CIRCULAR CIR/DNPD/ 4 /2011
May 13, 2011
Recognized Stock Exchanges and their Clearing Corporations / Clearing Houses
Dear Sir,
Sub: Self Clearing Member in the Currency Derivatives Segment
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. LADNRO/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.
Yours faithfully,
Sujit Prasad General Manager
