Requirement of Base Minimum Capital Deposit for Category 2 Execution Only Platforms

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..... MD-PoD-1/P/CIR/2023/86 dated June 13, 2023 had prescribed the regulatory framework for Execution Only Platforms (EOP) for facilitating transactions in direct plans of schemes of Mutual Funds through their technology or digital platforms. An EOP for facilitating transactions in direct plans of schemes of Mutual Funds, means any digital or online platform which facilitates transactions such as subsc .....

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..... all operate as an agent of investor and provide services to investors directly and shall not act as an aggregator of the transactions in direct plans of schemes of Mutual Funds. They shall follow various requirements applicable to stock brokers, including maintenance of deposit with the stock exchange. 3. SEBI vide Circulars No. SMD/SED/RCG/270/96 dated January 19, 1996, No. MRD/DoP/SE/Cir-07/200 .....

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..... above, stand modified suitably. All other relevant provisions with respect to BMC Deposit shall continue to remain applicable. 6. The provisions of this circular shall be implemented immediately. 7. Stock exchanges are directed to: a. take necessary steps and put in place necessary systems for the implementation of the above; b. make necessary amendments to the relevant bye-laws, rules and r .....

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