Who Is a Sub-Bro­ker?

Consumer Voice - - Bombay Stock Exchange -

Sub-bro­ker is not a trad­ing mem­ber of the stock Ex­change but acts on be­half of a stock bro­ker as an agent or oth­er­wise for as­sist­ing in­vestors in buy­ing, sell­ing or deal­ing in se­cu­ri­ties through such stock bro­kers. No sub-bro­ker can buy or sell se­cu­ri­ties un­less he holds a cer­tifi­cate granted by SEBI. SEBI has stated that the trad­ing mem­ber of the Ex­change is re­spon­si­ble for the acts, deeds and things of the sub­bro­kers af­fil­i­ated to it.

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