BASL (a wholly owned subsidiary of BSE) receives SEBI approval to act as an Accreditation Agency for accrediting eligible Investors
Mumbai, November 26, 2021: BSE, India’s premier exchange and the world’s fastest Stock Exchange with a speed of 6 microseconds, today announced that its wholly owned subsidiary BSE Administration & Supervision Ltd. (BASL) has received SEBI approval to act as an Accreditation Agency for carrying out proposed activity of accreditation to prospective Accredited Investors (AI). BSE plans to carry out this activity through its subsidiary BASL – BSE Administration & Supervision Ltd.
Earlier, in the month of August 2021, SEBI had introduced a concept of ‘Accredited Investors’ in the Indian Securities market, wherein a person or an entity will be issued a certificate as an accredited investor based on defined criteria. As per SEBI, these accredited investors may avail flexibility in minimum investment amount or concessions from specific regulatory requirements applicable to investment products, subject to conditions applicable for specific products/ services under the relevant Regulations.
As an accreditation agency, BASL shall be responsible for verification of documents submitted by applicants for accreditation, issuance of accreditation certificate, maintaining data of accredited investors, verification of accreditation status, and any other responsibilities as may be specified by SEBI from time to time.
Commenting on this, Shri Ashishkumar Chauhan, MD & CEO, BSE, said, “We thank SEBI for providing us the approval for setting up Accreditation Agency Accreditation of investors will allow an added layer of benefits to the accredited investors. BASL has the requisite infrastructure including systems and manpower to fulfil this responsibility.”
BSE (formerly Bombay Stock Exchange) established in 1875, is Asia’s first & now the world’s fastest Stock 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, Almond & 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. ICCL is the only clearing corporation in India to have been granted "AAA" rating by two rating agencies, India Ratings Ltd. (Indian arm of Fitch Ratings) and Care Ratings Ltd. 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 framework issued by the Ministry of Finance, Government of India and SEBI. BSE Investor Protection Fund is responsible for creating Capital markets related awareness among the investor community in India.
India International Exchange (IFSC) Limited (India INX) is India’s first international exchange in International Financial Services Centre (IFSC) located at the Gujarat International Finance-Tec City (GIFT City). India INX is a subsidiary of BSE Limited. The Exchange was inaugurated by Hon’ble Prime Minister of India, Shri Narendra Modi, on Jan 09, 2017 and commenced its operations from Jan 16, 2017.
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