The National Stock Exchange (NSE) on May 16, 2024, issued the notification regarding the Operational guidelines and SOP on Upstreaming of clients’ funds by Stock Brokers (SBs)/Clearing Members (CMs) to Clearing Corporations (CCs).
The following has been stated namely: -
• The Operational guidelines and SOP for monitoring the implementation of provisions under the “Upstreaming of clients’ funds by Stock Brokers (SBs)/Clearing Members (CMs) to Clearing Corporations (CCs)” (including determination of cut-off times) framed by Broker’s Industry Standards Forum (ISF) and relevant stakeholders in consultation with SEBI has been stated
• The Operational Guidelines with respect to the Upstreaming of Clients fund is attached to Annexure I
[Notification No. NCL/CMPL/62058]
