India's SEBI says charges levied by market institutions should be uniform

FILE PHOTO: A bird flies past the new logo of the Securities and Exchange Board of India (SEBI) at its headquarters in Mumbai

BENGALURU (Reuters) - India's market regulator said on Monday charges levied by market infrastructure institutions such as stock exchanges, clearing corporations and depositories should be uniform and not based on volumes.

Exchanges often charge a lower fee to brokers if they generate high volumes, contributing to a surge in trading across segments like derivatives.

Asking exchanges to stop this practice is part of a wider set of measures being discussed by the Securities and Exchange Board of India to curb the frenzy in India's derivative markets.

(Reporting by Chris Thomas, Ira Dugal; Editing by Saumyadeb Chakrabarty)