“The smart route to BEST Execution!”

BSE Limited launches Smart Order Routing (SOR) for its members.

Securities & Exchange Board of India (SEBI) has approved and given necessary guidelines for providing Smart Order Routing (SOR).
As quoted in the SEBI circular SOR allows Brokers trading engines to systematically choose the execution destination based on the
factors like price, cost, speed, likelihood of execution and settlement, size, nature or any other consideration relevant to the execution
of the order.

SOR Membership at BSE

• Members can avail SOR facility by applying to the exchange with the SOR application form along with the completed Vendor Certificate
• This will be followed by a systems audit by a BSE empanelled CISA certified auditor
• Members need to follow guidelines mentioned in the related SEBI and BSE circulars on SOR
• Download Audit Checklist for reference

Application Procedure

Members are requested to fill in the Application form and send it to

Chirag A Sodawaterwalla / Atul Bapna
BSE Limited
Membership Compliance Department
27th Floor, P.J.Towers,
Dalal Street, Fort,
Mumbai 400001

Tel.: 022-22728156 / 22728595
Fax: 022-22721338

Following are the relevant notices for availing SOR facility

• SEBI circular for introduction of SOR
• BSE Notice regarding SOR
• SEBI circular for SOR Clarification
• BSE circular:Addendum to SOR notice
• SOR - Common Auditor

Queries and Feedback

Mohit Batra
Mohit.batra@bseindia.com
+91 22 2272 8179