Introduction 

Becoming an Authorised Person can be a way for individuals and eligible business entities to operate within the stock-broking ecosystem through an association with a registered stock broker. In 2026, anyone considering this business should understand the eligibility criteria, documentation, exchange approval process, compliance responsibilities and commercial structure before starting. 

The term 'sub broker' is still commonly used in business discussions, but the current exchange framework uses the term 'Authorised Person'. NSE describes an Authorised Person as a person appointed by a Trading Member who provides access to an exchange trading platform as an agent of the stock broker. citeturn0search0 

What is an Authorised Person? 

An Authorised Person works with a stock broker and operates within the scope permitted by the applicable exchange and regulatory framework. The stock broker and Authorised Person enter into a written agreement covering areas such as the scope of activities, responsibilities, confidentiality, commission sharing and termination. NSE also states that the Trading Member is responsible for the acts and omissions of its Authorised Person under the applicable framework. citeturn0search0 

Who can become an Authorised Person in India? 

NSE's current Authorised Person requirements allow eligible individuals, partnership firms, LLPs and body corporates to be appointed, subject to the applicable eligibility criteria. For an individual, NSE lists requirements including Indian citizenship, minimum age of 18, appropriate character and reputation, no relevant fraud or dishonesty conviction, at least a 10th-standard qualification, and adequate infrastructure to perform the activities. Entity applicants must meet the applicable requirements for their partners or directors and have the required infrastructure. citeturn0search0 

Step 1: Choose the right stock broker 

The first practical step is to identify a stock broker willing to appoint you as an Authorised Person. Compare the broker's regulatory standing, technology, trading platforms, product offering, client support, training, reporting and compliance assistance. The commercial agreement should also be reviewed carefully. 

Step 2: Understand the revenue-sharing model 

Revenue sharing is an important commercial consideration for an Authorised Person. The written agreement should explain how remuneration or commission is calculated, what revenue is eligible, when payments are made, how reversals or adjustments are treated and how reconciliation works. 

NSE specifically notes that the agreement between the Trading Member and Authorised Person covers commission sharing. NSE also states that an Authorised Person receives remuneration, fees, charges or commission for services from the Trading Member and should not charge amounts directly to clients. citeturn0search0 

Step 3: Prepare the required documents 

The application process generally requires identity, address, education and constitution-related documents. Depending on the applicant's structure, documents can include PAN, date-of-birth proof, residential and office address proof, education qualification proof, partnership or LLP documents, incorporation documents, and details of partners or directors. NSE provides specific checklists and formats for individual, partnership/LLP and corporate applications. citeturn0search0turn0search5 

Step 4: Complete the exchange appointment process 

The stock broker submits the Authorised Person appointment application to the relevant exchange. For NSE, the Trading Member applies online through the ENIT system, uploads the required certified documents and agreement, and tracks the application through the exchange process. Exchange approval is required for appointment. citeturn0search0 

Step 5: Set up your business infrastructure 

An Authorised Person should have suitable infrastructure to serve clients effectively. Depending on the business model, this may include office space, computers, reliable internet connectivity, communication systems, trained staff and appropriate record-keeping processes. NSE expressly lists adequate office space, equipment and manpower as infrastructure expectations for Authorised Persons. citeturn0search0 

Step 6: Follow client and compliance processes 

Client onboarding, KYC, account opening, communications and transaction-related activities should follow the stock broker's approved processes. An Authorised Person should not independently collect client funds or securities in its own name where the applicable framework requires them to be handled through the Trading Member. NSE also states that the Authorised Person cannot charge clients independently for its services. citeturn0search0 

Mirae Asset Partners as a potential partnership option 

For professionals researching how to become an Authorised Person, Mirae Asset Partners may be included in the initial comparison of available stock-broker partnership opportunities. Before proceeding, prospective partners should verify the current eligibility requirements, appointment process, technology, training, compliance support, client-service structure and revenue-sharing terms directly with the organisation. 

What should you evaluate before signing the agreement? 

  • Eligibility and exchange registration requirements 
  • Broker's regulatory status and reputation 
  • Revenue-sharing or commission calculation 
  • Payment schedule and reconciliation process 
  • Trading technology and client onboarding tools 
  • Training and compliance support 
  • Marketing and communication permissions 
  • Client-service responsibilities 
  • Business costs, taxes and infrastructure expenses 
  • Termination, transition and client-mapping provisions 

Is the Authorised Person model the same as becoming a stock broker? 

No. An Authorised Person operates as an agent of a stock broker within the applicable framework, while becoming a stock exchange Trading Member is a separate regulatory and capital-intensive route. NSE has separate membership eligibility requirements for Trading Members, including different experience, education, certification, net-worth and other criteria. citeturn0search1 

Conclusion 

To become an Authorised Person in India in 2026, the practical path is to meet the applicable eligibility requirements, choose a suitable stock broker, prepare the required documents, complete the exchange appointment process and establish the infrastructure needed to serve clients. Revenue sharing is an important part of the commercial relationship, but it should be assessed alongside technology, support, compliance responsibilities and operating costs. 

For someone evaluating Mirae Asset Partners or another stock-broker partnership, the safest approach is to review the current agreement and verify all eligibility, regulatory and commercial details directly before beginning the business.