SEBI excludes small brokers from technical glitch framework

The Securities and Exchange Board of India (SEBI) has excluded brokers with less than 10,000 registered clients from complying with the technical glitch framework.

The move would mean 60% of stock brokers would be kept away from the framework.

“The revised framework carved out certain exemptions from the glitches and the compliance requirement thereof. The glitches which are taking place outside the stock brokers’ trading architecture, glitches that don’t directly affect the trading functionality and those which have negligible impact have been exempted from the technical glitch framework,” the capital markets regulator said in a statement.

Further, the revised framework also extended the time to report glitches from one hour to two hours.

The brokers who come under the revised regulation can also report it to a common platform.