9911796707
TMI BlogMeeting of all the Stock Exchanges- January 17, 2001X X X X Extracts X X X X X X X X Extracts X X X X ..... Meeting of all the Stock Exchanges- January 17, 2001 SEBI had convened a meeting of all the stock exchanges on January 17, 2001. Pursuant to the discussions in the meeting, the following decisions have been taken : 1. Client Code Vide circular no. SMDRP/POLIC/CIR-33/2000 dated July 27, 2000 all the stock exchanges were directed to modify their software in such a way that client code becomes ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l have to closedown trading from March 31, 2001, in case, they fail to comply with this directive by that date. c. The stock exchanges which currently do not have any trading, shall implement the requirement of client code before trading commences at the exchange. 2. MCFS and ALBM margins The margins on MCFS and ALBM are required to be collected on gross basis. At present, this is being done ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... notified guidelines for use of secondary market route for initial public offers in "Guidelines for offering securities in public issues through the Stock Exchange mechanism. DIP (Compendium) Series Circular No. 5 dated November 30, 2000". The copy of the guidelines are enclosed herewith. These guidelines will also be available for the issue of debentures. (b) In partial amendment to the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s, FIIs, MFs shall maintain a deposit with the broker in the form of cash, bank guarantees, FDRs or approved securities which shall not be less than 10% of the net open positions of the client at any point of time. To ensure compliance with this requirement, the stock exchanges shall obtain an auditors' certificate to this effect from all brokers on a quarterly basis. The brokers in turn, shal ..... X X X X Extracts X X X X X X X X Extracts X X X X
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