Circular No.: NSE/CMO/0004/2003

Download No. NSE/CMTR/3860

Date: January 11, 2003

Pursuant to the scheme relating to Retail Debt Market announced by SEBI to encourage wider participation of all classes of investors, including retail, across the country in government securities in the same manner in which trading takes place in equities, Retail Debt Market is being introduced by the Exchange shortly. It is proposed to use the RETDEBT Market facility on the NEAT system of Capital Market Segment for entering transactions in RDM session.

It is decided to offer facility of Retail Debt Market to Trading Members having membership only in Wholesale Debt Market (WDM). Therefore, Trading Members in the WDM are advised to submit a letter in the format enclosed as per Annexure - A if they are desirous of participating in RDM.

A circular on the Retail Debt Market features shall be issued separately.

For and on behalf of

Model letter (applicable in respect of Trading Members only on the WDM

Segment of the Exchange)

Ref. No. Date:

Membership Department

National Stock Exchange of India Limited

4^th Floor, Exchange Plaza

Bandra Kurla Complex

Bandra (East)

Mumbai-400 051

Dear Sir,

This has reference to the circular No._______dated ____ informing the introduction of retail trading in government securities on the Capital Market Segment of the Exchange and allowing trading members only on the Wholesale Debt Market Segment also to have conditional limited access to Capital Market trading segment for the purpose of retail trading in government securities.

We hereby apply to the Exchange for allowing us to have conditional limited access to Capital Market trading segment for the purpose of retail trading in government securities.

We undertake to comply with the Rules, Byelaws, Regulations, Circulars and other directives/requirements of the Exchange, as may be applicable form time to time in respect of retail trading in government securities on the Capital Market Segment of the Exchange.

We further agree that this is merely an extension of our Trading Rights in the WDM Segment.

We agree that undertaking executed by us in favour of the Exchange in respect of our trading membership on the Wholesale Debt Market Segment will also apply mutatis-mutandis in respect of our trading in government securities on the Capital Market segment of the Exchange and accordingly undertake to comply with the same in respect of trading in government securities on the Capital Market segment of the Exchange also.

Yours faithfully,

For_____________________

_____________(Name)

______________(Designation)