Dated: 20th April 2010

 

NOTICE

 

 

Re: Fine for maintaining inadequate balance in HDFC Bank Settlement Account for funds Pay-In CSE-BSE arrangement

 

 

Trading Members of the Exchange participating in trading in BSE-CSE arrangement are aware that normally funds pay-in in respect of BSE transactions is carried out by the Exchange through HDFC bank on T+1 day basis and shortfalls if any are recovered on T+2 day by 9.00 A.M.

 

It is observed that some trading members are not making arrangements for their pay-in obligations for BSE segment well in time which is creating problem to the trading members and to the Exchange, as BSE starts recovering the pay-in dues at sharp 9.00 A.M. 

 

In view of the above, Trading Members are requested to adhere to the pay-in time schedule and the deferred pay-in dues if any should be cleared latest by 9.30 A.M. on T+2 day.  

 

The Exchange has decided impose fine at 0.25% of pay-in short amount subject to a minimum of Rs. 500/- for each instance of maintaining inadequate balance in the settlement account for meeting their pay-in dues relating to BSE segment to the Exchange by 9.30 A.M. on T+2 day.  This imposition of fine will be applicable from 3rd May 2010.

 

 

DGM (MOP & Surveillance)