NEW DELHI: Any technical glitch in the ‘trading system’ of stockbrokers during stock market trading will result in them losing financial incentives, Sebi said.
Offer
Stock market regulator SEBI has directed stock exchanges to inform brokers that they may lose incentives in case of technical glitches.
Also, brokers have been instructed to inform the stock exchanges within one hour of any malfunction in their trading systems.
It has also said that the stock exchanges should announce this on their website.
Sebi has announced that these new norms will come into effect from April 1 next year.
action
Sebi has taken this step in the wake of several incidents related to technical glitches in recent times.
However, SEBI has not given any explanation as to how the steps on the incentive offer should be taken.
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