BSE Technologies Private Limited receives authorization from Securities and Exchange Board of India (SEBI) to operate as a KYC Registration Agency (KYC KRA)
Mumbai, April 7, 2022: BSE Technologies Private Limited (BTPL), a 100% subsidiary of BSE received authorisation from SEBI to act as a KYC KRA agency. BSE has always been at the vanguard of implementing the best and leading-edge technologies, processes, and practices for ensuring the safety and integrity of markets. In line with the Government’s vision of inclusive investor reach, where KYC is a pre-requisite for commencement of any investments in the Securities market. BSE’s initiative through BTPL would go a long way towards achieving inclusive investor reach in the securities market.
KYC KRA is SEBI regulated intermediary, which will grant the market participants authorisation of investor’s Know Your Client (KYC), which will be mandatory for investment in securities market.
Speaking on this occasion Shri Ashishkumar Chauhan, MD & CEO, BSE said, “We thank SEBI for reposing its faith in BSE to operate as a KYC Registration Agency. KYC KRA has become a key segment for securities market investors and acts as a starting point for any investor’s journey in the securities market. The long experience of BSE for over 147 years as a frontline Regulator will help in ensuring that BTPL will maintain highest standards of governance and practices. This is an important step by SEBI to enhance the investor faith in the securities markets.
BSE (formerly Bombay Stock Exchange) established in 1875, is Asia’s first & now the world’s fastest Stock Exchange with a speed of 6 microseconds. BSE is India’s leading exchange group and has played a prominent role in developing the Indian capital market. BSE is a corporatized and demutualized entity, with a broad shareholder base that includes the leading global exchange- Deutsche Bourse, as a strategic partner. BSE provides an efficient and transparent market for trading in equity, debt instruments, equity derivatives, currency derivatives, commodity derivatives, interest rate derivatives, mutual funds and stock lending and borrowing.
BSE also has a dedicated platform for trading in equities of small and medium enterprises (SMEs) that has been highly successful. BSE also has a dedicated MF distribution platform BSE StAR MF which is India Largest Mutual Funds Distribution Infrastructure. On October 1, 2018, BSE launched commodity derivatives trading in Gold, Silver, Copper, Oman Crude Oil Guar Gum, Guar Seeds & Turmeric.
BSE provides a host of other services to capital market participants including risk management, clearing, settlement, market data services and education. It has a global reach with customers around the world and a nation-wide presence. BSE’s systems and processes are designed to safeguard market integrity, drive the growth of the Indian capital market and stimulate innovation and competition across all market segments.
Indian Clearing Corporation Limited, a wholly owned subsidiary of BSE, acts as the central counterparty to all trades executed on the BSE trading platform and provides full novation, guaranteeing the settlement of all bonafide trades executed. BSE Institute Ltd, another fully owned subsidiary of BSE runs one of the most respected capital market educational institutes in the country. Central Depository Services Ltd. (CDSL), associate company of BSE, is one of the two Depositories in India.
BSE has set up an Investor Protection Fund (IPF) on July 10, 1986 to meet the claims of investors against defaulter Members, in accordance with the Guidelines issued by the Ministry of Finance, Government of India. BSE Investor Protection Fund is responsible for creating Capital markets related awareness among the investor community in India.
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