Stock brokers to discuss capital market reforms

MUMBAI, JULY 13. The BSE Borkers Forum and Association of NSE Members of India (ANMI) will organise a convention on July 17 to discuss the impact of capital market reforms including rolling settlement and ban on carry forward products on their businesses.

``The national level meet will also formulate future course of action on the issue of turnover fee and establish a permanent platform to deal with their problems", BSE Brokers Forum spokesperson, Ms. Deena Mehta, said today. The broking community supports reforms but decisions taken in reaction to crisis would not be healthy for the capital market, Ms. Mehta said. Reforms should be introduced after doing the impact analysis, she added.

The Securities and Exchange Board of India should delink the issue on non-payment of turnover fees from granting membership for derivatives segment of stock exchanges, she said.Seeking provision for carry forward products, she said derivatives were not a substitute for badla products and ``there has to be provision for margins trading".

- PTI

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Section  : Business
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