Notice No.   20120106-16   Notice Date   06 Jan 2012
Category   Compliance   Segment   SME
Subject   Registration of Market Makers (MMs) on BSE SME Exchange/ Platform
Attachments   III-Undertaking.doc ; II-Networth Certificate.doc ; Proceedure SME-MM .pdf ; I-Market maker Application Form.doc ;


                                                                                                                                                                                                                                                                                                BSE Limited, Mumbai

DATE: 30-12-2011

To: All Members of the BSE Ltd

SUBJECT: Registration of Market Makers (MMs) on BSE SME Exchange/ Platform

Reference: Letter No. OW/WRD/DSA/30653/2011 dated 27-09-2011 of SEBI

Please refer to the SEBI letter in above reference and the BSE Media Release dated September 28, 2011, which affirms that ‘SEBI grants the approval to Bombay Stock Exchange Ltd. for Setting up the SME Platform/Exchange’ .SEBI has time to time issued circulars, clarifying the regulations for Setting-up of SME Platform/ Exchange. The Rules and the regulations are given on the BSE SME Exchange website . BSE Ltd. is fully compliant with these circulars and will be launching the BSE SME Exchange soon.


All existing members in cash segment of BSE Ltd are automatically eligible to trade in BSE SME segment and hence they do not require any separate Registration. Those who are not the members of the cash segment will first obtain SEBI registration certificate in order to become eligible to trade in SME segment.


The members of the cash segment who desire to become Market Makers will have to upload the prescribed application form electronically along with scanned copies of supporting documents in BSE’s Electronic Filing System (BEFS) for registration of Market Makers. The detailed process flow for uploading of form is enclosed. The members should also submit the application forms completed in all respects along with the necessary annexure and with the print outs of upload reference number uploaded on BSE portal to the Membership Compliance Department. The Exchange will register the members of cash segment of BSE Ltd as a Market Maker on BSE SME Exchange/ Platform of the Exchange on their fulfilling the eligibility criterion for registration of member as Market Maker in SME Segment is as under:



Sr. No.

Criteria for registration


Supporting documents required


Minimum net worth (In Rs. crore)

Rs. 1 crore

Auditor Certificate


Performance history (in years)

Minimum one year in existence from the date of obtaining SEBI registration. In case of new membership, the Director(s) of the company should have at least 3 years of experience in capital market.

SEBI registration certificate and Experience certificate of designated Director(s).



In case of any query/clarification for registration as Market Maker, members are requested to contact the following officials of the Membership Compliance Department:


  1. Mr. Ankit Kothari, Assistant Manager  - 22728287 (Email :
  2. Mr. Hemant Dharap, AGM               - 22728204 (Email :


The member applicants who meet the aforesaid criterion would be registered as a Market Maker in SME segment. A sample copy of application form for registration as Market Maker in SME segment, Auditors certificate for Networth, Experience certificate of designated Director (s) and an undertaking from the member is enclosed for the information of members.




Ajay Thakur

Manager, BSE SME