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SEBI Circular For MIIs: Zerodha May Discontinue Zero Brokerage Structure

Inc42 · 1y ago

SEBI Circular For MIIs: Zerodha May Discontinue Zero Brokerage Structure

Zerodha's CEO, Nithin Kamath, revealed that the company may have to abandon its zero brokerage structure or increase brokerage fees for F&O trades due to recent SEBI regulations. The new circular requires market infrastructure institutions to have a uniform and equal charge structure for all members, eliminating the rebate that contributes to 10% of Zerodha's revenue. This change may lead to adjustments in the brokerage fees for their customers.

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Zerodha sees end of zero brokerage model after new fee rules

Economic Times

Economic Times · 1y ago

Zerodha sees end of zero brokerage model after new fee rules

Zerodha, India's largest discount broker, may have to abandon its zero-brokerage model and increase derivative trading fees following a mandate by the market regulator, SEBI. The new fee structure, which comes into effect in October, aims to curb excessive trading in segments like derivatives. Nithin Kamath, CEO of Zerodha, said the changes will have a significant impact on the industry and that other brokers will also need to adjust their pricing. The move has caused a drop in stock prices for listed brokerages such as Angel One, SMC Global Securities, and Motilal Oswal.

SEBI Bars MIIs From Offering Volume-Based Discounts To Brokers

Inc42 · 1y ago

SEBI Bars MIIs From Offering Volume-Based Discounts To Brokers

SEBI has announced that market infrastructure institutions (MIIs) will no longer be allowed to offer volume-based charge structures starting October 1, 2024. This decision aims to ensure transparency and equal access for all participants. New-age stockbrokers like Zerodha, Groww, Upstox, and Angel One may be affected as they typically receive lower rates from MIIs.

Equity investors saved up to Rs 20,000 crore in 10 years on zero brokerage: Nithin Kamath

Economic Times

Economic Times · 3m ago

Equity investors saved up to Rs 20,000 crore in 10 years on zero brokerage: Nithin Kamath

Zerodha CEO Nithin Kamath revealed that investors saved between Rs 2,000 crore and Rs 20,000 crore over a decade after Zerodha eliminated brokerage charges for equity delivery. Despite challenges, the zero-brokerage policy remained, reflecting the substantial savings compared to standard market rates. Kamath emphasized the impact of brokerage costs on returns, stating these often-overlooked costs hinder profits. He clarified Zerodha's name origin as "Zero + Rodha" (barriers in Sanskrit), not "Zero + brokerage."

Zerodha Sticks To Zero-Brokerage Model As SEBI Norms Kick In

Inc42 · 9m ago

Zerodha Sticks To Zero-Brokerage Model As SEBI Norms Kick In

1. Zerodha may no longer offer zero brokerage due to new SEBI mandates. 2. The new mandates prohibit discounts based on trading volumes or members' activities. 3. Zerodha's consolidated net profit increased by 61% to INR 4,700 Cr in FY24. 4. The company's operating revenue rose by 21% YoY to INR 8,320 Cr. 5. The mandates came into effect on October 1, impacting market infrastructure institutions.

Sebi seeks public comments on draft circular to regulate association with prohibited entities

Economic Times

Economic Times · 7m ago

Sebi seeks public comments on draft circular to regulate association with prohibited entities

The Securities and Exchange Board of India (SEBI) has released a draft circular to regulate associations between market intermediaries, market infrastructure institutions (MIIs), and entities involved in prohibited activities. This comes after amendments were made to SEBI's rules earlier this year to curb unregistered entities providing investment advice and unauthorized claims of returns. The circular clarifies that intermediaries and MIIs are prohibited from associating with entities offering unregistered securities advice or making unauthorized claims. It also outlines the consequences of violations and requires regulated entities to terminate contracts with prohibited entities by January 2025. Stakeholders have until December 27 to provide feedback on the draft.

Zerodha gets final nod for AMC licence from Sebi

Economic Times

Economic Times · 1y ago

Zerodha gets final nod for AMC licence from Sebi

Zerodha, a leading Indian stock brokerage, receives final approval from SEBI for an Asset Management Company (AMC) license. This endorsement allows Zerodha to enter the asset management space, further expanding its financial services offerings. The approval underscores Zerodha's growth and diversification strategy, enabling it to cater to a wider range of investment and financial needs for its customers.

Adani-Hindenburg Case: Kotak Bank created, oversaw fund used to bet against Adani, claims US short-seller | Mint

Livemint

Livemint · 1y ago

Adani-Hindenburg Case: Kotak Bank created, oversaw fund used to bet against Adani, claims US short-seller | Mint

Hindenburg Research claims that Kotak Mahindra Bank and brokerage firms associated with Uday Kotak were involved in creating and managing the offshore fund structure used by its investor partner to bet against Adani group stocks. The short-seller criticized the Securities & Exchange Board of India (SEBI) for failing to mention Kotak's name in its show-cause notice. Hindenburg suspects that SEBI may be protecting influential Indian businessmen, suggesting a lack of scrutiny. SEBI's notice, sent to Hindenburg on June 27, is seen as an attempt to intimidate the short-seller.

Bank Nifty's weekly expiry ends, Kamath jokingly shares 'obituary'

Inshorts · 8m ago

Bank Nifty's weekly expiry ends, Kamath jokingly shares 'obituary'

Nifty Bank weekly options, India's most popular derivatives contract, had its last weekly expiry on Wednesday. This comes after NSE announced plans to discontinue several weekly index derivatives in response to a SEBI regulation. Zerodha CEO Nithin Kamath jokingly shared an "obituary", which read, "In her short life, [Bank Nifty weekly] saw many ups and downs."

Zerodha not increasing brokerage charges yet: Nithin Kamath

Economic Times

Economic Times · 9m ago

Zerodha not increasing brokerage charges yet: Nithin Kamath

- Zerodha, a Bengaluru-based brokerage firm, will not increase its brokerage charges, including equity delivery which will remain free. - Stock exchanges BSE and NSE have started implementing a uniform fee structure based on transaction fees per trade, replacing the previous turnover-based fee structure. - NSE has introduced new transaction fees of Rs 2.97 per lakh of traded value in the cash market, Rs 1.73 per lakh of traded value in equity futures, and Rs 35.03 per lakh of premium value in equity options. - Zerodha expects a 10% decline in revenue due to the new fee structure, along with the increased securities transaction tax (STT) announced in the July Budget. - The STT for options has been increased to 0.1% from 0.0625%, while transaction charges have decreased to 0.035% from 0.0495%. In the futures segment, the STT has been raised to 0.02% from 0.0125%, with transaction charges decreased to 0.00173% from 0.00183%. - The impact of the changes in STT and transaction charges will be more significant for futures traders, as STT is charged on the entire contract value.

Zerodha started in 2010; It took me 20yrs to be successful, says Nithin Kamath

IndianStartupNews

IndianStartupNews · 1y ago

Zerodha started in 2010; It took me 20yrs to be successful, says Nithin Kamath

Nithin Kamath, the CEO of Zerodha, India's largest stock brokerage firm, shared insights on success and hard work in a podcast. He began trading in 1997 and started Zerodha in 2010, with significant success coming in 2016, illustrating that it took 20 years for his journey to succeed. Other guests, including Nikhil Kamath, also discussed the role of hard work in achieving success. Zerodha, specializing in discounted brokerage services, recorded substantial revenues and profits in fiscal year 2022.

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