The Bombay Stock Exchange (BSE) on March 13, 2024, notified regarding the Discontinuation of Reporting of Client Level Cash and Cash Equivalent Balances.
In order to utilize the submission by Exchanges for supervisory activities and with an objective to discontinue the Cash and Cash Equivalent submission being reported by trading members to Exchanges, Clearing Corporations in consultation with Exchanges had revised the reporting format of segregation and monitoring of collateral at client level with inclusion of certain additional columns/details which are reported in Cash & Cash Equivalent submission.
As the Exchange has started using such submission for the supervisory activities and in order to ease out the compliance burden of the members, the Exchange has decided to discontinue the requirements of reporting of day wise Client Level Cash and Cash Equivalent Balances by members from March 18, 2024 and accordingly, period of last submission which would be applicable to members for weekly Cash and Cash Equivalent Balances reporting shall be week ending March 16, 2024 due date of the same shall be March 21, 2024.
However, members are strictly advised to report correct data in the segregation and monitoring of collateral at client level submission to their Clearing Members or Clearing Corporations as case may be, in accordance with the guidelines issued by Clearing Corporations/ Exchanges from time to time.
In light of discontinuation of Cash & Cash Equivalent submission, the financial ledger balance (Clear) of Saturday as reported by members in submission of segregation and monitoring of collateral at client level to Clearing Corporations/Clearing Members on daily basis and securities/ commodities holding of Saturday as reported by members in Holding Statement to the Exchange on daily basis shall be disseminated by the Exchange to the clients via SMS/Emails on as is basis from the week ending March 02, 2024 and thereafter.
Further, it has been observed that certain members are not making submission of segregation and monitoring of collateral at client level to Clearing Members /Clearing Corporations of Saturday. In view of the same, members are advised to ensure that submission of segregation and monitoring of collateral at client level of Saturday is also made to Clearing Members /Clearing Corporations.
[Notice No. 20240313-35]
