The National Stock Exchange (NSE) on October 31, 2023, issued the Penalty Provisions for trading terminals without having valid certification.
The following has been stated namely: -
• The revised penalty structure is prescribed for “Operation of trading terminal by user without valid certification” for Cash segment as well as Derivative Segments.
• The Exchange shall disable/deactivate the user ids/trading terminals of all approved persons (NEAT as well as 12-digit NNF terminals) having expired certification or not meeting certification requirement as specified by SEBI/Exchange from time to time as on End of Day (EOD) of November 01, 2023.
• The timeline for disablement of terminals has been extended by two months.
• Now, the user ids/trading terminals of all approved persons (NEAT as well as 12-digit NNF terminals) having expired certification or not meeting certification requirement shall be disabled/deactivated as on End of Day (EOD) of January 01, 2024.
• The Exchange, on an ongoing basis, at EOD shall disable the user id of all approved persons for which the certificate has expired, and renewal of the said certificate has not been updated in the Exchange database/records.
• The penalty structure applicable as prescribed shall continue to be applicable till December 31, 2023.
[Notification No. NSE/INSP/59173]
