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Execution Only Platforms (EOPs) are digital platforms which facilitate transactions in Mutual Funds schemes’ direct plans without offering any investment advice. Numerous EOPs have emerged due to the popularity of direction plans since they are considered to be more cost effective as compared to the regular plans.
In order to run an EOP, Execution Only Platform Registration from SEBI and AMFI is mandatory. AMFI full form is Association of Mutual Funds in India. It is a self-regulatory organization for the mutual fund sector in India. If you want to get Execution Only Platform Registration, Registrationwala can help you to obtain it in a smooth and timely manner.
SEBI describes Execution Only Platforms or EOPs as digital or online platforms which facilitate transactions such as subscription, redemption, and switch transactions in direct plans of mutual fund schemes.
There are two categories of EOP namely Category 1 EOP and Category 2 EOP. Any entity that wants to operate as an EOP can choose to operate under either of these two categories.
Category 1 EOP: In order to facilitate mutual fund transactions, Category 1 EOP must register with the Association of Mutual Funds in India (AMFI), serve as an agent of AMCs, and interface its systems with AMCs and/or RTAs that have been authorized by such AMCs.
For an entity to be considered as Category 1 EOP, it must obtain AMFI registration. The entity should be a body corporate. It can act as an aggregator of the transactions in direct plans of Mutual Funds’ schemes and give services to investors or other intermediaries.
Category 2 EOP: Category 2 EOP must register as a stock broker, in accordance with the SEBI (Stock Brokers) Regulations 1992, within the EOP segment of the stock exchanges. It must also act as an investor's agent and only do business on the platforms made available by the stock exchanges.
For an entity to be considered as Category 2 EOP, it should be a body corporate. SEBI registration for EOP is mandatory for EOPs in this category. Unlike entities that fall under category 1 EOP, category 2 EOPs cannot act as an aggregator of the transactions in direct plans of MF schemes and must provide direct services to investors.
Entities that want to seek registration as Execution Only Platforms SEBI must ensure their compliance with the requirements mentioned below:
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An entity that wants to apply for EOP Registration must be in possession of the following documents:
Category 2 EOPs must obtain registration as Stock Brokers from SEBI under the EOP segment of Stock Exchanges. For stock broker registration, the applicant must file an application using Form A of Schedule I and send it to the Board through the appropriate stock exchange. EOPs falling under this category must follow various requirements applicable to stock brokers.
To obtain AMFI registration as an EOP under Category 1 EOP, the entity must follow the steps mentioned below:
Step 1: To obtain registration as an EOP, first, the entity must make an online payment of Rs. 2,36,000 through NEFT/RTGS to the Association of Mutual Funds in India. This includes the Application Processing fee ₹1,00,000 +GST @18% and AMFI Registration fees ₹1,00,000 + GST @ 18%.
Step 2: Once the payment is made and the UTR number is obtained, a user ID using a valid email ID of the authorized person/applicant must be created along with the password. Afterwards, a link will be sent to the email ID provided for creating the user ID.
Step 3: After receiving the email, the applicant must click the link to finish filling out the online registration form, submit it, and upload the necessary files.
Once the duly completed application for EOP Registration has been submitted to AMFI along with all the necessary documents, AMFI will carefully review the application to ensure that the applicant meets the eligibility criteria.
If the applicant satisfies all the eligibility requirements, including the fit and proper person requirements of SEBI, the AMFI registration for Category 1 EOP will be granted to the applicant and the same shall be communicated through email.
Choosing Registrationwala for assistance in EOP Registration will ensure that the registration process will be smooth and hassle free. Here are a few reasons why you should choose us:
Industry Knowledge: Registrationwala has a team of EOP registration consultants who have in-depth knowledge and experience when it comes to SEBI and AMFI registration processes for EOPs. Due to our expertise, our clients receive accurate guidance.
Proven Track Record: Registrationwala has been around for more than a decade and helped many multiple clients to obtain licenses and registrations for various industries successfully. We are a trusted partner for individuals and firms seeking various licenses and registrations, including execution only platform registration.
End-to-End Assistance: Registrationwala’s EOP consultants assist the clients from the initial application to final approval. We provide thorough support at every stage to ensure a smooth and hassle free registration process for our clients.
Customized Solutions: At Registrationwala, we understand that each client’s needs are unique. This is why we offer tailored solutions to cater the specific requirements of our clients and increase the chances of successful registration.
Error-Free Documentation: Our EOP consultants pay close attention to detail when it comes to preparing and reviewing documentation. This reduces the likelihood of rejections or requests for additional information which helps to save time and effort of our clients.
Transparent Communication: Our EOP consultants at Registrationwala make sure that our clients are kept informed about the progress of their application through regular updates. This helps to ensure transparency and peace of mind. Our dedicated support team is readily available to address any queries or concerns of our clients. To maintain smooth communication, our dedicated support team provides prompt and clear responses.
If you’re ready to apply for EOP Registration, get in touch with Registrationwala now for assistance!
Q1. What is an Execution Only Platform?
A. Execution Only Platform, as SEBI defines, is a digital or online platform which facilitates transactions like redemption, subscription and switch transactions in direct mutual funds schemes’ plans.
Q2. Who Grants Category 1 EOP License?
A. Category 1 EOP registration or license is granted by the mutual fund industry body known as Association of Mutual Funds in India (AMFI).
Q3. Who grants Category 2 EOP License?
A. Category 2 EOP license is granted by the Securities and Exchange Board of India (SEBI). For the grant of the license, the applicant entity needs to register as a stock broker with SEBI. Category 2 EOPs are only permitted to operate through stock exchange platforms.
Q4. What is the minimum net worth requirement for EOP?
A. The minimum net worth requirement for EOP is Rs.1 crore.
