Attention of the stock brokers is drawn to Exchange notice no. 20221021-42 dated October 21, 2022 regarding “Trading in Live Environment for Electronic Gold Receipts (EGR) Segment”
Stock brokers are advised to ensure following compliance requirements.
1. Registration of client codes:
Stock brokers are advised to upload all the client codes for execution of trade in the EGR Segment. Trades will be allowed to be executed only in the registered client codes in the EGR Segment. Further as per Exchange notice no. 20220623-58 dated June 23, 2022, only Compliant UCCs ONLY will be allowed to place orders in EGR Segment.
With the introduction of EGR Segment, an additional segment has been added in the existing file format for uploading UCC. Please refer Exchange notice no. 20220518-30 dated May 18, 2022 with regards to batch upload file format.
2. Client code modification:
The provision to modify the client codes for the trades in the EGR segment shall be available to the stock brokers in RTRMS to rectify genuine errors. Please refer Exchange notice no. 20110706-1 dated July 6, 2011, 20110729-24 dated July 29, 2011 and 20110826-4 dated August 26, 2011.
1. Modifications of client codes of non-institutional trades would be allowed only to rectify a genuine error in entry of client code at the time of placing/ modifying the related order.
2. Following shall be classified as genuine errors:
a. Error due to communication and / or punching or typing such that the original client code / name and the modified client code / name are similar to each other
b. Modification within relatives (‘Relative’ for this purpose would mean as defined under Companies Act, 2013)
3. Error Account
a. Shifting of trades to the ‘Error account’ of broker would not be treated as modification of client code, provided that trades in ‘Error account’ are subsequently liquidated in the market and not shifted to some other code.
b. Further, broker shall disclose the codes of accounts which are classified as ‘Error accounts’ to the Exchanges. Each broker should have a well-documented error policy approved by the management of the broker.
4. Exchange shall levy the below penalty on the trading members w.r.t. client code modifications done in EGR segment to client codes other than Error account
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‘a’ as % of ‘b’
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Penalty as % of ‘a’
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≤ 5
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1
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> 5
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2
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Where
a = Value (turnover) of non-institutional trades where client codes have been modified by a trading member in a segment during a month.
b = Value (turnover) of non-institutional trades of the trading member in the segment during the month
3. Registration of location id’s:
Stock brokers must ensure to register the trading terminals used for trading in EGR segment as per notice no. 20120816-19 dated August 16, 2012.
In case of non-registration of the terminal location details to the Exchange before placing the orders, penalty will be levied by Exchange as per notice no.: 20070517 - 22 dated May 17, 2007.
Further, please refer Exchange notice no. 20180925-4 dated September 25, 2018 according to which, 6 provisional files are being downloaded to stock brokers in the extranet.
The timing for the download of UNLC file is given below:
UNLC1 : 11:30am (orders upto 11:00 am)
UNLC2 : 13:30pm (orders upto 01:00 pm)
UNLC3 : 15:30pm (orders upto 03:00 pm)
UNLC4 : 17:30pm (orders upto 05:00 pm)
UNLC5 : 20:30pm (orders upto 08:00 pm)
UNLC6 : 00:20am (orders upto 23:59 pm)
Further the LC file will be downloaded to the stock brokers on next trading day. Records appearing in LC file are subject to penalty as per Exchange notice no. 20070517 - 22 dated May 17, 2007
The name and path of the UNLC files downloaded to stock brokers are as below:
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SL. NO.
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FILENAME
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EXTRANET PATH
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1
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UNLC<1/2/3/4/5/6>_EQ_DDMMYY
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/EQ/TRANSACTION/MMM-YYYY/DD-MM-YYYY
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2
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UNLC<1/2/3/4/5/6>_FNO_DDMMYY
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/FNO/TRANSACTION/MMM-YYY/DD-MM-YYYY
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3
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UNLC<1/2/3/4/5/6>_CDX_DDMMYY
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/CURRENCY/TRANSACTION/MMM-YYY/DD-MM-YYYY
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4
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UNLC<1/2/3/4/5/6>_BCX_DDMMYY
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/BCX/TRANSACTION/MMM-YYY/DD-MM-YYYY
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5.
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UNLC<1/2/3/4/5/6>_EGR DDMMYY
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EGR/TRANSACTION/MMM-YYY/DD-MM-YYYY
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4. High Order to Trade ratio in Algorithmic Trading in EGR Segment:
The penalty norms /disciplinary action for High Order to Trade ratio in Algorithmic Trading in EGR Segment will be applicable as per Exchange notice no. 20200714-51 dated July 14, 2020.
Stock brokers may please note that an hourly alert on algo order to trade ratio in EGR segment will be reflected in the E boss system w.e.f. October 24, 2022.
Alerts & Events à Member Surveillance Alerts àExchange àEGR àALGO ORDER TRADE RATIO
Further an hourly, daily and monthly file of High Order to Trade ratio in Algorithmic Trading in EGR will be available to stock brokers through extranet. Path and name of files are as given below:
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Path
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/EGR/TRANSACTION/MMM-YYYY/DD-MM-YYYY/
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Hourly File
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EGR_HA_H<HH>_DDMMYYYY.XXXX (where XXXX is member code, <HH> is 11,12,13 etc)
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End of Day (EOD) File
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EGR_HA_DDMMYYYY.XXXX (where XXXX is member code)
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Monthly file
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EGR _HA_M_MMYY.XXXX(where XXXX is member code)
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File Header(Pipe separated)
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DATE|MEMBERCODE|MEMBERNAME|ALGO ORDER COUNT|ALGO TRADE COUNT|OTR
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Sample Record
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yyyy-mm-dd|Clg no.|Name of member|0|0|0
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In case of any queries / clarifications, members may reach us on the below mentioned contact details.
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Contact no.
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Email ID
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022-2272 8435
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bse.reports@bseindia.com
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022-2272 5785
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For and on behalf of BSE Ltd.
Jyoti Thukral Josephine Baretto
Senior Manager Manager
Broker’s Supervision Broker’s Supervision
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