MARKET ACCESS THROUGH AUTHORISED PERSONS

Pursuant to the recommendations made by the Secondary Market Advisory Committee of SEBI
and discussions with major stock exchanges and with a view to expand the reach of the markets
for exchange traded products, it has been decided to allow SEBI registered stock brokers (including
trading members of stock exchanges) to provide access to clients through authorized persons. The
framework governing the market access through authorized persons is prescribed. This framework
provides the minimum requirements and the stock exchanges and stock brokers may prescribe
additional requirements, as they may deem appropriate, in the interest of investors and market.
The authorized person shall not receive or pay any money or securities in its own name or account.
All receipts and payments of securities and funds shall be in the name or account of stock broker.
The authorized person shall receive his remuneration - fees, charges, commission, salary,
etc. - for his services only from the stock broker and he shall not charge any amount from the
clients.