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SEBI norms on STP services
MUMBAI,
MAY 26.
The Securities and Exchange Board of India today issued guidelines for Straight Through Processing (STP) services prescribing model agreement between STP centralised hub and its service providers in the Indian capital market.
The regulations also prescribe the eligibility criteria and conditions to work as STP centralised hub and service provider, SEBI said in a communication to clearing houses and exchanges.
STP centralised hub is an infrastructure set-up for rendering STP service which act as a platform for communication between different service providers, SEBI said.
Initially, the market regulator would give approval to run activity as STP centralised hub for five years and service providers for three years, it said.
PTI
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