This new initiative is in line with SEBI’s initiative for ease of individual investors entering Equity Cash market. SEBI has initiated SARAL Account Opening Form (SARAL AOF) in a circular dated 4th March, 2015, wherein an individual resident investor can open this account through SARAL Account Opening Form. This form can be filled by any resident individual investors who wishes to be a part of the equity market.
SARAL AOF can be filled by submitting only one documentary proof of address, which can either be correspondence or permanent address. The form has been made available on BSE website for easy access of investors.
This service will allow investors to participate in the Equity Cash segment with filling of the SARAL AOF and submitting one proof of address (correspondence or permanent). Investors whose current residence is different from the proof of address submitted, need to only give a self-declaration on which all correspondence will be made by the intermediary with the investor.
The investors who open account through SARAL AOF will also have the option to obtain other facilities, such as internet trading, margin trading, derivatives trading and use of Power of Attorney, whenever they require, on furnishing of additional information as per prescribed regulations/circulars.
BSE (formerly Bombay Stock Exchange Ltd.) – Established in 1875, BSE, is Asia’s first Stock Exchange and one of India’s leading exchange groups and has played a prominent role in developing the Indian capital market. BSE is a corporatized and demutualised entity, with a broad shareholder-base which includes two leading global exchanges, Deutsche Bourse and Singapore Exchange as strategic partners. BSE provides an efficient and transparent market for trading in equity, debt instruments, equity derivatives, currency derivatives, interest rate derivatives, mutual funds and stock lending and borrowing. BSE also has a dedicated platform for trading in equities of small-and-medium enterprises (SME).
BSE provides a host of other services to capital market participants including risk management, clearing, settlement, market data services and education. It has a global reach with customers around the world and a nation-wide presence. BSE systems and processes are designed to safeguard market integrity, drive the growth of the Indian capital market and stimulate innovation and competition across all market segments. Indian Clearing Corporation Limited, the wholly owned subsidiary of BSE, acts as the central counterparty to all trades executed on BSE platform and provides full innovation guaranteeing the settlement of all bonafide trades executed on the BSE Platform. BSE Institute Ltd, a fully owned subsidiary of BSE, runs one of the most respected capital market educational institutes in the country. Central Depository Services Ltd. (CDSL), a subsidiary of is one of the two central depository services in India.