by them through ENIT
Proof of address of the applicant entity (trade name) -
Telephone Bill, Electricity bill, Ration card,
Proof of experience certificate – Required only in
cases where qualification of Individual/Partner/Director
is less than HSC
Members may kindly note
that the above procedure would be implemented by the Exchange w.e.f September 17,
2007. Consequently, in respect of all sub broker registration request by the
Exchange from September 17, 2007 onwards, registration fee would be collected
only by way of debit to the Exchange dues.
get in touch with Ms. Aarti Khare, Mr. Sujith Sukumaran, Mr. Ramakant
Shatapathy at telephone numbers – 26598247/26598249, 26598100-114 (Ext.
4111, 4118, 4123) for any clarification that you may need in this regard
Stock Exchange of India Ltd
- Members would continue to submit the sub broker
registration applications electronically through ENIT and ensure that the
physical documents are received by the Exchange within 7 days from
submission of application in ENIT.
- Members would be informed through letters in FTP
regarding the applications complete in all respect for which requisite
registration fees should be made available in their respective Exchange
- The Exchange would start collecting the fees through debiting
the Exchange dues account of the members for sub broker applications which
are processed and complete in all respect from the very next day of intimation
to the member.
- Complete applications where the requisite registration
fee (as applicable) is collected by the Exchange would be placed before
the Sub broker Recognition Committee (SRC).
- Status of applicants who are recognized by the SRC
would be informed to the members by way of display of ‘Date of
recognition’ through ENIT.
- After SRC, Status of sub broker applications uploaded
by Exchange to SEBI would be informed to members by way of display of
‘Upload reference number’ and ‘Upload date’ through ENIT within 3 days of
upload by Exchange to SEBI.
- On receipt of the sub broker registration certificate
from SEBI, the details of registration number and registration date would
be made available to the member through ENIT. The physical sub broker
registration certificate would be forwarded to the member for onward
transmission to sub broker.
- Withdrawal request and request for refund would be
considered only in cases which have not been approved by SRC and in such
cases the fees already paid would be considered towards subsequent
application by the member.
- Partial or the total amount collected towards sub
broker registration fees would not be adjusted towards any other dues
payable to the Exchange.
- In case of any shortfall of funds in Exchange account,
first priority for debiting would be Exchange dues and balance if any only
will be considered towards sub broker registration fees.