SEBI asks Exchanges to charge all members uniformly, to not offer discounts based on turnover volume

Securities and Exchange Board of India (SEBI) has come up with a circular aimed to solve many problems with one shot. SEBI through this circular aims to slow the pace of derivative trading, providing equal, unrestricted, transparent and fair access to all market participants. The market regulator has directed stock exchanges and other market infrastructure institutions (MIIs) to implement a uniform and equal charge structure for all members, prohibiting discounts based on trading volumes or activity. This change will significantly hit big broker revenue, who earns substantial portion of their income from paybacks provided by exchanges for the volumes they generate.