Terms Of Use
General
Bajaj Capital Investor Services Limited (BCISL) is a
company incorporated under the Indian Companies Act, 1956 having its
registered office address at 5th Floor, Bajaj House, 97, Nehru Place, New
Delhi -110019 and maintains www.justtrade.in (hereinafter referred to as
the "Site") and owns, has the license to use or otherwise has the right to
use, free of any pending or threatened liens, all content, graphics, HTML
and CGI or other scripts displayed and used on the Site.
The Site is owned by BCISL,
the disclaimer is for the benefit of BCISL as much as for BCISL's Group
Company (ies).
The use of the website by the Customer / Investor /
Client shall mean that He / She / It agrees with the following Terms Of
Use.
1. BCISL
has launched and established an online trading service on the site
(hereinafter referred to as the "Service"). BCISL has the exclusive and
sole prerogative and discretion to select the
Customer(s)/investor(s)/Client(s) who would be entitled to use, access and
benefit out of the Service. BCISL also reserves in its absolute discretion
to decide on the criteria for selecting the
Customer(s)/Investor(s)/Client(s) to participate in the Service offered
hereunder.
2. The offering of the
Service is subject to the requisite permissions, approvals, licenses and
any other clearance from the appropriate regulatory authority viz.,
Securities and Exchange Board of India, National Stock Exchange of India
Limited, and any other relevant authority that may be the regulatory
authority of the Service.
3. The Service offered by
BCISL envisages a Customer/Investor/Client opening an electronic
investment account in respect of which the Customer/Investor/Client shall
be called upon to pay only the account opening charges (hereinafter
referred to as the "Offer"). This Offer shall remain valid only for such
period as may be determined by BCISL. BCISL also reserves the absolute
right to decide on the duration of the period during which the Offer shall
be available. BCISL need not and does not and will not undertake to notify
the withdrawal of the Offer.
4. This Service on the Site
does not constitute an offer to sell or a solicitation to any person in
any jurisdiction where it is unlawful to make such an offer or
solicitation. This Service is not intended to be any form of an investment
advertisement, investment advice or investment information and has not
been registered under any securities law of any foreign jurisdiction and
is only for the information of any person in any jurisdiction where it may
be lawful to provide such information, otherwise the same shall not be
considered an information. The distribution of this Service or content in
other jurisdictions may be restricted by law and the persons who access
the Service should inform themselves about, and observe, any such
restrictions. By accessing and surfing this Site, the
Customer/Investor/Client agrees to be bound by the aforesaid
limitations.
5. No
information, market analysis, research report, etc. on the Site is to be
construed as a representation with respect to shares, securities or other
investment regarding the legality of an investment therein under the
respective applicable investment or similar laws or regulations of any
person or entity accessing the Site.
6. This Service is provided on an "As Is" basis.
BCISL and/or its Group Company(ies) disclaim any warranty of any kind,
imputed by the laws of any jurisdiction, whether express or implied, as to
any matter whatsoever relating to the Service, including without
limitation the implied warranties of merchantability, fitness for a
particular purpose, and non infringement. BCISL and the Service and the
Offer are subject to the jurisdiction only of the courts of the Republic
of India at New Delhi.
7. Use of the Service is at any persons, including a
Customer's/Investor's/Client's, own risk. The data and information
provided on the Site should not be construed as an advice, professional or
otherwise, and should not be relied upon as such. Neither the information,
nor any opinion contained in this Site constitutes a solicitation or offer
by BCISL to buy or sell any securities, futures, options or other
financial instruments or provide any investment advice or service. The
investments discussed or recommended (if any) in the market analysis,
research reports, etc. may not be suitable for all
customers/investors/clients. Customers/Investors/Clients must make their
own investment decisions based on their specific investment objectives and
financial position and using such independent advisors as they believe
necessary. Customers/Investors/Clients are advised to go through all
relevant offer documents of the respective investment options, before
taking an investment decision. Information contained/provided herein is
believed to be reliable but BCISL does not warrant its completeness or
accuracy. The content of the articles and the interpretation of data are
solely the personal views of the contributors and do not in any way
reflect the views of BCISL. Users/Readers are advised to peruse the
articles and other data in the Site only as information and to rely on
their own judgment when/while making investment decisions.
8. Neither BCISL nor its
Group Companies shall be precluded from making any contract or entering
into any arrangement or transaction with the companies mentioned herein or
with itself in the ordinary course of business or from undertaking any
financial, agency services and/or otherwise for the companies or for
itself or from underwriting or guaranteeing the subscription of or placing
or subscribing for or otherwise acquiring, holding or dealing with any of
the stocks or shares or debentures or debenture stocks or any other
securities whatsoever of the companies or in which the companies may be
interested, either with or without a commission, or other remuneration or
otherwise, at any time entering into any contract of loan or deposit or
any other contract or arrangement or transaction with the companies or
being concerned or interested in any such contract or arrangement or
transaction which any other company or person would be entitled to enter
into with the companies and they shall not be in anyway liable to account
either to the companies or any person visiting or accessing the Site
including a Customer/Investor/Client of the Service for any profits made
by them thereby or in connection therewith and the BCISL shall also be
allowed to retain for their or his own benefit any customary share of
brokerage, fee, commission, interest, discount or other compensation or
remuneration allowed to them.
9. BCISL along with its
directors, employees, associates or other representatives and its Group
Companies along with its directors, employees, associates or other
representatives shall not be liable for damages or injury arising out of
or in connection with the use of the Site or its non-use including
non-availability, compensatory, direct, indirect or consequential damages,
loss of data, income or profit, loss of or damage to property (including
without limitation loss of profits, loss or corruption of data, loss of
goodwill, work stoppage, computer failure or malfunction, or interruption
of business; under any contract, negligence, strict liability or other
theory arising out of or relating in any way to the Site, site-related
services, or any products or services and claims of third parties damages
or injury caused by any performance, failure of performance, error,
omission, interruption, deletion, defect, delay in operation or
transmission, computer virus, communications line failure, theft or
destruction or unauthorized access to, alteration of, or use of
information, whether resulting, in whole or in part, from or relating to
any of the services offered or displayed by BCISL on the Site.
10. BCISL makes no
guarantees or representations as to, and shall have no liability for, any
electronic content delivered by any third party, including, without
limitation, the accuracy, subject matter, quality or timeliness of any
electronic content on the Site. BCISL shall not be responsible for the
contents of any linked site or any link contained in a linked site, or any
changes or updates to such sites. The links being provided to the
Customer/Investor/Client is/are only for convenience, and the inclusion of
any link does not imply endorsement by BCISL of the site, or its content
or the sponsoring company/person. By providing access to other sites,
BCISL is not recommending the purchase or sale of the securities issued by
it nor is it an endorsement of services provided by its sponsoring
company/person.
11. The maximum liability,
if any, of BCISL to the Customer/Investor/Client shall be subject to the
amount of fees paid by the Customer/Investor/Client for the services that
he/she/it may have availed of through the Site or in pursuance of the
Offer or the Service.
12.
BCISL shall not be liable for any misrepresentation, falsification, and
deception or for any lack of availability of services through the Site,
even if the same are advertised for on the Site.
13. No judgment or warranty
or representation is made with respect to the accuracy, timeliness, or
suitability of the content of other services or sites to which these
screens link, and BCISL shall not be responsible therefor.
14. BCISL shall not be
liable if the Customer/Investor/Client downloads any information or
software from this Site. Further, BCISL or any of its Group Company shall
not be liable if the Customer/Investor/Client and/or any other visitor to
Site makes a copy, modifies, uploads, downloads, transmits, (re) publishes
it or removes or obscures any intellectual property, including trademarks,
service marks, copyright or other notices or legends contained in any such
information or otherwise distributes any service or content from this
Site. BCISL shall not bear the responsibility if the
Customer/Investor/Client modifies or uses the content or services
he/she/it gets from this Site for any purpose other than those permitted,
and in doing so violates the intellectual property including trademarks,
service marks, copyright and other proprietary rights of BCISL.
15. The Site contains
features of the services that are currently being offered by BCISL and
those which may be offered in the future. However, BCISL would comply with
all the regulatory requirements and in doing so the final features of the
Services appearing currently may contain variations. Notwithstanding
anything contained in the Site regarding the Services, BCISL may decide to
postpone the offering of the Services or may even decide to withdraw the
offering or even a currently offered service altogether.
16. This disclaimer shall be
applicable to any person visiting/accessing the Site and/or a
Customer/Investor/Client entering into an agreement related to availing of
the Service offered by BCISL.
17. Customer/Investor/Client
and others acknowledge that any warranty that is provided in connection
with any of the products or services described herein is provided solely
by the owner, advertiser, manufacturer or supplier of that product and/or
service, and not by BCISL. BCISL does not warrant that your access to the
site and/or related services will be uninterrupted or error-free, that
defects will be corrected, or that this Site or the server that makes it
available is free of viruses or other harmful components. Access to and
use of this Site and the information is at your risk and BCISL does not
undertake any accountability for any irregularities, viruses or damage to
any computer that results from accessing, availing or downloading of any
information from this Site. BCISL does not warrant or make any
representations regarding the use or the results of the use of any product
and/or service purchased/availed in terms of its compatibility,
correctness, accuracy, reliability or otherwise. You assume total
responsibility and risk for your access/use of this Site and site-related
services.
18. A possibility exists
that the Site could include inaccuracies or errors. Additionally, a
possibility also exists that unauthorised additions, deletions or
alterations could be made by third parties to the Site. Although, BCISL
attempts to ensure the integrity, correctness and authenticity of the
Site, it makes no guarantees whatsoever as to its completeness,
correctness or accuracy. In the event that such an inaccuracy arises,
please inform BCISL so that we can take all reasonable steps/efforts in
correcting the same.
19. The price and value of
investments and the income derived from them can go down as well as up,
and you may not get back the amount you invest. Changes in the rate of
exchange may have an adverse effect on the value, price and income of
investments in deposits other than your own. Past performance is not
necessarily a guide to future performance. The services and investments
referred to in our Site may have tax consequences and it is important to
bear in mind that BCISL does not provide tax advice. The level of taxation
depends on individual circumstances and such levels and bases of taxation
can change. Customers/Investor/Clients are advised to consult your own tax
advisor in order to understand any applicable tax consequences.
20. BCISL does not make any
personal recommendations to invest in various securities offered through
the Site. The information on our Site is provided solely to enable
Customers/Investors/Clients to make their own investment decisions and
does not constitute a recommendation to buy, sell or otherwise deal in
investments. Our Services and the securities we offer may not be suitable
for all Customers/Investors/Clients and, if you have any doubts, you
should seek advice from an independent financial adviser.
21. You agree and
acknowledge that no joint venture, partnership, employment or agency
relationship exists between you and BCISL as a result of this agreement or
on account of use of our Site.
22. Transactions between you
and BCISL shall be governed by and construed in accordance with the laws
of India, without regard to the laws regarding conflicts of law. Any
litigation regarding this agreement or any transaction between
Customer/Investor/Client and BCISL/Site or any action at law or in equity
arising out of or relating to these agreement or transaction shall be
filed only in the Competent Courts of New Delhi alone and the
Customer/Investor/Client hereby agrees, consents and submits to the
jurisdiction of such courts for the purpose of litigating any such
action. We have read and understood the above
terms and conditions and accept to abide by the same.
Stock Trading
TERMS AND CONDITIONS FOR
TRADING IN CAPITAL MARKET AND F&O SEGMENT OF THE NATIONAL STOCK
EXCHANGE (NSE)
Customer/Investor/Client
acknowledges having entered into the Agreement between Stock Broker and
Client (NSE) ('Agreement') between Bajaj Capital Investor Services Limited
(referred to as Stock Broker in the said Agreement) and himself/herself
(referred to Client in the said Agreement) and has executed a Power of
Attorney (POA) in favour of Bajaj Capital Investor Services Limited and in
pursuance of the said Agreement and POA the Customer/Investor/Client
agrees to be bound by the said Agreement and the POA.
For the convenience of the
Customer/Investor/Client, the Combined Risk Disclosure Documents for
Capital Market/Cash Segment and Futures and Options Segment and the
Investors Rights and Obligation is reproduced here in below.
Customer/Investor/Client
undertakes to have read the same. Further, acknowledges that BCISL shall
have the right to revise the same, if required under applicable laws.
COMBINED RISK DISCLOSURE
DOCUMENT FOR CAPITAL MARKET/CASH SEGMENT AND FUTURES & OPTIONS SEGMENT (TO BE GIVEN BY THE
BROKER TO THE CLIENT)
This document is issued by
the member of the National Stock Exchange of India (hereinafter referred
to as "NSE") which has been formulated by the Exchanges in coordination
with the Securities and Exchange Board of India (hereinafter referred to
as "SEBI") and contains important information on trading in Equities and
F&O Segments of NSE . All prospective constituents should read this
document before trading on Capital Market/Cash Segment or F&O segment
of the Exchanges. NSE /SEBI does neither singly or jointly and expressly
nor impliedly guarantee nor make any representation concerning the
completeness, the adequacy or accuracy of this disclosure document nor has
NSE/SEBI endorsed or passed any merits of participating in the trading
segments. This brief statement does not disclose all the risks and other
significant aspects of trading. In the light of the risks involved, you
should undertake transactions only if you understand the nature of the
contractual relationship into which you are entering and the extent of
your exposure to risk. You must know and appreciate that investment in
Equity shares, derivative or other instruments traded on the Stock
Exchange(s), which have varying element of risk, is generally not an
appropriate avenue for someone of limited resources/limited investment
and/or trading experience and low risk tolerance. You should therefore
carefully consider whether such trading is suitable for you in the light
of your financial condition. In case you trade on NSE and suffer adverse
consequences or loss, you shall be solely responsible for the same and
NSE, its Clearing Corporation/Clearing House and/or SEBI shall not be
responsible, in any manner whatsoever, for the same and it will not be
open for you to take a plea that no adequate disclosure regarding the
risks involved was made or that you were not explained the full risk
involved by the concerned member. The constituent shall be solely
responsible for the consequences and no contract can be rescinded on that
account. You must acknowledge and accept that there can be no guarantee of
profits or no exception from losses while executing orders for purchase
and/or sale of a security or derivative being traded on NSE. It must be
clearly understood by you that your dealings on NSE through a member shall
be subject to your fulfilling certain formalities set out by the member,
which may interalia include your filling the know your client form, client
registration form, execution of an agreement, etc., and are subject to the
Rules, Byelaws and Regulations of NSE and its Clearing Corporation,
guidelines prescribed by SEBI and in force from time to time and Circulars
as may be issued by NSE or its Clearing Corporation/Clearing House and in
force from time to time. NSE does not provide or purport to provide any
advice and shall not be liable to any person who enters into any business
relationship with any trading member and/or sub-broker of NSE and/or any
third party based on any information contained in this document. Any
information contained in this document must not be construed as business
advice/investment advice. No consideration to trade should be made without
thoroughly understanding and reviewing the risks involved in such trading.
If you are unsure, you must seek professional advice on the same. In considering whether to trade or authorize someone
to trade for you, you should be aware of or must get acquainted with the
following:-
1. BASIC RISKS INVOVLED IN TRADING ON
THE STOCK EXCHANGE (EQUITY AND OTHER INSTRUMENTS)
1.1. Risk of Higher
Volatility: Volatility refers to the dynamic changes in price that
securities undergo when trading activity continues on the Stock Exchange.
Generally, higher the volatility of a security/contract, greater is its
price swings. There may be normally greater volatility in thinly traded
securities/contracts than in active securities/contracts. As a result of
volatility, your order may only be partially executed or not executed at
all, or the price at which your order got executed may be substantially
different from the last traded price or change substantially thereafter,
resulting in notional or real losses.
1.2 Risk of Lower Liquidity:
Liquidity refers to the ability of market participants to buy and/or sell
securities / contracts expeditiously at a competitive price and with
minimal price difference. Generally, it is assumed that more the numbers
of orders available in a market, greater is the liquidity. Liquidity is
important because with greater liquidity, it is easier for investors to
buy and/or sell securities / contracts swiftly and with minimal price
difference, and as a result, investors are more likely to pay or receive a
competitive price for securities / contracts purchased or sold. There may
be a risk of lower liquidity in some securities / contracts as compared to
active securities / contracts. As a result, your order may only be
partially executed, or may be executed with relatively greater price
difference or may not be executed at all.
1.2. Buying/selling without
intention of giving and/or taking delivery of a security, as part of a day
trading strategy, may also result into losses, because in such a
situation, stocks may have to be sold/purchased at a low/high prices,
compared to the expected price levels, so as not to have any obligation to
deliver/receive a security.
1.3 Risk of Wider Spreads:
Spread refers to the difference in best buy price and best sell price. It
represents the differential between the price of buying a security and
immediately selling it or vice versa. Lower liquidity and higher
volatility may result in wider than normal spreads for less liquid or
illiquid securities / contracts. This in turn will hamper better price
formation.
1.4 Risk-reducing orders:
Most Exchanges have a facility for investors to place "limit orders",
"stop loss orders" etc". The placing of such orders (e.g., "stop loss"
orders, or "limit" orders) which are intended to limit losses to certain
amounts may not be effective many a time because rapid movement in market
conditions may make it impossible to execute such orders.
1.4.1 A "market" order will
be executed promptly, subject to availability of orders on opposite side,
without regard to price and that, while the customer may receive a prompt
execution of a "market" order, the execution may be at available prices of
outstanding orders, which satisfy the order quantity, on price time
priority. It may be understood that these prices may be significantly
different from the last traded price or the best price in that
security.
1.4.2 A "limit" order will
be executed only at the "limit" price specified for the order or a better
price. However, while the customer receives price protection, there is a
possibility that the order may not be executed at all.
1.4.3 A stop loss order is
generally placed "away" from the current price of a stock / contract, and
such order gets activated if and when the stock / contract reaches, or
trades through, the stop price. Sell stop orders are entered ordinarily
below the current price, and buy stop orders are entered ordinarily above
the current price. When the stock reaches the pre-determined price, or
trades through such price, the stop loss order converts to a market/limit
order and is executed at the limit or better. There is no assurance
therefore that the limit order will be executable since a stock / contract
might penetrate the pre-determined price, in which case, the risk of such
order not getting executed arises, just as with a regular limit order.
1.5 Risk of News
Announcements: Issuers make news announcements that may impact the price
of the securities / contracts. These announcements may occur during
trading, and when combined with lower liquidity and higher volatility, may
suddenly cause an unexpected positive or negative movement in the price of
the security / contract.
1.6 Risk of Rumours: Rumours
about companies at times float in the market through word of mouth,
newspapers, websites or news agencies, etc. The investors should be wary
of and should desist from acting on rumours.
1.7 System Risk: High volume
trading will frequently occur at the market opening and before market
close. Such high volumes may also occur at any point in the day. These may
cause delays in order execution or confirmation.
1.7.1 During periods of
volatility, on account of market participants continuously modifying their
order quantity or prices or placing fresh orders, there may be delays in
order execution and its confirmations.
1.7.2 Under certain market
conditions, it may be difficult or impossible to liquidate a position in
the market at a reasonable price or at all, when there are no outstanding
orders either on the buy side or the sell side, or if trading is halted in
a security due to any action on account of unusual trading activity or
stock hitting circuit filters or for any other reason.
1.8 System/Network
Congestion: Trading on NSE is in electronic mode, based on
satellite/leased line based communications, combination of technologies
and computer systems to place and route orders. Thus, there exists a
possibility of communication failure or system problems or slow or delayed
response from system or trading halt, or any such other problem/glitch
whereby not being able to establish access to the trading system/network,
which may be beyond the control of and may result in delay in processing
or not processing buy or sell orders either in part or in full. You are
cautioned to note that although these problems may be temporary in nature,
but when you have outstanding open positions or unexecuted orders, these
represent a risk because of your obligations to settle all executed
transactions.
2. As far as Futures and Options
segment is concerned, please note and get yourself acquainted with the
following additional features:-
2.1 Effect of "Leverage" or "Gearing"
The amount of margin is small relative to the value of the derivatives
contract so the transactions are 'leveraged' or 'geared'. Derivatives
trading, which is conducted with a relatively small amount of margin,
provides the possibility of great profit or loss in comparison with the
principal investment amount. But transactions in derivatives carry a high
degree of risk. You should therefore completely understand the following
statements before actually trading in derivatives trading and also trade
with caution while taking into account one's circumstances, financial
resources, etc. If the prices move against you, you may lose a part of or
whole margin equivalent to the principal investment amount in a relatively
short period of time. Moreover, the loss may exceed the original margin
amount.
A. Futures trading involves
daily settlement of all positions. Every day the open positions are marked
to market based on the closing level of the index. If the index has moved
against you, you will be required to deposit the amount of loss (notional)
resulting from such movement. This margin will have to be paid within a
stipulated time frame, generally before commencement of trading next
day.
B. If you fail to deposit
the additional margin by the deadline or if an outstanding debt occurs in
your account, the broker/member may liquidate a part of or the whole
position or substitute securities. In this case, you will be liable for
any losses incurred due to such close-outs.
C. Under certain market
conditions, an investor may find it difficult or impossible to execute
transactions. For example, this situation can occur due to factors such as
illiquidity i.e. when there are insufficient bids or offers or suspension
of trading due to price limit or circuit breakers etc.
D. In order to maintain
market stability, the following steps may be adopted: changes in the
margin rate, increases in the cash margin rate or others. These new
measures may also be applied to the existing open interests. In such
conditions, you will be required to put up additional margins or reduce
your positions.
E. You must ask your broker
to provide the full details of the derivatives contracts you plan to trade
i.e. the contract specifications and the associated obligations.
2.2. Risk of Option holders
1. An option holder runs the
risk of losing the entire amount paid for the option in a relatively short
period of time. This risk reflects the nature of an option as a wasting
asset which becomes worthless when it expires. An option holder who
neither sells his option in the secondary market nor exercises it prior to
its expiration will necessarily lose his entire investment in the option.
If the price of the underlying does not change in the anticipated
direction before the option expires to an extent sufficient to cover the
cost of the option, the investor may lose all or a significant part of his
investment in the option.
2. The Exchange may impose
exercise restrictions and have absolute authority to restrict the exercise
of options at certain times in specified circumstances.
2.3 Risks of Option Writers
1. If the price movement of
the underlying is not in the anticipated direction, the option writer runs
the risks of losing substantial amount.
2. The risk of being an
option writer may be reduced by the purchase of other options on the same
underlying interest and thereby assuming a spread position or by acquiring
other types of hedging positions in the options markets or other markets.
However, even where the writer has assumed a spread or other hedging
position, the risks may still be significant. A spread position is not
necessarily less risky than a simple 'long' or 'short' position.
3. Transactions that involve
buying and writing multiple options in combination, or buying or writing
options in combination with buying or selling short the underlying
interests, present additional risks to investors. Combination
transactions, such as option spreads, are more complex than buying or
writing a single option. And it should be further noted that, as in any
area of investing, a complexity not well understood is, in itself, a risk
factor. While this is not to suggest that combination strategies should
not be considered, it is advisable, as is the case with all investments in
options, to consult with someone who is experienced and knowledgeable with
respect to the risks and potential rewards of combination transactions
under various market circumstances.
3. GENERAL
3.1 Commission and other charges : Before you begin
to trade, you should obtain a clear explanation of all commission, fees
and other charges for which you will be liable. These charges will affect
your net profit (if any) or increase your loss.
3.2 Deposited cash and
property You should familiarise yourself with the
protections accorded to the money or other property you deposit
particularly in the event of a firm insolvency or bankruptcy. The extent
to which you may recover your money or property may be governed by
specific legislation or local rules. In some jurisdictions, property which
has been specifically identifiable as your own will be pro-rated in the
same manner as cash for purposes of distribution in the event of a
shortfall. In case of any dispute with the member, the same shall be
subject to arbitration as per the byelaws/regulations of the Exchange.
3.3 For rights and
obligations of the clients, please refer to Annexure-1 enclosed with this
document.
3.4 The term 'constituent'
shall mean and include a client, a customer or an investor, who deals with
a member for the purpose of acquiring and/or selling of securities through
the mechanism provided by NSE.
3.5 The term 'member' shall
mean and include a trading member, a broker or a stock broker, who has
been admitted as such by NSE and who holds a registration certificate as a
stock broker from SEBI.
I
hereby acknowledge that I have received and understood this risk
disclosure statement and Annexure-1 containing my rights and
obligations.
RE-1 INVESTORS' RIGHTS AND
OBLIGATIONS ANNEXURE-1 INVESTORS' RIGHTS AND
OBLIGATIONSANNEXURE-1 INVESTORS' RIGHTS AND OBLIGATIONS
1.1 You should familiarise
yourself with the protection accorded to the money or other property you
may deposit with your member, particularly in the event of a default in
the stock market or the broking firm's insolvency or bankruptcy.
1.1.1 Please ensure that you
have a documentary proof of your having made deposit of such money or
property with the member, stating towards which account such money or
property deposited.
1.1.2 Further, it may be
noted that the extent to which you may recover such money or property may
be governed by the Bye-laws and Regulations of NSE and the scheme of the
Investors' Protection Fund in force from time to time.
1.1.3 Any dispute with the
member with respect to deposits, margin money, etc., and producing an
appropriate proof thereof, shall be subject to arbitration as per the
Rules, Byelaws/Regulations of NSE or its Clearing Corporation /Clearing
House.
1.2 Before you begin to
trade, you should obtain a clear idea from your member of all brokerage,
commissions, fees and other charges which will be levied on you for
trading. These charges will affect your net cash inflow or outflow.
1.3 You should exercise due
diligence and comply with the following requirements of the NSE and/or
SEBI:
1.3.1 Please deal only with
and through SEBI registered members of the Stock Exchange and are enabled
to trade on the Exchange. All SEBI registered members are given a
registration no., which may be verified from SEBI. The details of all
members of NSE and whether they are enabled to trade may be verified from
NSE website (www.nseindia.com ).
1.3.2 Demand any such
information, details and documents from the member, for the purpose of
verification, as you may find it necessary to satisfy yourself about his
credentials.
1.3.3 Furnish all such
details in full as are required by the member as required in "Know Your
Client" form, which may also include details of PAN or Passport or Driving
Licence or Voters Id, or Ration Card, bank account and depository account,
or any such details made mandatory by SEBI/NSE at any time, as is
available with the investor.
1.3.4 Execute a
broker-client agreement in the form prescribed by SEBI and/or the Relevant
Authority of NSE or its Clearing Corporation / Clearing House from time to
time, because this may be useful as a proof of your dealing arrangements
with the member.
1.3.5 Give any order for buy
or sell of a security in writing or in such form or manner, as may be
mutually agreed. Giving instructions in writing ensures that you have
proof of your intent, in case of disputes with the member.
1.3.6 Ensure that a contract
note is issued to you by the member which contains minute records of every
transaction. Verify that the contract note contains details of order no.,
trade number, trade time, trade price, trade quantity, name of security,
client code allotted to you and showing the brokerage separately. Contract
notes are required to be given/sent by the member to the investors latest
on the next working day of the trade. Contract note can be issued by the
member either in electronic form using digital signature as required, or
in hard copy. In case you do not receive a contract note on the next
working day or at a mutually agreed time, please get in touch with the
Investors Grievance Cell of NSE, without delaying.
1.3.7 Facility of Trade
Verification is available on NSE website (www.nseindia.com), where details
of trade as mentioned in the contract note may be verified from the trade
date upto five trading days. Where trade details on the website, do not
tally with the details mentioned in the contract note, immediately get in
touch with the Investors Grievance Cell of NSE.
1.3.8 Ensure that
payment/delivery of securities against settlement is given to the
concerned member within one working day prior to the date of pay-in
announced by NSE or it's Clearing Corporation / Clearing House. Payments
should be made only by account payee cheque in favour of the firm/company
of the trading member and a receipt or acknowledgement towards what such
payment is made be obtained from the member. Delivery of securities is
made to the pool account of the member rather than to the beneficiary
account of the member.
1.3.9 In case pay-out of
money and/or securities is not received on the next working day after date
of pay-out announced by NSE or its Clearing Corporation / Clearing House,
please follow-up with the concerned member for its release. In case
pay-out is not released as above from the member within five working days,
ensure that you lodge a complaint immediately with the Investors'
Grievance Cell of NSE.
1.3.10 Every member is
required to send a complete 'Statement of Accounts', for both funds and
securities settlement to each of its constituents, at such periodicity as
may be prescribed by time to time. You should report errors, if any, in
the Statement immediately, but not later than 30 calendar days of receipt
thereof, to the member. In case the error is not rectified or there is a
dispute, ensure that you refer such matter to the Investors Grievance Cell
of NSE, without delaying.
1.3.11 In case of a
complaint against a member/registered sub-broker, you should address the
complaint to the Office as may be specified by NSE from time to time.
1.4 In case where a member
surrenders his membership, NSE gives a public notice inviting claims, if
any, from investors. In case of a claim, relating to "transactions
executed on the trading system" of NSE, ensure that you lodge a claim with
NSE/NSCCL/Clearing House within the stipulated period and with the
supporting documents.
1.5 In case where a member
is expelled from trading membership or declared a defaulter, NSE gives a
public notice inviting claims, if any, from investors. In case of a claim,
relating to "transactions executed on the trading system" of NSE, ensure
that you lodge a claim with NSE within the stipulated period and with the
supporting documents.
1.6 Claims against a
defaulter/expelled member found to be valid as prescribed in the relevant
Rules/Bye-laws and the scheme under the Investors' Protection Fund (IPF)
may be payable first out of the amount vested in the Committee for
Settlement of Claims against Defaulters, on pro-rata basis if the amount
is inadequate. The balance amount of claims, if any, to a maximum amount
of Rs.10 lakhs per investor claim, per defaulter/expelled member may be
payable subject to such claims being found payable under the scheme of the
IPF.
Notes:
1. The term 'constituent' shall mean and include a
client, a customer or an investor, who deals with a trading member of NSE
for the purpose of acquiring and / or selling of securities through the
mechanism provided by NSE
2. The term 'member' shall
mean and include a member or a broker or a stock broker, who has been
admitted as such by NSE and who holds a registration certificate as a
stock broker from SEBI.
3. NSE may be substituted
with names of the relevant exchanges, wherever applicable.
Phishing and Spoofing
To keep updated with the recent technological updates, we keep upgrading technology to enhance the security of your account and your personal information. At the same time, various types of frauds are known to have been perpetrated the world over. While you may not have fallen prey to any of them, thankfully, it's our responsibility to make you aware of them so that you are alert of how to protect your account.
What is Phishing ?
Phishing is an attempt by fraudsters to 'fish' for your important details like Account Number, username, passwords and financial data. A phishing attempt usually is in the form of an e-mail that appears to be from valid source. The e-mail usually encourages you to click a link in it that takes you to a fraudulent log-on page designed to capture your details. E-mail addresses can be obtained from publicly available sources or through randomly generated lists.
How The Fraudsters Operate?
Fraudsters send fake e-mails claiming that your information has been compromised, due to which your account has been de-activated/suspended, and ask you to hence confirm the authenticity of your information/transactions like username, passwords or personal information, such as mother's maiden name etc. In order to prompt a response, such e-mails usually resort to using statements that convey an urgent or threatening condition concerning your account.
While some e-mails are easy to identify as fraudulent, others may appear to be from a legitimate source. However, you should not rely on the name or address in the “From” field alone, as this can be easily duplicated.
Very often, such phishing e-mails may contain spelling mistakes. Even the links to the counterfeit websites may contain URLs with spelling mistakes, to take you to a fake website which looks like the original website
Some fake e-mail promise a prize or gift certificate in exchange for your completing a survey or answering a few questions. In order to collect the alleged prize, you may be asked to provide your personal information.
Fake e-mails appear to be sent by companies to offer a job. These are often for work-at-home positions that are actually schemes that victimize both the job applicant and other customers.
Fake e-mails may direct you to counterfeit websites carefully designed to look real. Hence such websites may look very similar and familiar to you, but are in fact used to collect personal information for illegal use.
Such e-mails attempt to convey a sense of urgency or threat. Example: “Your account will be closed or temporarily suspended, if you don't respond.” Or “You'll be charged a fee if you don't respond.”
Tips To Protect Yourself from Phishing
If you receive an e-mail requesting your username, password or account number, you should not respond.
Whenever you use a link to access a website, be sure to check for the URL of the website and compare it with the original. We recommend that you type in the URL yourself whenever you access www.justtrade.in or bookmark/store the URL in your list of ‘Favorites’.
Delete suspicious e-mails without opening them. If you happen to open them, do not click any link or attachment they may contain.
What Is Spoofing?
Website spoofing is the act of creating a website, as a hoax, with the intention of performing fraud. To make spoof sites seem legitimate, phishers use the name(s), logo(s), graphic(s) and even code of the actual website. They can even fake the URL that appears in the address field at the top of your browser window and the Padlock icon that appears at the bottom right corner.
How The Fraudsters Operate?
Fraudsters send e-mails with a link to a spoofed website asking you to update or confirm account related information. This is done with the intention of obtaining sensitive account related information like your User ID, password, PIN, credit card / debit card / bank account number etc.
Tips To Protect Yourself from Spoofed Websites
If you receive an e-mail requesting your username, password or account number etc., you should not respond.
Check for the Padlock icon: There is a de facto standard among web browsers to display a Padlock icon somewhere in the window of the browser For example; Microsoft Internet Explorer displays the lock icon at the bottom right of the browser window. Click (or double-click) on it in your web browser to see details of the site's security.
It is important for you to check to whom this certificate has been issued, because some fraudulent websites may have a padlock icon to imitate the Padlock icon of the browser.
Check the webpage’s URL. When browsing the web, the URLs (web page addresses) begin with the letters "http". However, over a secure connection, the address displayed should begin with "https" - note the "s" at the end. |