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Stock brokers seek relaxation from collateral norms
After a meeting with officials of the Securities and Exchange Board of India (Sebi) and the National Stock Exchange (NSE), brokers are expecting the diktat that asks them not to provide client securities as collateral, to be relaxed. NSE, in a clarificatory circular on April 26, had said in the equity and currency derivatives segment brokers will need to deposit their own shares with the clearing corporation.