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NOTICES
Notice No.   20221003-22   Notice Date   03 Oct 2022
Category   Others   Segment   EGR
Subject   Membership of Electronic Gold Receipt (EGR) segment of BSE
Attachments   Application_Form_Booklet-NEW MEMBERSHIP.zip ; User Manual_New Member RegistrationAnnexure-1.zip ; User Manual_Additional Segment RegistrationAnnexure-2.zip ; Documents and Checklist_Additional Segment.zip ; Application forms for members of recognised stock exchange.zip ;
Content

The Exchange has received approval from SEBI vide its letter no. SEBI/HO/MRD/PoD-1/P/OW/2022/49801/1 dated September 23, 2022, for setting up Electronic Gold Receipt (EGR) segment platform to facilitate trading in EGR.

 

EGR segment shall require separate membership like any other trading segment for availing trading and clearing & settlement facilities. Further, existing members registered in Cash and/or Futures and Options and/or Currency Derivatives and/or New Debt segment and/or Commodity Derivatives shall be eligible to trade and clear trades for EGR segment.

 

Membership requirement details are as follows:

 

a)         Networth requirement for EGR segment:

        

Segment

Trading Member

(in Rs.)

Trading cum Clearing Member (TCM) (in Rs.)

Trading cum Self-Clearing Member (SCM) (in Rs.)

EGR

25 lakhs

3 crores

1 crore

 

b)        Membership Deposit:

 

         Membership deposit of Rs.10 lakhs shall not be taken from new Members seeking exclusive admission in EGR segment  

 

c)         Exchanges Fees: 

 

         The following fees shall be applicable to new Trading Members seeking admission exclusively on EGR segment of the Exchange:

 

Particulars

Amount

Admission fees *

Rs.50,000.00 plus applicable GST

Annual Membership Subscription fees (collected every financial year)

Rs.1,00,000.00 plus applicable GST

 

Members shall be eligible for applicable rebate on transaction charges w.r.t. the annual membership subscription fees paid for the respective financial year

       

*In case of existing Trading member, the above-mentioned fees shall not be chargeable while applying for EGR segment

 

d)     Base Minimum Capital (BMC):

         BMC (Refundable) – (Min. 50% Cash/Cash equivalent and subject to a max. of 50% non-cash equivalent) as per SEBI circular no. CIR/MRD/DRMNP/36/2012 dated December 19, 2012. The revised BMC requirement to be maintained by stockbroker/ trading member, according to their profiles effective from April 1, 2013, is as follows:

 

Categories

BMC Deposit

(In Rs.)

Only Proprietary trading without Algorithmic trading (Algo)

 10 lakhs

Trading only on behalf of Client (without proprietary trading & without Algo)

 15 lakhs

Proprietary trading and trading on behalf of Client without Algo

 25 lakhs

All Trading Members/ Stockbrokers with Algo

50   lakhs

 

e)        SEBI fees towards new registration in EGR segment

 

The below mentioned fee along with applicable GST shall be required to be paid by Trading Members directly to SEBI through DD/NEFT/RTGS

 

EGR Segment

Trading Member (in Rs.)

One time Registration Fees

50,000.00 along with applicable GST

 

f)          SEBI Turnover fees

 

         SEBI (Stock Brokers) (Amendment) Regulations 2022 dated February 23, 2022, prescribes the below mentioned turnover fees for EGR segment:

 

Segment

Rate/Amount in Rs.

Remarks

EGR

0.00010 per cent of turnover (Rs. 10 per crore)

All sale and purchase transactions in Electronic Gold Receipt.

 

*Additionally, GST shall be applicable on SEBI turnover fees.

g)         Broker Indemnity Insurance policy

 

As per SEBI circular no. SMD/SED/RCG/270/96 dated January 19, 1996, Trading Members are required to obtain indemnity insurance policy for minimum Rs.5 lakhs.

 

Application for new membership should be submitted through Online Member Registration System (OMRS) for Stockbroker registration in EGR segment on URL             

https://membership.bseindia.com/Mem_Login.aspx. User manual is attached as Annexure-1.

 

Existing Trading Members of the Exchange should submit application for admission in EGR segment through BEFS. User manual is attached as Annexure-2.

 

Checklist of documents is attached for your reference.

 

For any further clarifications, please contact below mentioned officials from Membership Operations Department.

 

     Name

Contact no.

Email ID

Amit Kadam

022-22728010

membership.ops@bseindia.com

Nagrajan Mudaliar

022-22728287

Prakash Bhat

022-22728466

Prathamesh Saameal

022-22725177

Rohan Gaonkar

022-22725777

Yogesh Zarkar

022-22728546

 

For and on behalf of BSE Limited

 

Abhijit Pai                                                    Johnson Chiriyath

Deputy General Manager                           Additional General Manager

Membership Compliance                           Membership Operations