New Delhi, November 3, 2017
Capital markets regulator Sebi today said it has introduced an online mechanism for clearing corporations to make it convenient for them to do business.
The digital platform would help clearing corporations to complete registration and other regulatory filings with Sebi much faster and in a cost-effective manner.
"In order to ease the process of application for recognition renewal, reporting and other filings... Sebi has introduced a digital platform for online filings related to clearing corporations," the Securities and Exchange Board of India (Sebi) said in a circular.
"All applicants desirous of seeking registration/ renewal as a clearing corporation ... shall now submit their applications online only, through Sebi intermediary portal," it added.
Further, all other filings including annual financial statements and returns, monthly development report would also be submitted online.
The online registration and filing system for clearing corporations is operational, the regulator noted.
Clearing corporations carry out the functions of clearing, settlement, collateral management and risk management for various segments of stock exchanges.
[The Economic Times]