Dated: 17th
January 2013
NOTICE
Re: Requirement of Base
Minimum Capital (BMC) for Stock Brokers/Trading Members of CSE
Attention is drawn to CSE’s
Notice dated 20th December 2012, bringing the provisions of SEBI
Circular No. CIR/MRD/DRMNP/36/2012, dated December 19, 2012 to the notice of
stock brokers/trading members of the Exchange on the subject captioned
above.
In continuation to the
aforementioned circular, Trading Members are requested to take note of
introduction of the following categories of trading members for maintenance of
Base Minimum Deposit (BMC) based on the profile of the trading members as
under:
|
Category |
Profile of Trading Members |
Total BMC Amount (Rs.) |
Out of total BMC, deposit in “Cash Equivalents” (Rs) |
Cash Deposit on which Interest would accrue to SGF (Rs) |
Amount of Lien Marked Fixed Deposit that can be accepted (Rs) |
|
1 |
Only Proprietary trading
without Algorithmic trading (Algo) |
4 Lac |
2 Lac |
1 Lac |
3 Lac |
|
2 |
Trading only on behalf of
Clients (without proprietary trading) and without Algo
|
6 Lac |
3 Lac |
1.5 Lac |
4.5 Lac |
|
3 |
Proprietary trading and
trading on behalf of Clients without Algo |
10 Lac |
5 Lac |
2.5 Lac |
7.5 Lac |
|
4 |
Trading Members/ Brokers
with Algo |
20 Lac |
10 Lac |
5 Lac |
15 Lac |
All Trading Members of the
Exchange are advised to inform the Exchange in writing about their nature of
trading and choose any one category latest by 15th February 2013 to
enable the Exchange to enhance/reduce the requirement of their applicable BMC
as above. In case a trading member does
not inform about their profile of trading, it would be presumed that the
trading member would be trading on their proprietary account as well as trading
on behalf of Clients without Algo and will be
classified in Category 3 by default.
All Trading Members are
requested to take note of the above and inform about the nature/profile of
trading accordingly.
B.Madhav Reddy
MD
& CEO