Business from India will move to overseas markets if unwarranted restrictions continue, says ANMI Alesia Kozik/ Pexels In a move to help the broking industry, the Association of National Exchanges Members of India (ANMI) has urged Securities and Exchange Board of India (SEBI) to reconsider the proposed 100 per cent levy on day trade peak margins as the margin is 300 per cent of what should have been the actual levy. ANMI stated nowhere in the world the clients are required to pay upfront peak margins. "Already open interest in Nifty is more in Singapore compared to India though it is a product based on Indian stocks. Indian markets are already at a disadvantage compared to SGX in terms of margins, time of trading, transaction cost and taxation. Any further unwarranted restrictions will result in export of business from India to overseas markets."