TMI BlogAPPLICABILITY, MANNER OF PAYMENT AND RECOVERYX X X X Extracts X X X X X X X X Extracts X X X X ..... egment wise. 8 [ 5. The quantum of networth to be maintained by the stock broker/clearing member, as specified in Table 1 of this Schedule, shall be reckoned for all segments/stock exchanges. ] 10 [ 6. (1) Where the trading member/ self-clearing member deposits the fund with the clearing member/ professional clearing member/ clearing corporation, the maintenance of variable networth would not be required by that trading member/ self-clearing member to the extent of client s funds deposited with clearing member/ professional clearing member/ clearing corporation. (2) Where the trading member deposits the client s funds with clearing member/ professional clearing member, the computation of variable networth at the level of clearing member/ professional clearing member shall also include the funds of the clients of trading member deposited with the clearing member/ professional clearing member. (3) Where the self-clearing member/ clearing member/ professional clearing member deposits the client s funds with the clearing corporation, the same shall be excluded while calculating the variable networth at the level of the self-clearing member/ clearing member/ professiona ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ading member (in ₹ ) Clearing member (in ₹ ) Self-clearing member (in ₹ ) Cash * * * Equity Derivatives * 50 Lakh 50 Lakh Currency Derivatives * 50 Lakh 50 Lakh Debt * * * Commodity Derivatives NCDE Nil 50 Lakh 50 Lakh RCDE Nil * * Electronic Gold Receipts * 1 crore 1 crore 14 [Execution Only Platforms * * * ] NCDE: National Commodity Derivatives Exchanges RCDE: Regional Commodity Derivatives Exchanges *As may be specified by the Board from time to time. ] 12 [Explanation 1: For the purposes of this Schedule, 'base networth' shall m ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (Stock Brokers and Sub-brokers) (Amendment) Regulations, 2015.w.e.f 28-09-2015 Prior to substitution the heading for the table read as: TABLE ON NETWORTH AND DEPOSIT 4 Inserted by the SEBI (Stock Brokers and Sub-brokers)(Amendment) Regulations, 2015, w.e.f. 28-09-2015. 5. Inserted vide Notification No. SEBI/LAD-NRO/GN/2021/14 dated 30-03-2021 6. Substituted vide Notification No. SEBI/LAD-NRO/GN/2022/73 dated 23-02-2022 before it was read as 1. The stock broker shall have a net-worth and shall deposit with the stock exchange a sum as may be specified by the Board/ Stock Exchange for the relevant segment from time to time. 7. Substituted vide Notification No. SEBI/LAD-NRO/GN/2022/73 dated 23-02-2022 before it was read as 2 [3. The quantum of networth and deposit to be maintained by- (a) the stock broker/ clearing member, dealing /clearing and settling trades in securities, other than commodity derivatives, shall be as specified in Table 1 of this Schedule; (b) the stock broker/ c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... * * * * * Equity Derivatives * * 3 crore 50 lakh 1 crore 50 lakh Currency Derivatives 1 crore * 10 crore 50 lakh 5 crore 50 lakh Debt 50 Lakh (including for proprietary trading member) * 3 crore * 1 crore * * As may be specified by the Board from time to time 4 [TABLE 2 NETWORTH AND DEPOSIT FOR MEMBERS DEALING IN COMMODITY DERIVATIVES Type of member Networth (Amount in Rs.) Deposit (Amount in Rs.) ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
