BSE, NSE discontinue quarterly submission of compliance certificate for order execution

New Delhi: Leading stock exchanges BSE and NSE have decided to discontinue with the requirement of submission of compliance certificate by trading members for execution of orders from the quarter ended June 2020 onwards.

Trading members were required to submit the compliance certificate for execution of orders on a quarterly basis to the exchange confirming the status of compliance with the requirements relating to limit setting at the time of order placement.

In view of the quantity limits defined by the bourses on orders and individual securities as well as setting up of definite user order, which has been communicated to the market from time to time, it has been decided to discontinue with the requirement of submission of compliance certificate for execution of orders from the quarter ended June, 2020 onwards, the exchanges said in separate circulars on Wednesday.

Separately, the exchanges also informed trading members about more time given by the capital markets watchdog Sebi with regard to reporting of artificial intelligence and machine learning.