MEMBERSHIP DEPARTMENT

 

CIRCULAR NO.517  

 

 

NSE/MEM/7400                                                                                         April 20, 2006

 

 

To All Trading Members

 

Sub :  Location of trading terminal

 

With reference to the Exchange Circular No.282, download ref.no.NSE/MEM/3574 dated August 29, 2002 and subsequent circulars issued on the above subject, the following is reiterated:

 

The terminals of trading members in the Capital Market segment shall be located only in their main or branch offices or in the offices of registered sub brokers.  All terminals of trading members in the Futures and Options segment shall be located only in their main or branch offices or in the offices of approved authorised persons (provided the authorised person is a registered sub broker in the Capital Market segment or applied for registration as sub broker in the Capital Market segment).  For ample clarity, paragraph 4 of the Circular No.282 (download ref.no:NSE/MEM/3574) dated August 29, 2002 hereby stands deleted.  

 

Trading members are required to further comply with the following:

 

  1. The above conditions will apply to all terminals irrespective of the mode of connectivity like VSAT, lease line, CTCL, etc. and irrespective of the use of the terminal i.e., trading, testing, view only, administration etc. The status of the office [main/branch/registered sub broker/approved authorised person (only for F&O segment)] where the terminal is located and other required particulars shall be uploaded to the Exchange in the manner, which is being provided by the Exchange through a separate circular.

 

  1. Trading members shall note that if any terminal is found located at a place other than what is declared to the Exchange pursuant to the above, in violation of this circular, then a fine @0.25% calculated on the value of trades done through the location during the period of violation subject to a minimum of Rs.25000 per location, shall be levied as fine. Moreover, it is re-iterated that the trading members shall continue to be responsible for all obligations arising out of their terminals.

 

For National Stock Exchange of India Ltd.

 

Sd/-

 

S. Rajagopalan

Assistant Manager