Mumbai, Jan. 9 -- The Securities and Exchange Board of India (SEBI) on Friday announced a major overhaul of its framework for addressing technical glitches in stock brokers' electronic trading systems, aiming to reduce compliance burden and improve ease of doing business for market intermediaries.

The framework is now applicable to stock brokers having more than 10,000 registered clients. As a result of new eligibility criteria approximately, 60% of stock broker would be moving out of this framework and consequently reduce their overall compliance requirement, SEBI said.

The revised framework simplifies the reporting requirement by providing the extension of time for reporting of technical glitches (from one hour to two hours), consider...