Sebi urged to declare capital markets as ‘essential services’

Mumbai: Stock brokers have sought urgent intervention of market regulator Sebi to declare capital markets as essential services, on a par with the status they enjoy in Maharashtra, after several states refused to allow brokers and exchange officials to travel.

Although Maharashtra has declared a total lockdown, Mantralaya has issued clarifications to the authorities to allow employees working in stock exchanges and broking offices to travel. No such clarifications or guidelines are being issued by other state governments, the Association of National Exchanges Members of India (ANMI) said in a letter to Sebi.

“State governments of Tamil Nadu, Rajasthan and Delhi have extended the Janata Curfew up to March 31, 2020. However, there are no explicit guidelines or notifications issued by the state governments exempting capital markets and stock brokers’ offices from the total lockdown.”


Sebi and exchanges have permitted trading via terminals from various locations. This relaxation is taking care of front office staff of broking offices to work from home to half their potential. But staff serving back offices, servers and operational dependencies cannot operate from home, according to brokers.

Thus, it is imperative to declare capital markets/stock broking services as essential services, said brokers.