Remisier Meaning

A remisier is meant to be the agent of the stock broking company. Their major role is to find and acquire new clients for the broker. They handle the dealer’s transaction and in return, they receive a specific percentage of brokerage as their commission for every transaction handled by them. Although they are often confused with a sub broker, a remisier has different roles and responsibilities to perform.

The Role of Remisier in Stock Market

According to stockbroking companies, the remisier allowed them to generate additional trading volumes and revenues without having the requirement to increase a fixed cost base or the need to build a customer base directly.

According to the point of view of a remisier, they have to bear the additional financial burden or recompense the stock broking company from his or her operational cost. Is weighted by the potential for the substantial commission income through his or her 40% share of the trading commission. In substitute, a remisier in stock market remains responsible for his or her own client relationships.

A remisier is said to be responsible for any of the loss, that occurred by the stock broking company arising from any security transaction which was done under it.

A remisier has an influencing position in KLSE and SES, not because of the increasing distribution and additional liquidity to the market but also because of their role in educating and advising the retail investors and the public on a large scale.

How to be a Remisier in India?

Generally, the procedure to be a remisier in India is easy. The only thing that's quite complicated is the verification process before the application. If the stockbroker finds any in appropriation he or she can cancel your application?

The entire process is performed under the guidance of SEBI (Securities Exchange Board of India). You must have the required documents and qualities for your job.

Documents Required to be a Remisier

The documents that are required in the process of registering for a remisier are listed below:

• PAN card
• Aadhar card
• Academic certification
• Bank proof
• Income proof (cancelled cheque)
• Address proof

These are the basic proof that a person has to represent for registering as a remisier. BUT one thing that's mandatory is that remisier should be enlisted by anyone stock exchanges: NSE or BSE.

Eligibility Criteria for Being a Remisier

The education and other requirements to be a remisier are :

• The individual should definitely have good potential and communication skills.
• He should be above 18 years of age.
• He should have completed higher secondary certificate (HSC).
• Some brokers may ask for experience of 1 year or 2 years in any financial field.

Apart from these levels, the financial condition is also a topic to be focused on while being a remisier.

The Process to be a Remisier

The whole process one should follow to be a remisier is discussed below:

• Visit the official website of the selected stockbroker.
• Select the "become a partner" tab.
• Then fill the basic details asked in the form such as, name, email id, contact number and address etc.
• Click on the submit option.
• After that process, they will contact you.
• Give them the details they ask for.
• They would ask you to provide documents for the member verification process.
• Post your tag or the unique partner ID will be generated, which can take up to 3 days as it's dependent on the broker you choose.

Broker vs Remisier

Stock Broker

A stockbroker is a person who is a beneficial owner of the stock broking house that is affiliated with SEBI (Securities Exchange Board of India). The stockbroker must hold the SES seats.

Remisier

The remisier is a self-employed person attached to the broking house. The remisier income is based on the commission from trades that he or she handles. The remisier also rents for the working space that he or she takes from the broking house, by using its administrative service as a fee. And provides a security deposit with the house and guarantees the payment from the client as well.

Wrapping Up

Remisier can be said as the agent from the stockbroking company and its work is to handle the deals of the broker and is paid by the deals he handles.

The features or services that a remisier provides to the stock broker are also explained.

The process for being a remisier is also explained. That's generally simple only till the verification after the application.

Then we got to know about the documents that are required: Aadhar card, PAN card, educational certificates and one should be registered from anyone NSE or BSE.

Eligibilities for being a remisier are they should not be under 18 years. One should have good potential and communication skills. The Financial conditions of a remisier should also be fine. Some brokers even ask for experienced people from any financial field.

Another thing we got to know was the process for being a remisier, visit the official website of the broker, select the become a partner tab, fill in the basic details, click on submit option, if you a receive a call from them provide them the required documents, within three days you will be able to use your remisier unique ID.

Then we discussed the difference between the remisier and broker, the broker is the sole independent person to perform trade but remisier is a kind of agent of the dealer, who's not independent to work as a broker.