Bajaj Capital Markets Limited (BCML) 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 BCML, the disclaimer is for the benefit of BCML as much as for BCML'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. BCML has launched and established an online trading service on the site (hereinafter
referred to as the "Service"). BCML 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. BCML 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 BCML 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 BCML. BCML also reserves the
absolute right to decide on the duration of the period during which the Offer shall be
available. BCML 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. BCML 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. BCML 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 BCML 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 BCML 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 BCML. 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.
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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 BCML 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. BCML 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,
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interruption, deletion, defect, delay in operation or transmission, computer virus,
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or use of information, whether resulting, in whole or in part, from or relating to any of
the services offered or displayed by BCML on the Site.
10. BCML 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. BCML
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 BCML of the site, or its content or the sponsoring company/person. By
providing access to other sites, BCML 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 BCML 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. BCML 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 BCML shall not be responsible therefor.
14. BCML shall not be liable if the Customer/Investor/Client downloads any information or
software from this Site. Further, BCML 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. BCML 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 BCML.
15. The Site contains features of the services that are currently being offered by BCML and
those which may be offered in the future. However, BCML 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,
BCML 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 BCML.
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 BCML.
BCML 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 BCML 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. BCML 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, BCML 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 BCML 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 BCML 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. BCML 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 BCML as a result of this agreement or on account of use
of our Site.
22. Transactions between you and BCML 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 BCML/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 Markets 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 Markets 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 BCML
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 webpages 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.
“The Stock Exchange, Mumbai is not in any manner answerable, responsible or liable to any
person or persons for any acts of omission or commission, errors, mistakes and/or violation,
actual or perceived, by us or our partners, agents, associates etc., of any of the Rules,
Regulations, Bye-laws of the Stock Exchange, Mumbai, SEBI Act or any other laws in force
from time to time.
The Stock Exchange, Mumbai is not answerable, responsible or liable for
any information on this Website or for any services rendered by our employees, our servants,
and us.”