Smart Order Routing

SEBI has vide its circular no.MCX-SX/CTCL/925/2012 dated December 31, 2012, MCX-SX/CTCL/1883/2014 dated April 11, 2014, MSE/CTCL/17639/2025 dated August 12, 2025. MSE/CTCL/18976/2026 dated April 30, 2026. permitted Smart Order Routing in Indian Securities Market. Further it had vide its circular no. MCX-SX/CTCL/925/2012 dated December 31, 2012, MCX-SX/CTCL/1883/2014 dated April 11, 2014, MSE/CTCL/17639/2025 dated August 12, 2025. MSE/CTCL/18976/2026 dated April 30, 2026. 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, MCX-SX/CTCL/925/2012 dated December 31, 2012, MCX-SX/CTCL/1883/2014 dated April 11, 2014, MSE/CTCL/17639/2025 dated August 12, 2025. MSE/CTCL/18976/2026 dated April 30, 2026.
Demo of software is provided to Exchange.
Exchange provides approval to the member.



