The Bombay Stock Exchange (BSE) on June 22, 2023, issued a notification regarding the Upstreaming of clients’ funds by Stockbrokers (SBs)/Clearing Members (CMs) to Clearing Corporations (CCs).
The members are requested to follow the standard operating procedure mentioned below:
• Collateral placement in the form of FDR with ICCL
• Collateral placement in the form of MFOS Units with ICCL
• Collateral placement & release in the form of ‘CASH’ with ICCL
• Collateral release for any form ‘other than CASH’ with ICCL
• Collateral allocation in any form with ICCL
• Release of securities to meet a pay-in obligation
• Release of funds to meet a pay-in obligation
[Notice No. 20230622-43]
