The Bombay Stock Exchange (BSE) on December 28, 2023, issued a notification regarding Trading supported by Blocked Amounts in Secondary Market – UPI Mechanism – Brokerage.
The following has been stated: -
•On June 23, 2023, SEBI issued a circular on “Trading Supported by Blocked Amount in Secondary Market” (Circular reference no. SEBI/HO/MRD/MRD-PoD-2/P/CIR/2023/99).
•From the implementation perspective of the said circular, all MIIs have deliberated on standard operating procedures to be followed, and the same was disseminated to members under notice no 20231012-57.
•Member API Specification for UPI Mechanism was disseminated to members under notice no 20231116-51.
•NPCI Reference Document for members to connect to UPI Block Mechanism functionality was issued under notice no. 20231116-52.
•For Member API testing purposes ‘Test Environment’ details were issued to members under notice no 20231130-61.
•In the extant operating guidelines for trading supported by blocked amounts in the secondary market, the members have the option of collecting charges other than trade obligations, stamp duty, and STT using the mechanism provided by ICCL.
The detailed notification is given in the document attached below.
[Notice No. 20231228-28]
