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Bangalore Stock Exchange opens itself to public by way of Deposit based trading
membership. Membership to Bangalore Stock Exchange Limited can be obtained, with
the payment of a non-refundable fee of 1 lakh only. Members of BgSE get an automatic
approval to become sub-brokers of BgSE Financials, the subsidiary of Bangalore Stock
Exchange Limited.
Trading can be done in NSE (Cash, F&O, Currency Futures and Mutual Fund) and BSE
(Cash and Mutual Fund) segments. BgSE Financials provides Depositary services in
both NSDL and CDSL. Attractive brokerage sharing mechanism is being offered. Additional
Incentives on Brokerage is based on Turnover.
End-to-End back-office support is provided and all compliance issues are taken care
of. Brokerage settlement is done on a weekly basis. Clientele data of our members
are fully protected, as Subsidiary Company does not do any proprietary trading.
The trading platform is in the process of revival.
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Fees & Deposits for admission of Trading Members
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1.
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The following are the fees and deposits payable to the Exchange by a Trading Member
at the time of admission:
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TOTAL DEPOSIT PAYABLE BY THE APPLICANT
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RS. 9.00 LAKHS
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BGSE
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(A) NON REFUNDABLE FEE
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Rs. 1,00,000
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(B) REFUNDABLE Money
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BMC
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Rs. 2,00,000
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(CAN BE IN THE FOLLOWING FORM
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- FD FOR RS.1.50 LAKHS+CASH 50,000
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- FD 50,000+CASH 50,000+SECURITIES
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WORTH RS.1.30 LAKHS)
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DEPOSIT MONEY
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Rs. 2,00,000
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(FD LIEN MARKED IN FAVOUR OF BGSE)
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BGSE FINANCIALS LTD (REFUNDABLE)
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(C) PAYABLE TO BGSE FINANCIALS
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RS. 2,00,000
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AS DEPOSIT MONEY
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(D) TRADING MARGIN MONEY
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RS. 2,00,000
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IN ADDTION TO THE ABOVE, SUB BROKER REGISTRATION FEE - RS.20,000/-(BFSL)
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2.
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Annual Subscription:
The Trading Members shall pay Annual Subscription at the rate of Rs.3,000/- or such other amount as may be decided by the relevant authority, before 30th April of every year.
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Service tax as applicable on admission and annual subscription fee to be paid.
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3.
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Net Worth:
A minimum net worth of Rs.20 lakhs is required for cash segment for considering a person / entity to be eligible to be admitted as a Trading Member.
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4.
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Eligibility criteria for a Trading Member
Eligibility criteria for a Trading Member is laid down in the Securities Contracts (Regulation) Rules. The Exchange is adhering to the criteria as also the guidelines of SEBI and the Rules, Byelaws, Regulations and Circulars of the Exchange issued from time to time in this regard while admitting the Trading Members:
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The following are eligible to apply for trading membership subject to the regulatory norms and provisions of SEBI and as provided in the Rules, Regulations, Byelaws and Circulars of the Exchange - |
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Individuals
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Partnership Firms registered under the Indian Partnership Act, 1932;
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Corporations, Companies or Institutions or subsidiaries of such Corporations, Companies or Institutions set up for providing financial services;
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Such other person as may be permitted under the Securities Contracts (Regulation) Rules 1957
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Individuals (Sole Proprietor)
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AGE
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Minimum age: 21 years |
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STATUS
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Indian Citizen |
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EDUCATION
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Should have passed 10 + 2 or 12th standard or an equivalent examination. |
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EXPERIENCE
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Should have a minimum of 3 years experience in an activity related to dealing in securities or as portfolio manager or as investment consultant or as a merchant banker or in financial services or treasury, broker, sub broker, authorised assistant or authorised clerk or authorised representative or remisier or apprentice to a trading member of a recognised stock exchange, dealer, jobber, market maker, or in any other manner in dealing in securities or clearing and settlement thereof. |
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Partnership Firms
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| Criteria |
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AGE
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Minimum age of partner(s): 21 years |
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STATUS
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Registered Partnership firm under Indian Partnership Act, 1932 |
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EDUCATION
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Should have passed 10 + 2 or 12 th standard or an equivalent examination. |
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PARTNERS EXPERIENCE
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Should have a minimum of 3 years experience in an activity related to dealing in securities or as portfolio manager or as investment consultant or as a merchant banker or in financial services or treasury, broker, sub broker, authorised assistant or authorised clerk or authorised representative or remisier or apprentice to a trading member of a recognised stock exchange, dealer, jobber, market maker, or in any other manner in dealing in securities or clearing and settlement thereof. |
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Any change in the shareholding of the partnership firm or their sharing interest shall be effected only with the prior permission of BgSE/SEBI. |
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Corporates
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| A Company as defined in the Companies Act, 1956 (1 of 1956), shall be eligible to be admitted as a trading member of the Stock Exchange provided: |
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such company is formed in compliance with the provisions of Section 12 of the said Act; |
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it undertakes to comply with such other financial requirements and norms as may be specified by the Securities and Exchange Board of India for the registration of such company under sub-section (1) of section 12 of the Securities and Exchange Board of India Act, 1992 (15 of 1992); |
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the directors of such company are not disqualified for being trading members of a stock exchange under clause (1) of rule 8 [except sub-clauses (b) and (f) thereof] or clause (3) of rule 8 [except sub-clauses (a) and (f) thereof] of the Securities Contracts (Regulation) Rules, 1957 and the directors of the company had not held the offices of the directors in any company which had been a trading member of the stock exchange and had been declared defaulter or expelled by the stock exchange |
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| Criteria |
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AGE
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Minimum age of director(s) : 21 years |
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STATUS
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Corporate registered under The Companies Act, 1956 |
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MINIMUM PAID UP
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Rs.10 lakhs |
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EQUITY CAPITAL
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DESIGNATED DIRECTORS
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Identification of at least two directors as designated directors who would be managing the day to day trading operations |
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EDUCATION
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Each of the Designated Directors should have passed 10 + 2 or 12th standard or an equivalent examination. |
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DESIGNATED DIRECTORS EXPERIENCE
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Should have a minimum of 3 years experience in an activity related to dealing in securities or as portfolio manager or as investment consultant or as a merchant banker or in financial services or treasury, broker, sub broker, authorised assistant or authorised clerk or authorised representative or remisier or apprentice to a trading member of a recognised stock exchange, dealer, jobber, market maker, or in any other manner in dealing in securities or clearing and settlement thereof. |
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