For appointment of Sub-Broker, the member has to submit application form as per format of the Exchange along with relevant processing fees. The application form will be scrutinized by Exchange and if found to be in order, the applicant will be granted recognition by the Exchange as sub-broker of the relevant member and then the application will be forwarded to SEBI for registration of Sub-Broker. On approval by SEBI the Exchange will inform the same to the member. Members shall permit the applicant to commence its activities as a sub-broker only after receipt of certificate of registration from SEBI.