The National Stock Exchange of India Limited (NSE) on March 27, 2023, issued a notification regarding the Settlement of the Running Account of the Client’s Funds lying with the Trading Member (TM).
The following has been stated namely: -
• The members are required to carry out the settlement of the running account of clients’ funds on the first Friday of the Month/Quarter as per the preference opted by the client and if the first Friday is a trading holiday, then such settlement shall happen on the previous trading day.
• The first Friday of the Quarter of April – June 2023 (i.e. April 7, 2023) being a trading holiday, the settlement of the running account of the client’s funds in accordance with aforesaid circulars shall be carried out by members on the previous trading day i.e. April 6, 2023 (Thursday)
• Based on the data submitted by the members for the last quarter January – March 2023, it has been observed by the Exchange that values of certain data points such as the value of funds retained, the value of funds settled, etc. were incorrectly reported by certain members.
• In view of the same, clarifications/guidelines on data points being reported are provided. Members are requested to ensure the same while making these submissions to the Exchange.
• Annexure 1 attached to the notification states the clarifications/guidelines on data points being reported
[Notification No. 26/2023]
