Client code mandatory: exchanges risk suspension of MCFS and ALBM if noncompliant, with system calculated margins. SEBI requires mandatory implementation of a client code at broker level with phased suspension of MCFS/ALBM or trading for noncompliant exchanges; MCFS and ALBM margins must be system-calculated rather than self-certified. The circular extends CFRS, ALBRS and CNS facilities to voluntary rolling settlement for eligible scrips, permits conditional use of Trade/Settlement Guarantee Funds for primary issues with exchange-wide application, exposure limits and a minimum cash margin, mandates minimum margin deposits and quarterly auditors' certificates from brokers and sub-brokers, allows membership buy-backs under existing law, and requires a trading-system icon to show prior-day buy-back positions.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Client code mandatory: exchanges risk suspension of MCFS and ALBM if noncompliant, with system calculated margins.
SEBI requires mandatory implementation of a client code at broker level with phased suspension of MCFS/ALBM or trading for noncompliant exchanges; MCFS and ALBM margins must be system-calculated rather than self-certified. The circular extends CFRS, ALBRS and CNS facilities to voluntary rolling settlement for eligible scrips, permits conditional use of Trade/Settlement Guarantee Funds for primary issues with exchange-wide application, exposure limits and a minimum cash margin, mandates minimum margin deposits and quarterly auditors' certificates from brokers and sub-brokers, allows membership buy-backs under existing law, and requires a trading-system icon to show prior-day buy-back positions.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
