SEBI on November 27, 2018 issued circular no. CIR/MRD/DRMNP/CIR/P/2018/145 on Implementation of Interoperability among Clearing Corporations. 

Interoperability facility is currently fully operational in Equity, Equity Derivatives and Currency Derivatives segments of the Exchange. However, it has been observed that brokers are not providing the facility of Interoperability across Clearing Corporations to their clients. This has resulted in the benefits of Interoperability as envisaged by SEBI, like netting of trades across Exchanges, lower margin etc. not being offered to investors.

Brokers are advised to enable Interoperability for all interoperable segments, for their clients, by March 31, 2021.

Not providing interoperability to all clients in all interoperable segments shall be treated as non-compliance and shall attract suitable regulatory action, including penalties.

For and on behalf of BSE Ltd.

Hiteshkumar Desai                                          Sandeep Sharma

Additional General Manager                          Senior Manager

Brokers’ Supervision                                       Brokers’ Supervision