February 21, 2011
N O
T I C E
Trading members are hereby informed that the Exchange
earlier notice dated 8th
March 2005 regarding Client Code Rectification. With effect form 9th
March, 2005, a charge will be imposed @ Rs. 500/- per rectification of client
code in an order. This rate will be applicable for the first three cases in
respect of any member. Thereafter the charge will be applicable at a enhanced
rate of Rs.1000/- per rectification of client in a order.
Further trading members are hereby informed that the
Exchange has received a Circular from SEBI Ref. No.CIR/DNPD/01/2011 dated January
03, 2011. The contents of the said Circular are given here under for
information of the members.
Quote: -
CIR/DNPD/01/2011
January 3, 2011
To
Recognised Stock Exchanges of India
Dear Sir,
Sub:
Modifications to client code post trade execution
1. Stock Exchanges can permit
modifications to client code post trade execution only in case of genuine error
or wrong data entry made by trading members. This facility has been provided
for the smooth functioning of the system and is expected to be used more as an
exception rather than routine. Accordingly, Stock Exchanges are advised to:
• Set objective parameters for identification of client code
modifications arising as a result of genuine error or wrong data entry. These
objective parameters should be approved by the Governing Board of the Exchange
and disclosed to the trading members.
• Impose
monetary penalty in addition to disciplinary action against members who do not
meet the laid down objective parameters.
• Include
verification of client code modification as a reporting item in internal audit
report of the trading members.
2. This circular is issued in exercise
of the powers conferred under Section 11 (1) of the Securities and Exchange
Board of India Act 1992, read with Section 10 of the Securities Contracts
(Regulation) Act, 1956 to protect the interests of investors in securities and
to promote the development of, and to regulate the securities market.
3. The circular shall come into force from the date of the
circular.
4. This circular is available on SEBI
website at www.sebi.gov.in, under the category “Derivatives- Circulars”.
Yours faithfully,
Sujit Prasad
General Manager
022-26449460
sujitp@sebi.gov.in
Unquote :
Members are requested to note that the aforesaid
guideline of SEBI and act accordingly.
General Manager (Operation)