Sebi plans simpler rulebook for stock exchanges, doing away with obsolete provisions

SEBI has floated its fourth consultation paper aimed at simplifying regulations for market infrastructure institutions, proposing a single master circular for stock exchanges covering both equity and commodity derivatives segments. Key proposals include discontinuing redundant periodic reports, removing the registration requirement for investment managers offering Direct Market Access, introducing single-window registration for brokers providing Smart Order Routing, and doing away with close-to-money norms for options contracts. The review also covers merging investor protection funds for equity and commodity segments, revisiting position limits, and updating the client code modification framework to reduce duplication and improve operational flexibility.