This is further to SEBI circular no. CIR/MRD/DMS/34/2013 dated November 6, 2013 and Exchange notice no. 20181001-7 dated October 1, 2018 regarding System audit requirements for Algorithmic trading for half year ended September 2018.
Exchange has identified the stock brokers (Type III brokers) who use Algorithmic Trading or provide their clients with the facility of Algorithmic Trading, based on available data / information and displayed the same in the BEFS. In case of any discrepancy, stock brokers are requested to immediately contact the officials of the Broker supervision department (contact details given below).
The type III Broker (Brokers who use Algorithmic Trading facility to trade) are required to submit the system audit report for the period April 1, 2018 to September 30, 2018.
As earlier informed that the Auditor may perform a maximum of 3 successive audits of the stock broker and follow-on audits conducted by the auditor shall not be considered in the successive audits. In this regard, it is clarified that the count of such audits will commence from audits conducted for period ended March 31, 2014.
The provision to submit the System audit report and related documents only in electronic form through BEFS (BSE Electronic Filing System) is now enabled at following link.
In the above said link audit period April 18 - September 18 has been displayed (in the dropdown) for the stock brokers who are required to submit the half yearly system audit report for the period ended September 2018.
Stock Brokers are requested to refer to the user manual available in the BEFS (System Audit Report module) while submitting the report. Stock Brokers are required to upload all documents in PDF FORMAT only.
Following are the file naming conventions for uploading the required files.
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Name of Document
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Naming convention of file
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Example
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Terms Of Reference
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CLGNO._TOR(TYPE)_SEP18.PDF
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1_TORIII_SEP18
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Executive Summary Report
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CLGNO._ESR_SEP18.PDF
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1_ESR_SEP18
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Corrective Action Report
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CLGNO._CAR_SEP18.PDF
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1_CAR_SEP18
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Follow on Report
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CLGNO._FOR_SEP18.PDF
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1_FOR_SEP18
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Please note that in case of non/late submission of System audit report for the half year ended September 30, 2018 beyond November 30, 2018, disciplinary action/charges are as follows:
1. Charges of Rs 100/- per day will be levied for the month of December 2018.
2. Further, from January 1, 2019 Exchange will withdraw trading facility for non-submission of System audit report.
In case of any further clarification, the stock brokers may contact the following Officials.
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Sr. No.
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Name of Official
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Tel No.
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1.
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Ms. Jyoti Thukral
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022-22728214
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2.
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Ms. Priya Pillai
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022-22728598
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For and on behalf of BSE Ltd.
Hitasha Gurbani Jyoti Thukral
Asst. General Manager Sr. Manager
Broker Supervision Broker Supervision |