This is with reference to Exchange notice no.20190116-32 dated January 16,2019 on the captioned subject. Members of the Exchange are hereby informed that following course of action is provided in cash segment with effect from April 1, 2019.
· Membership structure as TM, SCM, TCM and PCM as prevalent in Equity Derivatives segment shall be implemented in Cash segment w. e. f. April 01, 2019.
· Existing members in Cash segment who are already registered as SCM/TCM in Equity Derivatives segment shall automatically become SCM/TCM, as the case may be, in Cash segment w. e. f. April 01, 2019.
· Existing members in Cash segment who are not registered as SCM/TCM in Equity Derivatives segment shall continue as SCM in Cash segment w. e. f. April 01, 2019 however,
· Existing members in Cash segment shall meet with the Networth requirement as per L.C. Gupta formula as applicable to SCM/TCM respectively in Equity Derivatives segment on or before September 30, 2019.
· Existing members in Cash segment who fail to meet the Networth requirement for SCM/TCM on or before September 30, 2019 shall continue to trade as TM in Cash segment provided that they shall tie up with TCM/PCM for clearing and settlement of their trades on or before September 30, 2019.
· Existing PCM in Equity Derivatives segment shall become PCM in cash segment w. e. f. April 01, 2019.
· Existing Custodian Clearing member in cash segment shall continue to act as Custodian
Clearing member in cash segment only.
Networth & Net Liquid Collaterals requirement for Cash segment:
|
Segment
|
Trading Member
(in Rs.)
|
Trading cum Clearing Member -TCM
(in Rs.)
|
Trading cum Self-Clearing Member-SCM
(in Rs.)
|
|
|
Networth
|
Net Liquid Collaterals
|
Networth
|
Net Liquid Collaterals
|
Networth
|
Net Liquid Collaterals
|
|
Cash
|
25 lakhs
|
Nil
|
3 crores
|
Nil
|
1 crore
|
Nil
|
i) All existing members in the Cash segment are required to submit Networth as per L.C. Gupta formula by September 30, 2019.
ii) New members who are admitted on BSE from April 01, 2019 to September 30, 2019 and who are members on other exchanges, shall be permitted to submit Networth certificate for trading membership in cash segment as per the format prescribed by the respective exchanges where they are already registered.
iii) New members who are not existing members at any other Exchange and are admitted on or after April 01, 2019 are required to submit Networth certificate as per L.C. Gupta formula for trading membership in the cash segment.
For any clarification, please contact the following officials:
|
Name
|
Telephone no.
|
Email ID
|
|
Amit Kadam
|
022-22728010
|
membership.ops@bseindia.com
|
|
Ankit Kothari
|
022-22728287
|
membership.ops@bseindia.com
|
|
Yogesh Zarkar
|
022-22728546
|
membership.ops@bseindia.com
|
Gopalkrishnan Iyer Ketan Jantre
Chief General Manager Senior General Manager
Membership compliance Membership Operations |