Small brokers are in for a tough time as they will have to grapple not only with working capital issues but will also have to funnel in their own funds, in case they were using clients funds for prop or arbitrage trading
However, the NSE rolling back the 6 percent hike in transaction charges will provide some respite, as otherwise it would’ve been a double whammy, feels Prakarsh Gagdani, CEO, 5paisa.com
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The boards of 5paisa Capital Ltd and IIFL Securities Ltd today approved the transfer of IIFL Securities Online Retail Trading Business to 5paisa Capital, subject to statutory and regulatory approvals.