Diversified Revenue Streams Shield Broking Firms Against Policy Shifts: Crisil

• Diversification is a critical strategy for broking firms to withstand policy changes, as per Crisil.
• Proposed STT hike on derivatives and SEBI regulatory changes impacted market, causing 25% drop in ADTO volumes.
• Diversified capital market players showed higher stability, with two-thirds of revenue from non-broking activities.
• Traditional broking firms saw a 15% revenue drop due to lower market activity and streamlined customer charges.
• Proprietary trading firms faced a 25% revenue decline due to reduced weekly expiry products and fewer arbitrage opportunities.