SEBI has vide its circular no. CIR/MRD/DP/26/2010 dated August 27, 2010, permitted Smart Order Routing in Indian Securities Market. Further it had vide its circular no. CIR/MRD/DP/36/2010 dated December 09, 2010 issued clarifications regarding SOR.
Procedure to apply for SOR
Members are required to submit documents as per Part I: Checklist for Smart Order Routing (SOR) Facility (Ref: page number 33 of Master Circular Computer to Computer Link (CTCL) dated December 31, 2012) and shall follow the procedure mentioned in Paragraph 3 of Circular No: MCX-SX/CTCL/1477/2013 dated September 30, 2013.