SEBI Directs Stock Exchanges to Regulate "Pro-Account" Trading Terminals, Enforcing Single Location Use to Prevent Misuse.

The Securities and Exchange Board of India (SEBI) has issued a directive to all stock exchanges to regulate the use of "pro-account" trading terminals. Inspections revealed that some members were placing numerous orders from various locations, later transferring these trades to clients, violating client code requirements. To prevent misuse, SEBI mandates that "pro-account" orders be placed only from one specified location, with other terminals restricted to client orders. Members needing multiple location access must submit a justification. Stock exchanges must implement these measures immediately, amend relevant regulations, inform members, and report compliance to SEBI.

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