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TMI BlogCharges levied by Market Infrastructure Institutions – True to LabelX X X X Extracts X X X X X X X X Extracts X X X X ..... ng public utility institutions act as first level Regulator and are entrusted with the responsibility of providing equal, unrestricted, transparent and fair access to all market participants. The principle of equal, fair and transparent access by MIIs is highlighted in Regulation 39 (3) of Securities Contracts (Regulations) (Stock Exchange and Clearing Corporations) Regulations, 2018 and Regulatio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e to slab benefit). This can also result in an incorrect or misleading disclosure to the end client about the charges levied by MIIs. 4. The aforesaid matter was deliberated with the Secondary Market Advisory Committee (SMAC) of SEBI, wherein it was observed that in addition to impacting transparency, the existing slab-wise charge structure of MIIs can also create a hindrance for the MIIs in ensu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lab-wise viz. dependent on volume/activity of members. c. To begin with, the new charge structure designed by MIIs should give due consideration to the existing per unit charges realized by MIIs so that the end clients are benefitted with the reduction of charges. 6. Accordingly, MIIs are directed to: a. Redesign the existing charge structure and associated processes to comply with the afores ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rd of India (Depositories and Participants) Regulations, 2018 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market to protect the interests of investors in securities and to promote the development of, and to regulate the securities market Yours faithfully, Ansuman Dev Pradhan Deputy General Manager Technology, Process Re- ..... X X X X Extracts X X X X X X X X Extracts X X X X
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