How can I become a share sub-broker.?

Question

I would like to start a share trading shop in PIMPRI - PUNE

Answer 1

please go to

http://www.5paisa.com/fiti/agre/index.html


Membership of Exchange

The investors can trade at the Exchange either through the members of the Exchange or through the sub-brokers, who are registered with SEBI through the members. An individual or a company formed in compliance with the provisions of Section 12 or Section 322 of the Companies Act, 1956 can become a member of the Exchange.

Qualifications for becoming an individual member of the Exchange are:


Minimum age of 21 years.
Citizenship of India: The Governing Board may in suitable case relax this condition.
Not been adjudged bankrupt or insolvent.
Not compounded with his creditors.
Not been convicted of an offence involving fraud or dishonesty.
Not engaged as principal or employee in any business other than that of securities.
Not been, at any time, expelled or declared a defaulter by any other stock Exchange.
Either matriculate or has the 10 plus 2 years qualification. Generally, however, preference is given to professionally qualified persons.

Experience:

Minimum 2 years' experience as a partner or authorized clerk or apprentice with a member of the Exchange or in other connected areas in capital market.

A partnership firm as such is not eligible to become member of the Exchange. However, partnership can be formed between two or more members, between a member and his family members, between two or more members and their family members.

A company, seeking membership of the Exchange, should have a minimum paid-up capital of Rs. 30 lakhs. Besides, minimum of its two directors should be appointed as designated directors, fulfilling the criteria for individual members, except the criteria relating to citizenship. The companies, which have become members, are known as corporate members of the Exchange. The corporate members can also hold multiple membership rights in a single company. Such members are called Composite Corporate members. The Composite Corporate members are entitled to various benefits and limits available to individual members in multiple of the membership rights held by them.

The applications for membership submitted by the applicants fulfilling various criteria as discussed above, are scrutinized by the Membership Committee appointed by the Exchange and the Committee recommends the same to the Governing Board. The applicants then get elected by the Governing Board. After paying the requisite fees, the applicant is admitted as the member of the Exchange and application is then forwarded by the Exchange to SEBI for registration. After getting SEBI registration, a member is required to comply with the requirements of net-work connectivity, insurance, maintenance of base minimum capital, opening of accounts with Clearing House and Clearing Bank etc. and thereafter, he is allowed to commence business on the Exchange.

Sub-brokers:

An individual, a partnership firm or a body corporate can become a sub-broker provided he satisfies the criteria relating to educational qualifications, experience, etc. and is affiliated to some member(s) of the Exchange. After scrutinizing the applications submitted by the sub-brokers, the same are forwarded to SEBI for registration. Once a sub-broker obtains certificate of registration from SEBI, he can commence business as a sub-broker. It may be noted that the sub-broker is an agent of the member and is allowed to issue confirmation memos to his clients for their transactions done by him through the main member-broker to whom he is affiliated.



Remisiers:

In order to provide an additional service to investors, the Exchange has introduced a concept of Remisier. Remisier is an entity which brings business to the member-broker and gets commission for the same. An individual or a partnership firm is eligible to become a remisier. An application for remisier is required to be approved by the Exchange. The remisier is not allowed to handle the securities and monies belonging to the clients. The clients get the contract notes issued by the member-brokers for their transactions. The monies and securities are directly exchanged by the clients with the member-brokers.

for more info

http://www.bseindia.com/invdesk/working_xchange1.asp






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Answer 2

You need to pass at least NCFM's Capital Market (Dealer) Module exam. Manage to deposit approx Rs 2 lakh with a broker and he should be glad to hand you over some of his headache.

Answer 3

contact you nearest stock broker with affiliation to bse and nse like geojit. you need minimum investment say Rs.2 lakhs, you need to pass some exams or find a dealer/employee who can pass the exam for you. ask the broker to train you, get your own clients and you are in.

Answer 4

Amrapali Aadya Trading & Investment pvt. Ltd a leading Stock broking company offers free franchise(no security deposit) i all segments (Nse,Bse,MCX ) with excellent trading tips....for more contact- 09323002506

Answer 5

owing covered ventilated corner front side vaastu compliant 900 sq feet commercial space in locality in south delhi near fortis . Interested for brokership in stocks , bonds , IPO's. decade old direct trading experience in cash market segment . Pl reply

Answer 6

Hello Sunil :
Send me an email at [e-mail] will surely tell you how invest to do it without any risks. At good leverages
Dont waste your time looking around

Regards

Answer 7

Aditya Tradig Solution a leading Stock broking company offers free franchise(no security deposit) i all segments (Nse,Bse,MCX-Sx,Mcx,NCDEx) and free trading accounts and free software with excellent trading tips....for more contact-rajesh 09032168385

Answer 8

this is a good idea if u need sub brokership .. call on 9867711111 .. @ investment banker

Answer 9

#Secrets #of #trading!
http://goo.gl/e8NRMe