BSE asks brokers to submit clients' funding details for February

New Delhi: Leading stock exchange BSE has asked brokers operating in the cash segment to submit funding details of clients for February on its electronic filing system.

According to the norms, brokers have to provide information on amount funded as margin obligation on behalf of clients as well as funding related to settlement obligations for institutional and non institutional clients, among others.

"All the trading members who were active during the month of February, 2017 are required to upload client funding details for the month of February, 2017 through BEFS (BSE Electronic Filing System)," BSE said in a circular.

"Client funding option for the month of February would be enabled in the BEFS from March 1 till March 8," it added.

BSE also said that trading members who do not fund the clients have an option of submission of undertaking in the BEFS.

"In case a 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," the exchange said.

Further, the bourse said if a trading member does funding to the clients subsequently, he would be required to revoke the undertaking through option available in the BEFS and then upload the client funding details.