Description

BSE will levy Annual Maintenance Charges of Rs 4,000 per Authorised Person registered as on March 31, 2026, effective April 1, 2026 for Financial Year 2026-27.

Summary

BSE has issued a reminder regarding Annual Maintenance Charges (AMC) for Authorised Persons (APs). Trading members will be charged Rs 4,000 per Authorised Person registered as on March 31, 2026, applicable for Financial Year 2026-27, effective from April 1, 2026. This charge applies irrespective of the number of segments in which the AP is registered and is non-refundable once levied, even if AP registration is cancelled during the year.

Key Points

  • AMC of Rs 4,000 per Authorised Person will be levied on all registered APs as per Exchange records on March 31, 2026
  • Charges applicable irrespective of number of segments in which AP is registered
  • AMC is non-refundable once charged, even if AP registration is cancelled during the year for any reason including disciplinary action
  • This is a continuation of the policy introduced via notice no. 20230727-31 dated July 27, 2023
  • Charges will be imposed effective April 1, 2026 for Financial Year 2026-27

Regulatory Changes

No new regulatory changes. This circular is a reminder of the existing Annual Maintenance Charges policy for Authorised Persons that was originally introduced in July 2023.

Compliance Requirements

  • Trading members must ensure payment of Rs 4,000 AMC per registered Authorised Person
  • Members should review their AP registrations as on March 31, 2026 to anticipate applicable charges
  • Members are advised to take note and ensure compliance with the AMC payment requirement
  • Contact point for clarifications: Mr. Umesh Anchan (022 2272 8397, membership.ops@bseindia.com)

Important Dates

  • March 31, 2026: Cut-off date for determining registered APs subject to AMC
  • April 1, 2026: Effective date for levy of Annual Maintenance Charges for FY 2026-27

Impact Assessment

Financial Impact: Trading members with registered Authorised Persons will incur Rs 4,000 per AP annually. The total financial impact depends on the number of APs each member maintains.

Operational Impact: Low - This is a routine administrative charge that members should already be aware of from previous years. Members may review their AP registrations before March 31, 2026 to manage costs.

Market Impact: Minimal - This is an internal membership fee that does not affect trading operations or market participants beyond trading members.

Impact Justification

Administrative fee notice affecting all trading members with registered Authorised Persons; predictable annual charge with no new policy changes