Download Reference No:NSE/CMPT/5009

 

NATIONAL SECURITIES CLEARING CORPORATION LIMITED

                                          FUTURES & OPTIONS SEGMENT

 

Reference No: NSCC/F&O/C&S/317                                                   April 21, 2004

 

PC-SPAN CD

 

In modification to the circular No. NSCC/F&O/C&S/77 dated November 8, 2001 members are informed that copies of PC-SPAN CD can be obtained by the members by paying Rs 8598/- to the Clearing Corporation .  The above cost is for the next 85 copies of CD to be distributed on first come first serve basis. 

 

To obtain a copy of PC-SPAN as above, members are required to fulfill the following formalities:

 

a) Execute an undertaking provided as per Annexures. This undertaking is required to be submitted on non-judicial stamp paper of Rs.20/- or the value prevailing in the State where executed, whichever is higher.  The undertaking needs to be notarized and the common seal of the company needs to be affixed on the last page

Annexure I A is for Clearing Members and Annexure I B is for Trading Members.

 

b) Provide a DD payable at Mumbai in favour of National Stock Exchange of India Ltd. for Rs 8598/-

 

c) Provide Acknowledgement letter as provided in the Annexure II.

 

Members are requested to contact the following personnel in this regard:

Centre

Name of the personnel

Contact number

Mumbai

Amit Joshi

022-26598165

 

Shaju Paul

022-26598165

 

Raju Kadam

022-26598165

Delhi

Monica Sachdeva

011-23344130

 

Renu Bhandari

011-23344504

 

Jitender Saini

011-23344130

Kolkatta

Jaidip Menon

033-22831845

 

R Lakshmi

033-22805401

Chennai

G Sriram

044-28473604

Ahmedabad

Geeta Shastri

079-26580212

Hyderabad

Sreenivas Reddy

040-23324880/83

 

The CD's would be distributed on first come first serve basis. Members may note that further procurement of CD will be subject to procurement and availability

 

Members who have a copy of PC-SPAN version 4.01a.318 provided earlier, may collect the upgraded version 4.01b.346 from the respective office by providing the copy of acknowledgement letter submitted earlier.

 

The distribution of CD's would be done between 10.00 am to 3.30 pm during working days.

 

For National Securities Clearing Corporation Ltd.

 

 

Sudhendu Gandhi

Manager

 

SPANŽ is a registered trademark of the Chicago Mercantile Exchange, used herein under License.  The Chicago Mercantile Exchange assumes no liability in connection with the use of SPAN by any person or entity.

 

 

ANNEXURE I A

Draft Undertaking for Clearing member

 

 

I/ We ______________________________________, an individual/ a firm registered under the Indian Partnership Act, 1932/ a Company/ Body Corporate incorporated under the Companies Act of 1956/ __________________________ Act, ___, and residing at / having our registered office at _____________________________________________ give this UNDERTAKING on this ______ day of ___________ at _______________ IN FAVOUR of National Stock Exchange of India Ltd., a company incorporated under the Companies Act of 1956, with its registered office at Exchange Plaza, C-1, Block G, Bandra-Kurla Complex, Bandra (E), Mumbai -400051 (hereinafter called "NSEIL")

 

WHEREAS

 

a) Chicago Mercantile Exchange Inc.(hereinafter called as CME), a Delware Corporation having its principal place of business at 30, South Wacker Drive, Chicago, Illinois 60606,U.S.A  has granted and NSEIL has acquired a non exclusive, non- assignable, non- transferable license to use the SPAN Framework, as presently existing and hereafter modified and to use the SPAN Mark ( SPAN Ž) therefor on and in connection with NSEIL'S use of the SPAN Framework and in the marketing and advertising of NSEIL'S performance bond system and/pr related risk based calculations.

 

 

b) NSEIL is in receipt of  copies of PC SPANŽ version 4 on CD-ROM from CME which can be used in calculating margin ( performance bond ) requirements on portfolios composed, in whole or in part, of futures contracts, options on futures contracts, physicals, options on physicals, and other financial instruments held by clearing member firms, individual exchange members, public customers and other market participants

 

c) I/ We am/ are a clearing member of National Securities Clearing Corporation Ltd. (NSCCL), which is undertaking the clearing and settlement work of NSEIL.  NSEIL at the request of NSCCL has agreed to  provide PC SPAN Ž to me/ us for Rs ______ per copy for my/ our benefit and I/ we agree to abide by and be bound by the various terms and conditions which NSEIL may prescribe in this regard from time to time.

 

d)  I/ We am/ are desirous of using PC SPANŽ and shall fulfil all the terms and conditions as may be prescribed by NSEIL from time to time at its discretion in this regard and one of the terms being that I/ we shall execute an undertaking in favour of NSEIL in the format prescribed by NSEIL.

 

 

NOW THEREFORE IN CONSIDERATION OF NSEIL having agreed to provide a  copy of PC SPANŽ  at Rs ____ to me/ us for the aforesaid purposes, I/ we hereby IRREVOCABLY AND UNCONDITIONALLY UNDERTAKE and agree to abide by and be bound by the following terms and conditions:

 

 

1. I/ We agree that the PC SPANŽ is the exclusive property of CME and the responsibility to define, maintain and update the PC SPANŽ is in the exclusive control of CME.

 

2. I/ We undertake and ensure that the I/ we shall include in all of my/ our advertisements, brochures, and promotional and informational materials relating or referring to the PC SPANŽ the following statement :

                

               " PC SPANŽ is a registered trademark of Chicago Mercantile Exchange, used

  herein under License.  The Chicago Mercantile Exchange assumes no liability in connection with the use of SPAN by any person or entity"

 

3. I/ We undertake that I/ we shall not use any mark that is confusingly similar to the PC SPANŽ in connection with any margin system and shall notify NSEIL immediately if I/ we become aware of any unauthorised use of any of the software material or of any infringement or suspected infringement of PC SPAN'S copy right, trade marks or any other of its intellectual property rights.

 

4. I/ We undertake not to copy, modify or transfer the software in respect of PC SPANŽ, or any copy or merged portion thereof in whole or in part.

 

5. I/ We agree that the PC SPANŽ includes CME'S work product, know-how, formulae, patterns, devices and/ or compilations of information, which are used to the competitive advantage of CME in its business and thus constitute valuable proprietary assets, inclusive of trade secrets and copyrights, of CME.  In order to protect the said assets, I/ we agree that the software in respect of PC SPANŽ and all proprietary information relating to PC SPANŽ is of a confidential nature and is to be kept confidential by me/ us.

 

6. In recognition of my/ our obligation of confidentiality I/ we undertake not to disclose PC SPANŽ and any proprietary information relating thereto in any form, whether written or verbal, to any person without the prior written consent of NSEIL.

 

7. I/ We undertake to notify NSEIL of any information which comes to its attention which indicates or might indicate that there either has been or likely will be a loss of confidentiality of any Confidential Information.  I/ we shall confirm in writing to NSEIL the extent and detail of any loss or unauthorised disclosure of any Confidential Information and shall use reasonable efforts to retrieve the lost or wrongfully disclosed.

 

8. I/ We undertake to indemnify and hold harmless NSEIL/ CME, its directors, officers, employees, agents and affiliates, (individually and collectively, "Indemnified Party") from and against any and all liabilities, damages, claims, losses, costs, attorneys' fees, expenses and amounts paid or payable by NSEIL/ CME in defending contesting or settling any suit, proceeding, claim, demand, or other action against the Indemnified Party, arising out of or based upon any fault, omission, inaccuracy or any other cause in connection with the furnishing, or use or inability to use all or any part of PC SPAN files by me/ us ; provided however NSEIL/ CME shall promptly give written notice of any such suit, proceeding, claim, demand or other action. 

 

 

9. I/ We undertake that NSEIL shall have the right and privilege of inspecting and testing the PC SPANŽ at my/ our site and the site without any prior notice. 

 

10. I/ We am/ are fully aware that NSEIL shall not be responsible for development, maintenance, updates, upgrades, error fixes and other support functions.

 

11. I/ We shall render all possible assistance and co-operation to NSEIL by providing access to any kind of information in any form as it may require and I/ we hereby undertake to produce such documents, records, accounts, books, data howsoever stored including data stored in magnetic tapes, floppy diskettes, etc. and any other information as may be required by NSEIL at its discretion.

 

12. I/ We agree and undertake that NSEIL shall not be liable for any direct or indirect loss, damage, costs, claims and expenses whatsoever caused or contributed by any event of force majeure.  For the purposes of this Clause, "Force Majeure" means and includes wars, insurrections, revolution, fires, floods, epidemic, quarantine restrictions, declared general strikes in relevant industries, act of God, act of the Government of India and any concerned State Government and such other acts or events beyond NSEIL's control and further the above is without prejudice to the rights already accrued to NSEIL due to my/ our failure to perform either in full or in part, my/ our obligations prior to the occurrence of events of Force Majeure.

 

13. I/ We shall indemnify and keep indemnified NSEIL harmless against every and all claims, demand, damages, liabilities, losses and expenses suffered by it directly by reason of my/ our non-compliance, contravention with any of the provisions of this Undertaking.

 

14. I/ We agree that no forbearance, delay or indulgence by NSEIL in enforcing the provisions of this Undertaking shall prejudice or restrict the rights of NSEIL nor shall any waiver of its rights operate as a waiver of any subsequent breach and no rights, powers, remedies herein conferred upon or reserved for NSEIL is exclusive of any other right, power or remedy available to NSEIL and each right, power or remedy shall be cumulative.

 

15. I/ We agree and undertake to abide by the terms and conditions of the software license of CME provided along with PC SPANŽ

 

16. I/ We undertake that any declaration or other notice to be given by me/ us to NSEIL shall be sent by registered letter or telex/ cable or facsimile transmission to the address first mentioned above.

 

17. That I/ we shall execute, sign, subscribe to such other documents, papers, agreement, covenants, bonds, and/or undertakings as may be prescribed or required by NSEIL from time to time.

 

18. I/ We also agree that in the event of my/ our non-compliance with any of the provisions as mentioned above, NSEIL shall take such action against us as it may deem fit in this regard.

 

19. I/ We also agree that in the event of NSEIL assigning the benefits of this undertaking to NSCCL, this undertaking in such event shall be deemed to be executed as if it were executed in favour of NSCCL and all the terms and conditions of this undertaking shall be binding on me/ us except that NSCCL substitute NSEIL.  Any intimation of NSEIL in regard to such assignment to NSCCL shall be final and binding on me/ us.

 

 

IN WITNESS WHEREOF this Undertaking is executed by the undersigned on the day, month, year and the place first mentioned above.

 

SIGNED, SEALED AND DELIVERED BY

____________________________________

for and on behalf of ____________________

____________________________________

____________________________________

 

 

Before me

 

                                                              ANNEXURE - I B

Draft Undertaking  for The Trading member

 

 

I/ We ______________________________________, an individual/ a firm registered under the Indian Partnership Act, 1932/ a Company/ Body Corporate incorporated under the Companies Act of 1956/ __________________________ Act, ___, and residing at / having our registered office at _____________________________________________ give this UNDERTAKING on this ______ day of ___________ at _______________ IN FAVOUR of National Stock Exchange of India Ltd., a company incorporated under the Companies Act of 1956, with its registered office at Exchange Plaza, C-1, Block G, Bandra-Kurla Complex, Bandra (E), Mumbai - 400051 (hereinafter called "NSEIL")

 

WHEREAS

 

a) Chicago Mercantile Exchange Inc.(hereinafter called as CME), a Delware Corporation having its principal place of business at 30, South Wacker Drive, Chicago, Illinois 60606,U.S.A  has granted and NSEIL has acquired a non exclusive, non- assignable, non- transferable license to use the SPAN Framework, as presently existing and hereafter modified and to use the SPAN Mark ( SPAN Ž) therefor on and in connection with NSEIL'S use of the SPAN Framework and in the marketing and advertising of NSEIL'S performance bond system and/pr related risk based calculations.

 

 

b) NSEIL is in receipt of copies of PC SPANŽ version 4 on CD-ROM from CME which can be used in calculating margin ( performance bond ) requirements on portfolios composed, in whole or in part, of futures contracts, options on futures contracts, physicals, options on physicals, and other financial instruments held by clearing member firms, individual exchange members, public customers and other market participants

 

c) I/ We am/ are a trading  member of NSEIL. NSEIL at the request of NSCCL has agreed to  provide PC SPAN Ž to me/ us for Rs ______ per copy for my/ our benefit and I/ we agree to abide by and be bound by the various terms and conditions which NSEIL may prescribe in this regard from time to time.

 

d)  I/ We am/ are desirous of using PC SPANŽ and shall fulfil all the terms and conditions as may be prescribed by NSEIL from time to time at its discretion in this regard and one of the terms being that I/ we shall execute an undertaking in favour of NSEIL in the format prescribed by NSEIL.

 

 

NOW THEREFORE IN CONSIDERATION OF NSEIL having agreed to provide a  copy of PC SPANŽ at Rs ____ to me/ us for the aforesaid purposes, I/ we hereby IRREVOCABLY AND UNCONDITIONALLY UNDERTAKE and agree to abide by and be bound by the following terms and conditions:

 

 

1. I/ We agree that the PC SPANŽ is the exclusive property of CME and the responsibility to define, maintain and update the PC SPANŽ is in the exclusive control of CME.

 

2. I/ We undertake and ensure that the I/ we shall include in all of my/ our advertisements, brochures, and promotional and informational materials relating or referring to the PC SPANŽ the following statement :

              

            " PC SPANŽ is a registered trademark of Chicago Mercantile Exchange, used 

            herein under License.   The Chicago Mercantile Exchange assumes no liability in

            connection with the  use of SPAN by any person or entity"

 

3. I/ We undertake that I/ we shall not use any mark that is confusingly similar to the PC SPANŽ in connection with any margin system and shall notify NSEIL immediately if I/ we become aware of any unauthorised use of any of the software material or of any infringement or suspected infringement of PC SPAN'S copy right, trade marks or any other of its intellectual property rights.

 

4. I/ We undertake not to copy, modify or transfer the software in respect of PC SPANŽ, or any copy or merged portion thereof in whole or in part.

 

5. I/ We agree that the PC SPANŽ includes CME'S work product, know-how, formulae, patterns, devices and/ or compilations of information, which are used to the competitive advantage of CME in its business and thus constitute valuable proprietary assets, inclusive of trade secrets and copyrights, of CME.  In order to protect the said assets, I/ we agree that the software in respect of PC SPANŽ and all proprietary information relating to PC SPANŽ is of a confidential nature and is to be kept confidential by me/ us.

 

6. In recognition of my/ our obligation of confidentiality I/ we undertake not to disclose PC SPANŽ and any proprietary information relating thereto in any form, whether written or verbal, to any person without the prior written consent of NSEIL.

 

7. I/ We undertake to notify NSEIL of any information which comes to its attention which indicates or might indicate that there either has been or likely will be a loss of confidentiality of any Confidential Information.  I/ we shall confirm in writing to NSEIL the extent and detail of any loss or unauthorised disclosure of any Confidential Information and shall use reasonable efforts to retrieve the lost or wrongfully disclosed.

 

8. I/ We undertake to indemnify and hold harmless NSEIL/ CME, its directors, officers, employees, agents and affiliates, (individually and collectively, "Indemnified Party") from and against any and all liabilities, damages, claims, losses, costs, attorneys' fees, expenses and amounts paid or payable by NSEIL/ CME in defending contesting or settling any suit, proceeding, claim, demand, or other action against the Indemnified Party, arising out of or based upon any fault, omission, inaccuracy or any other cause in connection with the furnishing, or use or inability to use all or any part of PC SPAN files by me/ us ; provided however NSEIL/ CME shall promptly give written notice of any such suit, proceeding, claim, demand or other action. 

 

 

9. I/ We undertake that NSEIL shall have the right and privilege of inspecting and testing the PC SPANŽ at my/ our site and the site without any prior notice. 

 

10. I/ We am/ are fully aware that NSEIL shall not be responsible for development, maintenance, updates, upgrades, error fixes and other support functions.

 

11. I/ We shall render all possible assistance and co-operation to NSEIL by providing access to any kind of information in any form as it may require and I/ we hereby undertake to produce such documents, records, accounts, books, data howsoever stored including data stored in magnetic tapes, floppy diskettes, etc. and any other information as may be required by NSEIL at its discretion.

 

12. I/ We agree and undertake that NSEIL shall not be liable for any direct or indirect loss, damage, costs, claims and expenses whatsoever caused or contributed by any event of force majeure.  For the purposes of this Clause, "Force Majeure" means and includes wars, insurrections, revolution, fires, floods, epidemic, quarantine restrictions, declared general strikes in relevant industries, act of God, act of the Government of India and any concerned State Government and such other acts or events beyond NSEIL's control and further the above is without prejudice to the rights already accrued to NSEIL due to my/ our failure to perform either in full or in part, my/ our obligations prior to the occurrence of events of Force Majeure.

 

13. I/ We shall indemnify and keep indemnified NSEIL harmless against every and all claims, demand, damages, liabilities, losses and expenses suffered by it directly by reason of my/ our non-compliance, contravention with any of the provisions of this Undertaking.

 

14. I/ We agree that no forbearance, delay or indulgence by NSEIL in enforcing the provisions of this Undertaking shall prejudice or restrict the rights of NSEIL nor shall any waiver of its rights operate as a waiver of any subsequent breach and no rights, powers, remedies herein conferred upon or reserved for NSEIL is exclusive of any other right, power or remedy available to NSEIL and each right, power or remedy shall be cumulative.

 

15. I/ We agree and undertake to abide by the terms and conditions of the software license of CME provided along with PC SPANŽ

 

16. I/ We undertake that any declaration or other notice to be given by me/ us to NSEIL shall be sent by registered letter or telex/ cable or facsimile transmission to the address first mentioned above.

 

17. That I/ we shall execute, sign, subscribe to such other documents, papers, agreement, covenants, bonds, and/or undertakings as may be prescribed or required by NSEIL from time to time.

 

18. I/ We also agree that in the event of my/ our non-compliance with any of the provisions as mentioned above, NSEIL shall take such action against us as it may deem fit in this regard.

 

19. I/ We also agree that in the event of NSEIL assigning the benefits of this undertaking to NSCCL, this undertaking in such event shall be deemed to be executed as if it were executed in favour of NSCCL and all the terms and conditions of this undertaking shall be binding on me/ us except that NSCCL substitute NSEIL.  Any intimation of NSEIL in regard to such assignment to NSCCL shall be final and binding on me/ us.

 

 

IN WITNESS WHEREOF this Undertaking is executed by the undersigned on the day, month, year and the place first mentioned above.

 

SIGNED, SEALED AND DELIVERED BY

____________________________________

for and on behalf of ____________________

____________________________________

____________________________________

 

 

Before me

ANNEXURE - II :

ON LETTER HEAD OF MEMBER

 

To,

The Manager

National Securities Clearing Corporation Ltd.

Exchange Plaza, C-1 Block G

Bandra Kurla Complex,

Bandra(E), Mumbai-400051

 

 

Dear Sir,

 

Subject :  Acknowledgment for receipt of PC- SPAN CD

 

We have received  one CD of PC- SPANŽ along with the installation document .

 

The serial no of the CD is   _______.

 

The following are being provided in accordance with the requirements of NSCCL:

 

1. Contact Person ( In Full)

2.Address

3. Phone number

4. Fax number

5.. E- Mail Id of the Member ( Mandatory)

6.  PC-Span Undertaking on non judicial stamp paper.

7. DD no_________dated_____________drawn at_______________payable at Mumbai for Rs 8598/- towards the cost for PC-SPANŽ  CD

 

Thanking you,

 

Yours faithfully

 

For Member Name

 

 

Signature

Name :

 

SPANŽ is a registered trademark of the Chicago Mercantile Exchange, used herein under License.  The Chicago Mercantile Exchange assumes no liability in connection with the use of SPAN by any person or entity.