BSE tells brokers to submit client funding details
As per BSE norms, trading members have to provide information on amount funded as margin obligation on behalf of clients, funding related to settlement obligations for institutional and non-institutional clients, among others.
“All the trading members who were active during the month of June, 2016 are required to upload client funding details for the month of June, 2016 through BEFS (BSE Electronic Filing System),” BSE said in a circular.
“Client funding option for the month of April, 2016 would be enabled in the BEFS from July 1 till July 8, 2016,” the exchange added. BSE also said trading members who do not fund the clients have an option of submission of undertaking in the BEFS.
“In case trading member chooses to submit an undertaking, the member is not required to upload NIL funding every month and the system will treat the funding as NIL till he revokes the undertaking,” BSE said.