Upstreaming of clients' funds: SBs/CMs must transfer all client monies to CCs via cash, liened FDRs, or pledged MFOS units. All client funds held by Stock Brokers and Clearing Members must be upstreamed to Clearing Corporations as cash, lien-marked FDRs meeting CC exposure norms and pre-terminable within one year, or as pledged dematerialized units of Mutual Fund Overnight Schemes held in a dedicated Client Nodal MFOS Account and pledged through the prescribed pledge/re-pledge mechanism; designated Up Streaming and Down Streaming Client Nodal Bank Accounts must be used with specified cutoff times for upstreaming and release, permitted withdrawal scenarios are limited, CCs must enable collateral utilisation and margin adjustment, and bank-CMs and proprietary funds are excluded.
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.
Upstreaming of clients' funds: SBs/CMs must transfer all client monies to CCs via cash, liened FDRs, or pledged MFOS units.
All client funds held by Stock Brokers and Clearing Members must be upstreamed to Clearing Corporations as cash, lien-marked FDRs meeting CC exposure norms and pre-terminable within one year, or as pledged dematerialized units of Mutual Fund Overnight Schemes held in a dedicated Client Nodal MFOS Account and pledged through the prescribed pledge/re-pledge mechanism; designated Up Streaming and Down Streaming Client Nodal Bank Accounts must be used with specified cutoff times for upstreaming and release, permitted withdrawal scenarios are limited, CCs must enable collateral utilisation and margin adjustment, and bank-CMs and proprietary funds are excluded.
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