The Securities and Exchange Board of India (SEBI) has notified the Securities and Exchange Board of India (Stock Brokers) (Amendment) Regulations, 2022.
As per the notification, “professional clearing member” means a member having clearing and settlement rights in any recognized clearing corporation, but not having trading rights in any recognized stock exchange.”
The notification further amended schedule V to include that this schedule shall apply to every stockbroker who deals in the electronic gold receipt segment and every clearing member / self-clearing member who clears and settles trades in the electronic gold receipt segment, from the date of grant of registration.
It also amended schedule VI and provided that the stockbroker shall have such networth and shall deposit with the stock exchange such sum as may be specified by the Board/ stock exchange from time to time. Further, the quantum of net worth and deposit to be maintained by the trading member/ self-clearing member/ clearing member/ professional clearing member, dealing/clearing and settling trades in securities, shall be as specified in Table 1 and Table 2 of this Schedule.
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