Description

BSE will levy Annual Maintenance Charges of Rs 4,000 per Authorised Person for FY 2026-27, applicable to all registered APs as on March 31, 2026.

Summary

BSE has issued a reminder regarding Annual Maintenance Charges (AMC) for Authorised Persons (APs). Trading members will be charged Rs 4,000 per registered AP as per Exchange records on March 31, 2026. The charges are applicable for Financial Year 2026-27 and will be effective from April 1, 2026. This follows the original introduction of AMC vide notice no. 20230727-31 dated July 27, 2023.

Key Points

  • AMC of Rs 4,000 per Authorised Person will be levied on all registered APs
  • Charges apply irrespective of the number of segments in which APs are registered
  • AP count will be determined based on Exchange records as on March 31, 2026
  • AMC once charged will not be refunded even if AP registration is cancelled during the year
  • Non-refundable policy applies to cancellations due to any reason including disciplinary action

Regulatory Changes

No new regulatory changes introduced. This circular is a reminder of the existing AMC framework established in July 2023.

Compliance Requirements

  • Trading members must ensure payment of AMC for all registered Authorised Persons
  • Members should review their AP registrations as on March 31, 2026 to assess the applicable charges
  • Trading members are advised to ensure compliance with the AMC payment requirements

Important Dates

  • March 31, 2026: Cut-off date for determining registered APs for AMC calculation
  • April 1, 2026: Effective date for AMC charges for FY 2026-27

Impact Assessment

Operational Impact: Trading members with multiple Authorised Persons will incur annual maintenance costs of Rs 4,000 per AP. This is a recurring annual charge that affects the operational cost structure of trading members.

Financial Impact: Medium - The charge is fixed and predictable, allowing trading members to budget accordingly. The non-refundable nature of the charge requires careful planning regarding AP registrations.

Contact: Members seeking clarification can contact Mr. Umesh Anchan at 022 2272 8397 or membership.ops@bseindia.com

Impact Justification

Routine annual maintenance charge applicable to trading members with registered Authorised Persons. Financial impact is predictable and affects operational costs.