NATIONAL STOCK EXCHANGE OF INDIA LIMITED
CAPITAL MARKET OPERATIONS
CIRCULAR
Circular no: NSE/CMO/0235/2005
Download No : NSE/CMTR/6552
Date :
Dear Members,
Sub: Scheme governing use of facility relating to Computer to Computer
(CTCL) trading / Internet based Trading
National Stock Exchange of India (NSE) offers a
facility to its members by which members are allowed to use their own trading
front-end software in order to trade on the NSE trading system (NEAT). Members
wishing to avail of the CTCL facility are required to submit an undertaking in
the specified format.
However, with an objective to facilitate orderly
use of CTCL facility and to consolidate various conditions and / or
requirements governing the use of CTCL facility, it has been decided to replace
the existing undertaking with a new comprehensive scheme containing various
conditions and /or requirements.
Trading members applying for CTCL facility are
required to give us an undertaking stating that they will abide by all the
conditions and / or requirements mentioned in the comprehensive scheme governing
use of facility relating to Computer to Computer (CTCL) trading / Internet based
trading.
List of documents enclosed as per below mentioned
table:
|
Particulars |
Annexure No. |
|
Undertaking to be given by the trading members applying for CTCL / IBT trading facility. |
1 |
|
Comprehensive scheme governing use of facility relating to Computer to Computer (CTCL) trading / Internet based trading. |
2 |
|
Checklist of documents to be submitted alongwith application for CTCL facility. |
3 |
|
Checklist of documents to be submitted alongwith application for Internet Based trading facility. |
4 |
|
Application form for permission for provision of CTCL based trading services |
5 |
|
Reference points while developing in-house CTCL software |
6 |
Trading members may also note that the list of various
circulars issued by Capital Market Operations pertaining to CTCL / IBT
trading facility are as follows :
|
Circular Date |
Download No. |
Particulars |
|
|
NSE/CMTR/1641 |
Computer to Computer link (CTCL) Facility |
|
|
NSE/CMT/3896 |
Free Release of NNF document to
members and revision of fee/charge on CTCL |
|
|
NSE/CMT/4349 |
Affidavit Cum Undertaking for use of Computer to Computer (CTCL) Trading |
|
|
NSE/CMT/4451 |
Computer to Computer link (CTCL) Trading |
|
|
NSE/CMTR/4540 |
Proprietary account trading |
|
|
NSE/CMTR/4718 |
CTCL facility / Internet based trading services |
|
|
NSE/CMTR/5758 |
Uploading of CTCL Details |
|
|
NSE/CMTR/5802 |
Uploading of CTCL Details |
|
|
NSE/CMTR/6128 |
System Audit requirement for
CTCL / Internet based trading facility |
|
|
NSE/CMTR/6343 |
Norms for client passwords for Internet based trading services |
|
|
NSE/CMTR/6386 |
Guidelines for developing in
house software for CTCL / Internet
based trading facility |
Henceforth, use of CTCL facility by all the trading
members shall be subject to and governed by the provisions contained in this scheme
and / or any amendments thereof that may take place hereafter.
For National Stock
Exchange of
Suprabhat Lala
Manager Capital
Markets
Annexure
1
(Note: Document to be stamped for Rs.300/- or the value prevailing
in your State, whichever is higher. Please execute document on Non-Judicial
stamp paper/s or on paper franked from Stamp Office/authorised
banks)
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, 19__, and residing at / having our registered
office at _________________________________________ (hereinafter referred to as
the Undersigned which expression
shall unless repugnant to the context include his / its successors, assigns and
legal representatives) give this Undertaking IN FAVOUR of NATIONAL STOCK EXCHANGE OF INDIA LIMITED, a company incorporated
under the Companies Act, 1956 and having its registered office at Exchange
Plaza, Bandra-Kurla Complex, Bandra
(East), Mumbai 400 051 (hereinafter referred to as NSEIL which expression shall unless repugnant to the context
include its successors, assigns and legal representatives)
1. WHEREAS,
NSEIL provides inter alia a Computer To Computer Link (hereinafter referred to as the "CTCL
facility" as well as facility to use internet) by which NSEIL provides a
facility to its Trading Members to access the trading system of NSEIL.
2. WHEREAS,
NSEIL makes available the CTCL / Internet based trading facility to its Trading
Members on case to case basis, subject to such terms and conditions as NSEIL
specifies from time to time in the Scheme Governing the use of facility
relating to CTCL / Internet based trading (hereinafter referred to as the
"CTCL scheme") and one of the conditions is that each trading member
willing to avail of the CTCL / internet based trading facility shall execute an
undertaking in favour of NSEIL in the format
prescribed by NSEIL and agree to abide by any modifications / additions to the
scheme of CTCL effected by NSEIL from time to time.
3. WHEREAS, I/We
have been admitted to the Trading Membership of NSEIL, and am/are desirous of
availing of the CTCL / Internet Based trading facility by fulfilling all the
terms and conditions as may be prescribed by NSEIL from time to time at its
discretion in this regard.
NOW THEREFORE IN
CONSIDERATION OF NSEIL having agreed to allow the Trading Member at his / its request, to
avail of the CTCL facility, the Trading Member hereby IRREVOCABLY AND
UNCONDITIONALLY UNDERTAKES and agrees to abide by and be bound by the following
terms and conditions:
1.
That
I/We shall abide by, comply with and be bound by the Rules, Bye-laws,
Regulations and CTCL scheme of NSEIL as in existence or as may be modified /
amended by the relevant authority from time to time and any circular, order,
direction, notice, instructions issued and / or as maybe modified or amended
from time to time by the relevant authority;
2.
That
NSEIL shall be entitled to amend its Rules, Bye Laws, Regulations and CTCL
scheme unilaterally and I/We shall be deemed to have consented to them, and
accordingly be bound by the Rules, Bye-laws, Regulations and CTCL scheme
prevailing from time to time and NSEIL shall be entitled to all powers vested
in them under the Rules, Bye-laws and Regulations, by which I/We
unconditionally agree to be bound;
3.
That
I/We shall execute, sign, subscribe, to such documents, papers, agreements,
covenants, bonds and / or undertakings whether legal or otherwise as maybe
required by NSEIL from time to time.
4.
That
without prejudice to the rights, remedies whether legal or otherwise available
to NSEIL upon my / our non-compliance with this Undertaking, I/We shall
indemnify and keep indemnified NSEIL against any loss / damage suffered by it
whether legal or otherwise arising due to non-compliance by me/us with the provisions
of this Undertaking.
5.
The
above undertaking will be binding on my / our successors and permitted
assignees.
IN WITNESS WHEREOF this Undertaking is executed by
me / us (*in terms of the resolution passed by the Board of Directors at the
duly convened meeting held on ____________) on the day, month, year and the
place first mentioned above
(*I / We or me/us or my / our delete whatever is inapplicable)
SIGNED and DELIVERED by the within named )
_________________, *for and on behalf of )
_____________________________
In the presence of Witnesses )
1.
___________________ (Name & Address) )
.
2.
___________________ (Name & Address) )
.
Annexure 2
SCHEME
GOVERNING USE OF FACILITY RELATING TO CTCL / INTERNET BASED TRADING
With an objective to facilitate orderly use of CTCL facility and to
make various conditions and / or requirements governing the use of CTCL facility
in a transparent manner and to have its due and strict compliance, the scheme
containing various conditions and / or requirements is formulated as under:
For the purpose of this scheme,
CTCL facility shall mean and include use of software, which has been
developed and maintained by a
vendor / member duly empanelled with the
Exchange, for the purpose of using CTCL by a member to access the trading
system of the Exchange.
1)
PRE-REQUISITES FOR OBTAINING PERMISSION FOR CTCL FACILITY
1.1
In pursuance to the
application made in the form as maybe prescribed by the Exchange for CTCL and /
or internet based trading facility by any member, the member shall deemed to
have agreed by the provisions mentioned in the scheme hereunder, and the amendments
made thereto by the Exchange from time to time.
1.2
A member shall produce the
proof, wherever applicable, relating to approval obtained under (1.4) to the
Exchange to facilitate the Exchange to extend the CTCL facility. The member
shall also ensure that the activity carried out through use of the CTCL
facility is strictly in accordance with the approved network diagram and the
requirements specified by the Exchange / DOT and / or MTNL and / or other
appropriate government / statutory authorities.
1.3
A member who intends to
develop and maintain software to support CTCL facility to be approved by the
Exchange shall pay one time fee towards the receipt of the technical
specifications (message formats / protocol etc.) and a recurring annual fee as
may be prescribed by the Exchange from time to time. For the financial year 2005-2006, the one
time fee and recurring annual fee are Rs. One lac fifty thousand and Rs. Fifty
thousand respectively. For the purpose
of calculation of recurring charges, the financial year shall be considered as
the basis for the year. The charges (one time charge and recurring charge for
the first year) shall be payable at the time of lodging an application for the
CTCL facility with the Exchange. The recurring charges shall be apportioned on
a pro-rata basis for the financial year from the day on which the application
is received.
1.4
A member shall, at its own
expense and except VSATs, provide all lines, cabling, hardware, equipment and
other communication facility required for transmission of the data between the
receiving premises and the server installed at the members office/s and also
obtain the necessary approval in writing from relevant authorities.
1.5
A member shall pay license fee
/ charges / royalty as may be levied by DOT / MTNL / Exchange / any other
government / statutory authorities from time to time.
1.6
A member shall ensure that the
telecommunication network used by the member shall be as per the requirements
specified by the Exchange / DOT / MTNL / any other government / statutory
authorities from time to time.
1.7
A member shall submit an acceptance certificate in the form as may be
specified by the Exchange from time to time as the condition precedent
for the purpose of permitting use
of CTCL facility by the Exchange, after completing necessary test and fully
satisfying the Exchange that the CTCL
facility is fault-free.
2)
CONTINUED PERMISSION REQUIREMENTS
2.1
A member shall make the CTCL
facility available to any approved person only after obtaining prior written
permission of the Exchange and such permission shall be subject to such
conditions and / or requirements as may be stipulated by the Exchange from time
to time.
2.2
A member shall ensure that no CTCL
facility is extended to any user / person unless such user / person has passed a NCFM and / or equivalent certification program
of the appropriate modules.
2.3
A member shall upload the
details relating to the approved persons in the format prescribed by the
Exchange from time to time before extending facility of use of CTCL to any
approved person. The member shall also
upload details of any change in any of the details relating to use of the CTCL
facility and / or the approved person.
2.4
A member shall ensure that
directly and / or indirectly no view only terminal and / or trading terminal
is provided to any other person / office / premises / address in contravention
with any of the provisions contained in the Bye-laws, Rules, Regulations, and
Circulars relating to requirements concerning location of CTCL terminals and
usage thereof.
2.5
A member shall take all
necessary steps to ensure that branches and/or their sub-brokers have not
provided any extension of CTCL facility connected through VSAT/Leased Line with
the Exchange by means of any connectivity viz. dial up / Leased Line / ISDN /
Wireless media / other mode without prior uploading of the user details with
location.
2.6
A member shall be responsible
and shall take all such steps / actions and put in place requisite mechanism to
ensure and keep ensuring that no approved person, in any way, is able to make
the CTCL facility further available to any other person nor shall the CTCL
facility is extended outside the premises for which details are uploaded to the
Exchange. In case any member fails to
strictly adhere to these requirements, the Exchange may, at its discretion,
take such action as it may deem fit, which may include immediate withdrawal of
the CTCL facility either in part or in full, without any notice / reference to
the member, and such disciplinary action against the member.
2.7
A member shall use the
physical connection / link provided for the purpose of having simultaneous
access to both the CTCL facility and the NEAT trading system.
2.8
A member and their branches
and/or their sub-brokers shall execute any of the orders received from any of
their constituents only in the respective name / client code of the constituent
and no order received from any of the constituents shall be executed under PRO
code and / or under other client code.
2.9
A member shall not, under any
circumstances, either through the software or otherwise, match any of the
orders entered by his / its approved persons from the terminals extended by
such member and that the member shall ensure to route all the orders, entered
by his / its approved persons, to the trading system of the Exchange where such
orders can be matched by the centralized computer trading system of the
Exchange.
2.10 A member shall ensure to put in place a system based control on the
trading limits and / or exposure taken in respect of all his / its clients and
adequate system control for setting pre-defined limits on the exposure and
turnover for each of the clients. The
system should also be capable of assessing risk of a client as soon as any
order is received by the system for processing it for execution. Acceptance / rejection of any order shall be
intimated to the respective clients within a reasonable period. Reports relating to margin requirement,
payment and delivery obligations etc shall be informed or made available to the
clients through the system.
2.11 A member shall not advertise or use any software / program which may
directly or indirectly facilitate matching of orders between or among two or
more clients by way of grouping or otherwise.
The CTCL facility being used by a member shall have inbuilt feature of pushing in all the orders,
entered by any of the approved persons only through the CTCL server of the
member for which in turn will push such orders to the trading system of the
Exchange, the purpose of execution.
2.12 A member shall not develop and/or use any software / program which
shall either directly or indirectly facilitate automated trading without prior
written permission of the Exchange. The term Automated Trading shall mean and
include any software or facility by the use of which, upon the fulfillment of
certain specified parameters, without the necessity of manual entry of orders,
buy/sell orders are automatically generated and pushed into the trading system
of the Exchange for the purpose of matching.
2.13 A member shall be responsible to settle all the trades executed by any
approved person through the use of the CTCL facility, whether such trades were
executed with or without the knowledge of the member and that the member shall
be bound to honour / comply / fulfill all the
obligations / liabilities / commitments arising out of and / or in connection
with the trades executed by the approved person/s as if such trades were done
by the member and / or permitted by the member.
2.14 A member shall maintain all systems logs and make the same available
for inspection at the discretion of, and demand by, the Exchange at any time.
2.15 A member shall ensure to undertake periodic audit of their CTCL /
Internet based trading systems at such time intervals and from such qualified
persons as may be directed by the Exchange from time to time and submit a
certificate duly issued by such qualified person to the Exchange within the
time as may be stipulated by the Exchange.
2.16 A member shall ensure to carry out necessary changes in the CTCL
facility used for accessing the trading system of the Exchange, within such
time as may be intimated by the Exchange, from time to time. No modification of any part of the software
has been / will be effected without prior written permission of the Exchange.
2.17 A member shall not develop / use any software for accessing the trading
system of the Exchange, whether through the CTCL mode or otherwise, which
software, in the opinion of the Exchange, may resemble and / or result and / or
may give appearance of NEAT software in any manner.
2.18 A member shall not assign and / or otherwise transfer any one or more
rights and / or obligations relating to the use of the CTCL facility, without
prior written permission of the Exchange.
2.19 A member shall not use, without prior written permission of the
Exchange, the name of the Exchange to directly and / or indirectly promote his
/ its business.
2.20 A member shall ensure that the CTCL facility is flexible for effecting
any changes at a short notice and has inbuilt functionalities / features in
respect of online surveillance, trade by trade position monitoring and other
risk management aspects.
2.21 A member shall treat, as confidential, all information obtained from
the Exchange pursuant to this scheme and shall not divulge such information to
any person (except employees of the member who need to no such information)
without prior written permission from the Exchange and that the member shall
ensure that all his / its employees are aware by and strictly comply with this
requirement without exception. It is clearly understood that the forgoing
obligation as to confidentially shall survive any termination of the
availability of use of the CTCL facility envisaged under this scheme.
2.22 A member shall not, either by himself / itself and / or through any
person acting on his / its behalf issue / release / publish any advertisement,
brochure / pamphlet / booklet, notice or any other promotional material on any
aspect relating to the use of the CTCL facility, in any form, whether written
or otherwise, except in accordance with the code of advertisement as may be
prescribed by the Exchange from time to time and after prior written permission
of the Exchange.
2.23 Any declaration and / or notice required to be given by any member to
the Exchange shall be sent by registered letter or facsimile transmission or at
e-mail address specifically provided by the Exchange for this purpose.
2.24 Besides the conditions and / or requirements as may be stipulated under
clause (2.1) by the Exchange, all the provisions contained in the Bye-laws,
Rules, Regulations and Circulars relating
to use and operation of the NEAT trading system shall mutatis mutandis be
applicable to the use and operation of the CTCL / facility.
2.25 A member shall ensure that the guidelines issued by SEBI in relation to
internet based securities trading and services are strictly adhered to, more
particularly relating to
2.25.1 Any system used by a member shall have necessary provision for
security, reliability and confidentiality of data through the use of suitable
encryption technology;
2.25.2 Maintaining adequate backup systems and data storage capacity by a
member besides putting in place alternative means of communication in case of failure in internet
connectivity / link;
2.25.3 Sending order / trade confirmation to the investor through email at
clients discretion at the time period specified by the clients in addition to
the other mode of display of such confirmation on real time basis on the
website of the member. The investor
shall be allowed to specify the time interval on the website within which the
investor would like to receive the confirmation through email. Facility of reconfirmation of orders which
are larger than that specified by the members risk management system shall be
provided on the internet based system.
2.26 A member shall ensure that the following security measures are inbuilt
in the software / system:
2.26.1 User
2.26.2 First level password (Private code).
2.26.3 Automatic expiry of passwords at the end of reasonable duration. Reinitialise access on entering fresh
password.
2.26.4 All transaction logs with proper audit facilities to be maintained in
the system.
2.26.5 Secured Socket Level Security for server access through internet.
2.26.6 Suitable Firewalls between trading set-up
directly connected to an Exchange trading system and the Internet trading set
up.
2.26.7 Integrating any advanced level security as specified by NSE / SEBI from
time to time.
2.26.8 Adherence to the following systems operations procedure :
2.26.8.1 Follow identical logic / priorities used by the Exchange to treat
client orders.
2.26.8.2 Maintain all activities / alerts log with audit trail facility.
2.26.8.3 Unique numbering generation by the Web-server for all clients orders / trades.
2.27 The member shall follow and comply with such orders or instructions
including any such order or instruction, as may be issued by the Exchange or
any committee of the Exchange duly constituted for the purpose, in the event of
the member committing any violation of any Rules,Bye Laws,regulation,CTCL
scheme or practice or code of conduct prescribed by the Exchange in respect of
the conduct of the business in the Exchange and those maybe in force from time
to time.
3)
RIGHTS OF THE EXCHANGE
3.1
The Exchange may, at its
discretion, make the CTCL facility available from any location, as may be
notified by the Exchange from time to time (hereinafter referred to as the receiving
premises), to a member, and the member shall be responsible and required to
establish connectivity with such receiving premises at his cost.
3.2
The Exchange may, at its
discretion, make the CTCL facility available to the member upto such time as the
Exchange may deem fit and that the CTCL facility may, at any time, be
withdrawn, at its discretion by the Exchange, without giving any notice /
reference to the member and / or reasons whatsoever.
3.3
The Exchange shall, at its
discretion, have an absolute right to inspect the software used by any member
either in his / its own office and / or extended such facility at any other
location, at any time and without prior notice.
3.4
A member shall render and / or
shall cause to render all possible
assistance and cooperation to the official of the Exchange by providing access
to any kind of information in any form as such official may require at any
location whether details of such location are uploaded or not, and shall
produce such documents, records, accounts, books, data etc, howsoever stored,
including data stored in magnetic tapes, floppy diskettes etc., and provide any
other information as may be required by the Exchange.
3.5
Without prejudice to any other
right under any law for the time being in force or which may become applicable
at any time, the Exchange shall have the exclusive right to take, at its
discretion, such actions, steps, measures, proceedings, decisions within such
period of time and upon such conditions and / or requirements as the Exchange may deem fit upon any member
non-complying and / or delaying in
compliance and / or failing to comply with any of the conditions and / or requirements contained in this scheme and /
or amendments thereto or upon suspension or termination of any member on any
account whatsoever. It is understood
that such actions, steps, proceedings, decisions may interalia include
immediate withdrawal of use of CTCL facility accessing the trading system of
the Exchange, without notice / reference to the member and / or such
disciplinary action as the Exchange may deem fit and that the member shall
abide by and be bound by such actions, steps, measures, proceedings, decisions
as may be initiated by the Exchange from time to time.
3.6
No forbearance, delay or
indulgence by the Exchange in enforcing any of the conditions and / or
requirements contained in this scheme and / or amendments thereto and / or
under the Bye-laws, Rules, Regulations and Circulars, shall prejudice and / or
restrict the rights of the Exchange nor shall any waiver of the right of the
Exchange operate as a waiver of any subsequent breach. No right, power or remedy herein conferred
upon or reserved for the Exchange is exclusive of any other right, power or
remedy available to the Exchange and that each such right, power or remedy
shall be cumulative.
3.7
The Exchange has and shall
have an absolute right to add, modify, amend and / or delete any of the
conditions and / or requirements contained in this scheme and such additions,
modifications, amendments and / or deletions shall be applicable and come into
force as may be notified by the Exchange from time to time and that every
member and / or every approved person associated with the member shall abide
and / or be bound by such additions, modifications, amendments and / or
deletions as if such additions, modifications, amendments and / or deletions
are part of this scheme.
4. GENERAL
4.1
Non-Exclusivity
The CTCL facility made available to any member by
the Exchange shall be on a non-exclusive basis and shall be available only at
the discretion of the Exchange.
4.2
Notice of withdrawal by member
4.2.1 A member may be entitled, by giving one months written notice, to
request the Exchange to withdraw the CTCL facility. Such withdrawal shall be subject to such
conditions and / or requirements as may be stipulated by the Exchange,
including payment of such amount to and / or by the Exchange, as may be decided
by the Exchange at its discretion.
4.2.2 A member is aware that the Exchange is the absolute owner of the proprietary
rights in respect of the APIs entrusted to the member for the purpose of
developing the software and that he shall not duplicate, sell,
assign, license or part in any other mode and / or method for consideration or
otherwise and / or transfer the APIS to any third party any time.
4.2.3 A member is aware that in case the Exchange rejects the
application for developing software for availing the CTCL facility or the
member withdraws the application for developing the software, the member shall
return immediately, without any demur, the APIs to the Exchange.
4.2.4 The member shall forthwith inform the Exchange in writing as and when
any notice is received by the member in connection with any institution of
winding up proceedings against the member and that the member shall inform the
Exchange in writing before the member initiate any winding up proceedings to be
wound up. The member further undertakes, that it shall inform the Exchange in
writing on the onset of any circumstance which is likely to or may render the
member to be wound up or which is likely to or may render the member liable to
be subject to winding up proceedings.
4.3
Indemnifying the Exchange
A member shall be deemed to have indemnified and
keep indemnified the Exchange harmless against every and all claims, demand,
damages, liabilities, losses and / or expenses suffered by such member directly
by reason of the use and / or non-use of the CTCL facility by any member /
approved person and / or by reason of any member / approved person not
complying with and / or delaying in compliance with and / or failure in
compliance with and / or contravening with any of the conditions and / or
requirements contained in this scheme and / or amendments thereto, including in
relation to the proprietary rights of API vested in the Exchange .
4.4
No warranty by the Exchange
A member agrees and is fully aware that the
Exchange does not, in any manner, warrant that the use
of the CTCL facility, accessing the trading system of the Exchange, will be
error-free and / or uninterrupted.
4.5
No liability to the Exchange
The Exchange shall not, in any way, be responsible
for development, maintenance, updates, upgrades, error fixes or any other
support to the software being used for CTCL facility by any member and shall
not be liable for any loss suffered by any member due to the use of software
for extending the CTCL facility.
Also, the Exchange shall, in no way, be liable for
any direct and / or indirect damage, costs, claims and / or expenses
whatsoever, in connection with
4.5.1 Mechanical or electrical or telephone or network breakdown or power
failure or malfunction of any of the servers or auxiliary equipment used by a
member and / or any other cause beyond the reasonable control of the Exchange.
4.5.2 Special direct / indirect economic or consequential loss or damage
including, but not limited to loss of profit, business revenue, opportunity
costs, goodwill or anticipated saving.
4.5.3 Any event of a force majeure.
For the purpose 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 / or any concerned State Government
and any such other acts or events beyond the control of the Exchange. Further, this will not be prejudicial to the
rights already accrued to the Exchange due to failure by any member to perform
either in full or in part any of the obligations prior to the occurrence of the event of Force
Majeure.
4.6
No guarantee
It is clearly understood that neither the Exchange
nor the directors, managers, officers, employees or agents of the Exchange
guarantee the functioning of the CTCL facility nor
uninterrupted connectivity to the trading system of the Exchange. The Exchange
and the directors, managers, officers, employees and agents of the Exchange
shall not be, in any way, liable to any member and / or his / its approved
person or to any other person for any problem in performance or interruption of
CTCL facility or for any damages, consequential or otherwise, arising therefrom
or occasioned thereby. No proceedings
shall be issued by any member / approved person / third party against the
Exchange or against any of the directors, managers, officers or employees of
the Exchange for any act of commission or omission done in discharge of
official functions.
4.7
Applicability of this scheme
This scheme shall be applicable not only to the
information services and terminal equipment already offered by any member to any approved person but shall also be
applicable to any information services and terminal equipment that may be
developed by any member in future, even if any member has either altered and /
or intends to alter mode of supplying information to any approved person,
except where the member has obtained permission, in writing, for such
alteration with complete details, from the Exchange.
Annexure
-3
CHECKLIST OF DOCOUMENTS TO BE SUBMITTED ALONGWITH APPLICATION FOR CTCL
FACILITY
|
Sr.
no. |
Particulars |
|
1 |
Prescribed Undertaking executed on Rs 300 stamp paper |
|
2 |
Stamp paper issued in name
of member |
|
3 |
Undertaking is executed
within 6 months of date of stamp paper purchase |
|
4 |
All pages of undertaking are
duly notarized. |
|
5 |
Board Resolution is
attached. |
|
6 |
Persons as authorized by
board resolution have signed the undertaking. |
|
7 |
Empanelled vendors
confirmation letter is attached. |
|
8 |
Duly notarized network
diagram is attached. |
Annexure
- 4
CHECKLIST OF DOCOUMENTS TO BE SUBMITTED ALONGWITH APPLICATION FOR
INTERNET BASED TRADING FACILITY
|
Sr. no. |
Particulars |
|
1 |
Application is executed on letter head |
|
2 |
Net worth certificate is attached (for the last financial
year ended and / or half year ended, whichever is later) |
|
3 |
Net worth mention in the application is per
certificate attached |
|
4 |
Certificate on backup system and data storage |
|
5 |
Network Diagram enclosed |
|
6 |
Comprehensive write up on internet trading
system |
|
7 |
Application signed by authorized signatories. |
|
8 |
Annexure 1 of Internet based trading executed on
letterhead of empanelled vendor |
|
9 |
Annexure 1 has been signed by vendor and countersigned
by member |
|
10 |
SSL certificate is attached |
|
11 |
Name of url on website
is tallying with SSL certificate |
|
12 |
NCFM certificates enclosed for all employees
named in the application |
Annexure - 5
Application form
for permission for provision of CTCL based trading services
(To be given on letterhead of the
Member)
Date:
To
The CTCL
Department
National
Stock Exchange of India Ltd
Bandra
Kurla Complex
Mumbai
400 051
Sub: Conversion of user
id from NEAT to CTCL
Please
convert the following user id from NEAT to CTCL
|
Segment |
TM Code |
TM Name |
User id |
VSAT / LL |
Pro trading facility enabled * |
|
|
|
|
|
|
Y/N |
I confirm that that the above id is a Dealer id (not a Branch
Manager or Corporate Manager id) and that there is no other CTCL id on the
above mentioned Vsat / leased line.
We are also attaching a confirmation letter from NSEIL
empanelled vendor M/s
.to activate the id for CTCL / Internet based trading.
Regards,
Sd/
Proprietor
/ Partners / Director
* In
case of user id enabled for proprietary account trading please attach an undertaking
as per our Circular No NSE/CMO/0070/2003
dated November 06, 2003.
Annexure 6
REFERENCE POINTS WHILE DEVELOPING CTCL SOFTWARE
|
A |
Order
Management |
|
1 |
Order
entry- attributes |
|
2 |
Book
Types |
|
3 |
Order
confirmation |
|
4 |
Order
status |
|
5 |
Order
modification |
|
6 |
Order
cancellation |
|
7 |
Outstanding
orders |
|
8 |
Order history
/ reports |
|
|
|
|
B |
Trade
management |
|
1 |
Trade
confirmation |
|
2 |
Trade
Reports |
|
3 |
Trade
modification |
|
4 |
Trade
cancellation |
|
|
|
|
C |
Risk
Management |
|
1 |
Order
quantity limit |
|
2 |
Order
value limit |
|
3 |
Security
wise order qty. & value limit |
|
|
|
|
D |
Auctions
& Exercise |
|
1 |
Auction
order entry |
|
2 |
Auction
order cancellation |
|
3 |
Auction
order enquiry |
|
4 |
Exercise
of Options |
|
|
|
|
E |
Client
information |
|
1 |
Client
code structure |
|
2 |
Display
of client position |
|
|
|
|
F |
Security
& Compliance related |
|
1 |
Password
protection |
|
2 |
Lock-in
mechanism for inactive users |
|
3 |
Security
of login session |
|
4 |
Display
of Trading member code and user id |
|
5 |
Mandatory
collection of margins |
|
6 |
Display
of Exchange user id and TM name on
trader workstation |
|
|
|
|
G |
Internet
Trading |
|
1 |
Full
name and SEBI registration no. on website |
|
2 |
Display
of Investor protection rule, Arbitration rule and rules effecting member -
client relationship |
|
3 |
Display
of Risk disclosure documents |
|
4 |
Order
& Trade confirmation through email |
|
5 |
Default
client code while order entry |