This has reference to SEBI Circular No. SEBI/HO/MIRSD/DOP/P/CIR/2022/101 dated July 27, 2022 and Exchange Notice No. 20220727-48 dated July 27, 2022 regarding “Settlement of Running Account of Clients’ Funds lying with Trading Member (TM)” and subsequent FAQs notified vide Exchange Notice no. 20220923-62 dated September 23, 2022. As per said notices, members are required to carry out the settlement of running account of clients’ funds on the first Friday of the Month/Quarter as per the preference opted by the client and if first Friday is a trading holiday, then such settlement shall happen on the previous trading day.
In this regard, Members are requested to note that first Friday of the Quarter April – June, 2023 (i.e. April 7, 2023) being a trading holiday, the settlement of running account of client’s funds in accordance with aforesaid notices shall be carried out by members on the previous trading day i.e. April 6, 2023 (Thursday).
Further, Members’ attention is also drawn to Exchange Notice no. 20221228-55 dated December 28, 2022 & 20230105-59 dated January 05, 2023 on reporting requirement on settlement of running account of clients’ funds lying with Trading Member (TM) wherein members have been advised to submit the summary of settlement of clients’ funds and UCC wise settlement details to the Exchange within the prescribed timelines through the online facility as made available by the Exchange.
Based on the data submitted by the members in the aforesaid submissions for the last quarter January – March 2023, it has been observed by the Exchange that values of certain data points such as value of funds retained, value of funds settled etc. were incorrectly reported by certain members. In view of the same, clarifications/guidelines on data points being reported under aforesaid submissions are provided to members in the enclosed Annexure 1. Members are requested to ensure the same while making these submissions to the Exchange.
All Members are advised to take note of the same and strictly comply.
In case of any clarifications, members may contact us details given as under:
For and on behalf of BSE Ltd.
Hiteshkumar Desai Kalpesh Ganger
General Manager Manager
Brokers’ Supervision Brokers’ Supervision
|