To follow highest standards of ethics and compliances while facilitating the trading by clients in securities in a fair and transparent manner, so as to contribute in creation of wealth for investors.
S.No. | Activities | Expected Timelines |
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1. | KYC entered into KRA System and CKYCR | 3 working days of account opening |
2. | Client Onboarding | Immediate, but not later than one week |
3. | Order execution | Immediate on receipt of order, but not later than the same day |
4. | Allocation of Unique Client Code | Before trading |
5. | Copy of duly completed Client Registration Documents to clients | 7 days from the date of upload of Unique Client Code to the Exchange by the trading member |
6. | Issuance of contract notes | 24 hours of execution of trades |
7. | Collection of upfront margin from client | Before initiation of trade |
8. | Issuance of intimations regarding other margin due payments | At the end of the T day |
9. | Settlement of client funds | First Friday/Saturday of the month/quarter as per Exchange pre-announced schedule |
10. | ‘Statement of Accounts’ for Funds, Securities and Commodities | Monthly basis |
11. | Issuance of retention statement of funds/commodities | 5 days from the date of settlement |
12. | Issuance of Annual Global Statement | 30 days from the end of the financial year |
13. | Investor grievances redressal | 21 calendar days from the receipt of the complaint |
DOs | DON’Ts |
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Read all documents and conditions being agreed before signing the account opening form. | Do not deal with unregistered stock broker. |
Receive a copy of KYC, copy of account opening documents and Unique Client Code. | Do not forget to strike off blanks in your account opening and KYC. |
Read the product / operational framework / timelines related to various Trading and Clearing & Settlement processes. | Do not submit an incomplete account opening and KYC form. |
Receive all information about brokerage, fees and other charges levied. | Do not forget to inform any change in information linked to trading account and obtain confirmation of updation in the system. |
Register your mobile number and email ID in your trading, demat and bank accounts to get regular alerts on your transactions. | Do not transfer funds, for the purposes of trading to anyone other than a stock broker. No payment should be made in name of employee of stock broker. |
If executed, receive a copy of Demat Debit and Pledge Instruction (DDPI) However, DDPI is not a mandatory requirement as per SEBI / Stock Exchanges. Before granting DDPI, carefully examine the scope and implications of powers being granted. | Do not ignore any emails / SMSs received with regards to trades done, from the Stock Exchange and raise a concern, if discrepancy is observed. |
Receive contract notes for trades executed, showing transaction price, brokerage, GST and STT/CTT etc. as applicable, separately, within 24 hours of execution of trades. | Do not opt for digital contracts, if not familiar with computers. |
Receive funds and securities/commodities on time, as prescribed by SEBI or exchange from time to time. | Do not share trading password. |
Verify details of trades, contract notes and statement of account and approach relevant authority for any discrepancies. Verify trade details on the Exchange websites from the trade verification facility provided by the Exchanges. | Do not fall prey to fixed/guaranteed returns schemes. |
Receive statement of accounts periodically. If opted for running account settlement, account has to be settled by the stock broker as per the option given by the client (Monthly or Quarterly). | Do not fall prey to fraudsters sending emails and SMSs luring to trade in stocks / securities promising huge profits. |
In case of any grievances, approach stock broker or Stock Exchange or SEBI for getting the same resolved within prescribed timelines. | Do not follow herd mentality for investments. Seek expert and professional advice for your investments |
Retain documents for trading activity as it helps in resolving disputes, if they arise. |
1. | Investor complaint/Grievances | Investor can lodge complaint/grievance against stock broker in the following ways: Mode of filing the complaint with stock broker Investor can approach the Stock Broker at the designated Investor Grievance e-mail ID of the stock broker. The Stock Broker will strive to redress the grievance immediately, but not later than 21 days of the receipt of the grievance Mode of filing the complaint with stock exchanges
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2. | Online Dispute Resolution (ODR) platform for online Conciliation and Arbitration | If the Investor is not satisfied with the resolution provided by the Market Participants, then the Investor has the option to file the complaint/grievance on SMARTODR platform for its resolution through online conciliation or arbitration. |
3. | Steps to be followed in ODR for Review, Conciliation and Arbitration |
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Following steps are carried out by Stock Exchange for benefit of investor, in case stock broker defaults:
Following information is available on Stock Exchange website for information of investors: