This has reference to the Exchange notice 20200210-48 dated Feb 10, 2020 and 20230127-8 dated January 27, 2023 on reporting of day wise Bank balances by members to Exchange through Application Programming Interface (API) on daily basis.
Exchange vide Notice 20201229-32 dated December 29, 2020, 20210106-36 dated January 06, 2021 and 20210108-48 dated January 08, 2021 advised members to submit Undertaking/Authorization to Exchange to access the information/statements pertaining to all bank accounts, maintained by members, opened/reported to the Exchange from time to time, from Banks or through a financial technology solution provider authorized by the Exchange. Further, Exchange also advised members to submit written confirmation to be obtained from certain Banks as specified in point (ii) & (iii) of the Exchange Notice 20220316-9 dated March 16, 2022 that Bank shall submit day wise account number wise end of day clear running balances and/or information/statement of all bank accounts maintained with such bank(s) to Exchange on daily/weekly basis as may be required by the Exchange.
In this regard, Exchange has now started receiving information pertaining to bank accounts maintained by the trading members from the Banks as specified in the aforesaid Notice dated March 16,2022. In view of the same and in order to ease out the compliance burden of the members, Exchange has decided to discontinue the aforesaid requirements of reporting of Bank Account Balances by Members from October 30, 2023 and accordingly, period of last submission which would be applicable to member for daily Bank Balance reporting shall be October 28,2023 due date of the same shall be October 30, 2023.
The requirement of reporting aforesaid day wise Bank Balances was introduced with an objective to monitor the availability of client assets with member in accordance with SEBI guidelines on Enhanced supervision of Stockbroker. Hence, Members are requested to note that it shall be their responsibility to ensure that their Banks submit daily Bank balances on T+1 basis to Exchange.
Members are advised to take note of the Notice and strictly comply.
In case of any clarifications, members may contact us details given as under:
For and on behalf of BSE Ltd.
Sandeep Sharma Kalpesh Ganger
Asst. Gen. Manager Manager
Inspection Inspection
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