File photo of the Bombay Stock Exchange. (Reuters)
New Delhi: Leading bourse BSE on Friday asked stock brokers operating in the cash segment to submit details of total amount funded to clients during December on the exchange’s electronic filing system.
According to BSE norms, brokers have to provide information on amount funded as margin obligation on behalf of clients, funding related to settlement obligations for institutional and non-institutional clients, among others.
“All the trading members who were active during the month of December, 2016 are required to upload client funding details… through BEFS (BSE Electronic Filing System),” BSE said in a circular.
“Client funding option for the month of December, 2016 would be enabled in the BEFS from January 1, 2017 till January 8, 2017,” it added.
BSE also said that trading members who do not fund the clients have an option of submission of undertaking in the BEFS.
“In case a trading member chooses to submit an undertaking, the member is not required to upload NIL funding every month and the system will treat the funding as nil till he revokes the undertaking,” the exchange said.
BSE said if a trading member does funding to the clients subsequently, he would be required to revoke the undertaking through option available in the BEFS and then upload the client funding details.
Source: News18