CLARIFICATION ON SELF-CLEARING MEMBER IN THE CURRENCY DERIVATIVES SEGMENT
Self-Clearing Member in the Currency Derivatives Segment
CIRCULAR NO. DNPD/4/2011, DATED 13-5-2011
1. With regard to the newly created category of self-clearing member, in the currency derivatives segment of a Stock Exchange, communicated vide Notification No. LAD NRO/GN/2011-12/01/11486, dated April 6, 2011, it is clarified that such self-clearing member shall have a minimum net worth of Rs. 5 crore.
2. This circular is issued in exercise of the powers conferred under section 11(1) of the Securities and Exchange Board of India Act, 1992, read with section 10 of the Securities Contracts (Regulation) Act, 1956 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.
3. The circular shall come into force from the date of the circular.
4. This circular is available on SEBI website at www.sebi.gov.in., under the category “Derivatives- Circulars”.