Meeting of all the Stock Exchanges- January 17, 2001

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....g Director of all the stock exchanges Sir/ Madam Meeting of all the Stock Exchanges- January 17, 2001 SEBI had convened a meeting of all the stock exchanges on January 17, 2001. Pursuant to the discussions in the meeting, the following decisions have been taken : 1. Client Code Vide circular no. SMDRP/POLIC/CIR-33/2000 dated July 27, 2000 all the stock exchanges were directed to mod....

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....ges which do not offer these facilities, but have active trading, shall have to closedown trading from March 31, 2001, in case, they fail to comply with this directive by that date. c. The stock exchanges which currently do not have any trading, shall implement the requirement of client code before trading commences at the exchange. 2. MCFS and ALBM margins The margins on MCFS and A....

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....period settlement. 4. Use of Secondary Market for Primary Issues (a) SEBI had notified guidelines for use of secondary market route for initial public offers in "Guidelines for offering securities in public issues through the Stock Exchange mechanism. DIP (Compendium) Series Circular No. 5 dated November 30, 2000". The copy of the guidelines are enclosed herewith. These guidelines will also ....

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.... SMDRP/POLICY/CIR-33/2000 dated July 27, 2000, it was directed that all the clients, excluding FIs, FIIs, MFs shall maintain a deposit with the broker in the form of cash, bank guarantees, FDRs or approved securities which shall not be less than 10% of the net open positions of the client at any point of time. To ensure compliance with this requirement, the stock exchanges shall obtain an auditors....