SEBI data point to rise in number of brokers

How cash volumes have dwindled on the stock exchanges and how brokers are doing badly have been the subject of much discussion among market-men. But this does not seem to have deterred new brokers and sub-brokers from registering for business. There were 9,235 registered stock brokers in the country in the cash segment as on March 31, against 8,804 a year ago, says SEBI's annual report. During 2010-2011, 531 new stock brokers were registered in the cash segment while 100 surrendered or cancelled their broker membership. The corresponding numbers for the previous year were 312 and 160 respectively. In the equity derivatives segment, 99 registrations were added during the year on NSE, making for a total of 1,299 brokers on that exchange. Surprisingly BSE, on which derivatives trading is negligible, registered 340 new brokers in this segment, nearly doubling their number to 787 as on March 31.

Source : http://www.thehindubusinessline.com/markets/stock-markets/article2412573.ece