Stock Broking

Exchanges will have to ensure that auditors conduct physical visits to the premises of the stock broker. Further, they will have to develop a web portal to monitor and supervise the process

Jisang Yoo, CEO, Mirae Asset Capital Markets India, will be appointed as the CEO of Mirae Asset Sharekhan.

With 13 million users, Kunal Shah's Cred looks to diversify revenues, complementing payments, lending, and wealth management services

Angel One reported a healthy 44 per cent year-on-year jump in its consolidated profit after tax at Rs 423.4 crore, in the September 2024 quarter.

Discount brokerages, such as Zerodha and Groww, will be impacted the most by the recent regulatory moves to curb investors' derivatives play, domestic rating agency Crisil said on Tuesday. The agency's director Subha Sri Narayanan said up to 80 per cent of a discount broker's revenue comes from derivative trades, while for the full-service brokerages, the same is under a third of the revenues. "With a relatively low proportion of other revenue streams currently and the more stringent eligibility criteria for retail customers now, discount brokers, who cater predominantly to the retail segment, could see the largest impact, with new customer acquisition also slowing," Narayanan said. Its associate director Aesha Maru said competitive dynamics will constrain the discount brokers' ability to hike brokerage charges, which can otherwise be a mitigant in the face of troubles. The agency said capital markets regulator Sebi's revised Equity Index Derivatives Framework announced on October

Starting February 1, qualified stock brokers will have to either offer the facility of trading in the secondary market using the UPI-based block mechanism to their clients, similar to the ASBA facility, or a three-in-one trading account facility, a move that will empower investors. Qualified Stock Brokers (QSBs) must offer one of these two options, in addition to the current mode of trading. A three-in-one trading account combines a savings account, a demat account, and a trading account into a single integrated solution. In this case, the clients would have their funds in their bank account, earning interest on the cash balances. "This initiative will empower and benefit investors with enhanced security, improved transparency, interest earnings and ease of making payments at a time when UPI payments are witnessing significant growth," Rahul Jain, CFO, NTT DATA Payment Services India, said. Additionally, the move will improve fund management and further enhance investors' convenien

The rise in Angel One share price came after the company announced that it will revise brokerage charges with effect from November 1, 2024

However, anticipates 30-50% drop in revenue next fiscal due to regulatory headwinds

The brokers and participants affected were found not to be meeting the required registration conditions

Discount brokers may raise charges

The move is part of the country's top bourse's plan to divest its non-core businesses

Sebi has revoked the registrations of 68 market intermediaries, including 39 stock brokers, 7 commodity brokers, and 22 depository participants, for failing to meet required compliance standards

Under the block mechanism, the amount is not deducted from the bank account unless the transaction takes place

Stock broker Groww on Tuesday announced safeguards and measures to protect F&O traders from potential losses, making it one of the firsts to implement curbs at broker level

The outlook for Indian capital market related businesses continues to remain positive over the medium to long term.

Sebi's proposed changes will significantly impact discount brokers, whose business relies heavily on retail F&O trades, Vora said in this interview

The hacker claims to have accessed sensitive data, including profit and loss statements of affected customers of the Mumbai-based stock broking company

Globally, growing number of parliamentarians are worried about legitimised gambling via stock exchanges which has social and financial implications, said CJ George, founder & MD, Geojit Financial

The worst impact is seen on discount brokerages that currently pocket a neat spread between what they charge their end-clients and what they pay the exchanges as charges

The new fee structure, which kicks in from October, has a significant impact on brokers, traders and investors, Nithin Kamath, CEO and co-founder of Zerodha, said on social media platform X