SEBI has advised the Exchange to ensure that Trading Members implement following functionality on their trading systems for the benefit of and ease of trading for the clients trading across the Exchanges:
1. Members to provide interoperability to all clients facilitating release of client’s margin intra-day and not withholding till End of the day i.e., when a client buys on Exchange X and sells on Exchange Y, the margin should get released immediately after sell.
2. Members to provide all trading products across segments across exchanges (based on their membership) on their trading platforms including Web & Mobile. For eg. Member A is having membership of multiple Exchanges for all segments, then the member to display all products of such Exchanges across all segments and not for a specific segment/product.
3. At the time of an order entry, the Member’s trading platform including Web & Mobile to display the prices of selected scrip/contract from all the exchanges (where the member is active) to facilitate execution of orders at best price.
The timeline for providing the aforementioned functionalities is given below:
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Type of Members
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Timeline
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Qualified Stock Brokers (QSBs)
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October 1, 2024
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Members other than QSBs
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December 1, 2024
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All trading members are requested to take note of the above and ensure compliance.
In case of any clarification required you may contact:
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Contact Nos
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Email Id
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022-69158540
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Bse.inspection@bseindia.com
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022-45720640
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022-45720440
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For and on behalf of BSE Ltd.
Hiteshkumar Desai Kaustubh Mundada
General Manager Asst. General Manager
Inspection Inspection
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