As per Circular No. 702, download Ref no. NSE/MEMB/13429 dated November 9, 2009 , an Authorised Person is ‘Any person, individual, partnership firm, LLP or body corporate, who is appointed as such by a Stock Broker (including Trading Member) and who provides access to trading platform of a Stock Exchange as an agent of the Stock Broker’.
Eligibility Criteria & Conditions of Appointment
| Particulars | Description |
|---|---|
| Type Of Constitution | Individual, Partnership Firm, LLP or Body Corporate |
| Eligibility Criteria for Individuals | 1. Should be a citizen of India. 2. Should not be less than 18 years of age. 3. Should not have been convicted of any offence involving fraud and dishonesty. 4. Should have good reputation and character. 5. Should have passed at least 10th standard or equivalent examination from an institution recognized by the Government. 6. The Authorised Person shall also have the necessary infrastructure like adequate office space, equipment and manpower to effectively discharge the activities on behalf of the Trading Member. |
| Eligibility Criteria for a Partnership Firm, LLP or Body Corporate | 1. All the partners and directors, as the case may be, must comply with the eligibility criteria for individuals given above. 2. The Object Clause of the Partnership Deed and the Memorandum of Association must contain a clause permitting the person to deal in securities business. 3. The Authorised Person shall also have the necessary infrastructure like adequate office space, equipment and manpower to effectively discharge the activities on behalf of the Trading Member. |
| Processing Fees |
1. For AP Registration – Rs. 5000/- per segment for Capital Market, Futures & Options, Currency Derivatives and Debt & Rs. 500/- for Commodity Derivatives segment (plus applicable Goods & Service Tax (GST)) Note: Processing fees will be charged after request is submitted on ENIT portal. 2. For AP Cancelation – Nil 3. AP Annual Maintenance Charge - Rs. 5,000/- for all segments (plus applicable Goods & Service Tax (GST)) |
Conditions of Appointment
- The Trading Member and Authorised Person shall enter into written agreement(s) in the form(s) prescribed by the Exchange. The agreement shall inter-alia cover scope of the activities, responsibilities, confidentiality of information, commission sharing, termination clause etc.
- The Trading Member shall be responsible for all acts of omission and commission of the Authorised Person.
- All acts of omissions and commission of the Authorised Person shall be deemed to be that of the Trading Member.
- The Authorised Person shall not receive or pay any money or securities in its own name or account. All receipts and payments of securities and funds shall be made in the name of or account of a Trading Member.
- The Authorised Person shall receive his remuneration- fees, charges, commission, salary etc. for his services only from the Trading Member and he shall not charge any amount from the clients.
- A person shall not be appointed as a Authorised Person by more than one Trading Member.
- A partner or director of an Authorised Person shall not be appointed as an Authorised Person with the Exchange.
- A Director/Partner of a registered Authorised Person cannot be appointed as an Authorised Person in any capacity.
Procedures of Appointment
Trading Members desirous of appointing Authorised Persons are advised to note that approval of the Exchange is required for appointment of an Authorised Person.
The Trading Member shall apply online on ENIT (https://enit.nseindia.com/MemberPortal/) through ENIT> ENIT-COMPLIANCE NEW > Compliance > Authorized Person > Applications > New Registration. The scanned copies of documents (duly certified) as per the checklist should be uploaded on ENIT along with the application. There is no requirement for physical submission of documents at the Exchange.
Trading Members are required to ensure that the Authorised Person appointed by them comply with the requirement relating to their appointment on an ongoing basis.
List of documents
|
List of Documents : The following is the list of documents required in case an applicant wants to be affiliated with a Trading Member in NSE:
All documents uploaded should be certified as true copy by Proprietor/Partner/ Director of the trading member or CA/CS/Advocate while uploading on ENIT. |
Withdrawal/Cancellation of Appointment
Appointment of an Authorised Person may be withdrawn by the Exchange:
- On receipt of a request to that effect from the Stock Broker concerned or the Authorised Person, subject to compliance with the requirements prescribed by the Exchange, or
- On being satisfied that the continuation of Authorised Person is detrimental to the interest of investors or securities market or the Authorised Person at a subsequent date becomes ineligible under any of the clauses under the eligibility criteria.
Trading Members, who want to withdraw/cancel the appointment of any of their Authorised Persons, shall apply for cancellation online on ENIT (https://enit.nseindia.com/MemberPortal/) through ENIT> ENIT-COMPLIANCE NEW > Compliance > Authorized Person > Applications > Cancellation. The necessary scanned copies of the documents (duly certified) as per the checklist shall be uploaded on ENIT along with the application. There is no requirement for physical submission of documents at the Exchange
Withdrawal/Cancellation of Appointment
List of documents
|
List of Documents : The following is the list documents required in case an authorized person wishes to disaffiliate with a Trading Member in NSE:
All documents uploaded should be certified as true copy by Proprietor/Partner/ Director of the trading member or CA/CS/Advocate while uploading on ENIT. |
The status of the application can be tracked online on ENIT. If the application is found to be in order, a registration code shall be provided to the applicant and the Trading member can download the approval letter ENIT-COMPLIANCE NEW > Compliance > Authorized Person > Reports > Authorized Person Report > Download Letters. In case, any deficiencies are observed in the application, the same shall be “Returned” on ENIT with the deficiencies mentioned in the Remarks column. The returned applications can be submitted again by selecting “Re-submit” on ENIT after complying with the requirements.
Format and Checklists for appointment and cancellation of Authorised Person
Download Corporate (.doc) (128 KB)
Download Partnership Firm/LLP (.doc) (120 KB)
Download Individual (.doc) (103 KB)
Download Agreement format between the Trading Member and Authorised Person (.doc) (75KB)
Download Checklist for Cancellation of Authorised Person Application (.doc) (48KB)
Change in constitution/status or change in affiliation
|
In case of change in constitution of Authorised Person from Individual to Partnership Firm/LLP/Corporate or from Partnership Firm/LLP to Corporate, or any change in affiliation with trading members, the member shall submit simultaneous applications both for cancellation of existing appointment (specifying the reason for cancellation as change in constitution) of such authorised person and for fresh appointment. |
Change in details of registered Authorised Person
|
Request needs to be submitted to the Exchange for any change in details of Authorised Person. The request must be submitted only electronically through the ENIT System. Documents required for the application should be self-certified, scanned and uploaded on ENIT by the Trading Member. There is no need to submit any physical documents. The following documents should be submitted to the Exchange via ENIT (ENIT-COMPLIANCE NEW > Compliance > Authorized Person > Applications > Change details): (A) For any change in address (Residential / Office) or addition of branch office of Authorised Person:
(B) For change in name / trade name of Authorised Person:
(C) For change in Contact details:
|
Change in partners/ directors of Authorised Person
|
Request needs to be submitted to the Exchange for any change in Directors/ Partners of an Authorised Person. The request must be submitted only electronically through the ENIT System. Documents required for the application should be self-certified, scanned and uploaded on ENIT by the Trading Member. There is no need to submit any physical documents. The following documents should be submitted to the Exchange via ENIT (ENIT-COMPLIANCE NEW > Compliance > Authorized Person > Applications > Change details):
|
Change in Shareholding Pattern of Authorised Person
|
Download FAQs on Appointment and Cancellation of Authorised persons (.pdf) (167KB)
RELEVANT CIRCULARS
| Download Reference Number |
Date | Subject |
|---|---|---|
| NSE/COMP/70748 (1069KB) | 10-Oct-2025 | Introduction of uploading bulk Authorised Persons cancellation request(pdf) |
| NSE/COMP/70751 (280KB) | 10-Oct-2025 | List of violations and Disciplinary Action on Authorised Person observed during Inspection(pdf) |
| NSE/COMP/63628 (230KB) | 28-Aug-2024 | Framework for Supervision of Authorised Persons (APs) & Branches by Members (pdf) |
| NSE/COMP/62672 (158KB) | 28-Jun-2024 | Restriction on use of certain words by Trading Members/Authorized Person in their name (pdf) |
| NSE/COMP/60859 (79KB) | 26-Feb-2024 | Annual Maintenance Charges towards Authorised Persons (pdf) |
| NSE/COMP/58438 (120KB) | 18-Sept-2023 | Market Access through Authorised Persons (pdf) |
| NSE/COMP/56947 (172KB) | 02-Jun-2023 | Market Access through Authorised Persons (pdf) |
| NSE/COMP/56041 (160KB) | 17-Mar-2023 | Restriction on use of certain words by Trading Members/Authorized Person in their Person (pdf) |
| NSE/COMP/55716 (181KB) | 22-Feb-2023 | Restriction on use of certain words by Trading Member/Authorized Person in their name (pdf) |
| NSE/COMP/50030 (679KB) | 21-Oct-2021 | Market Access through Authorised Persons (zip) |
| NSE/COMP/49509 (580KB) | 03-Sept-2021 | Reporting of clients mapped to Authorised Persons (AP) (zip) |
| NSE/COMP/48536 (604KB) | 09-Jun-2021 | Market Access through Authorised Persons (pdf) |
| NSE/MEM/29830 (70KB) | 29-May-2015 | Digital Submission of changes to registered Authorised Person details (pdf) |
| NSE/MEMB/23055 (42KB) | 26-Mar-2013 | Digital Submission of Authorised Person Application (pdf) |
| NSE/MEMB/22642 (42KB) | 30-Jan-2013 | Digital Submission of Authorised Person Application (pdf) |
| NSE/MEMB/21668 (53KB) | 10-Sep-2012 | Rationalization of process relating to surrender of registration by sub-brokers (zip) |
| NSE/MEMB/19028 (400KB) | 30-Sep-2011 | Acceptance of applications for Authorised Person with Digital Signature through ENIT (pdf) |
| NSE/MEMB/15285 (81KB) | 23-Jul-2010 | Market Access through Authorised Persons (zip) |
| NSE/MEMB/13601 (118KB) | 03-Dec-2009 | Procedure to be followed for appointment and cancellation of Authorised Persons (zip) |
| NSE/MEMB/13429 (70KB) | 09-Nov-2009 | Market Access through Authorised Persons (zip) |
In case of any query or clarification on Authorised Person, please contact us on Toll free 1800 266 0050 or write to us on memcompliance_support@nse.co.in.
Updated on: 04/03/2026
