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Asked a question 2 years ago

Does FYERS intend on becoming a clearing member ever? You say you are rivals with Zerodha but Zerodha levies no clearing charge. Not complaining but you should look into it.

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@Arkaprabha Bhattacharya42, I didn't say we're rivals :-). In fact, they are friends of mine and we're a part of the same ecosystem catering to our respective clients that's all. Competition is part and parcel of life. We started 5-6 years later in 2015 while Zerodha had a head start. 

W.r.t clearing, we believe it's important to diversify risk by dealing with well-established intermediaries in the space. Currently, we clear with the most renowned clearing members, ICICI Bank & Globe Capital (One segment). So far, it has helped us provide relatively higher leverage to our clients. A small fee is levied to compensate for the risk undertaken & services rendered. We may explore becoming a clearing member in the future since leverage is becoming standardized as per the new regulations. We'll see how it plays out. 

 

 

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