Attention of the SLB participants is drawn to the facility of the client code modification provided in Securities Lending & Borrowing (SLB) Scheme.
In context to same participants may note that the said facility of client code/CP code modification is available for each transaction at trade level. The facility of client code/ CP code modification is not applicable in case of repay, recall, rollover transactions. Further the facility cannot be used to modify any proprietary transactions.
The SLB participants may also note the facility of client code/CP code modification has been provided to allow rectification of genuine errors at the time of placing/modifying the related order. As such SLB participants are required to take adequate precautions while placing of the orders. An exception charge shall be levied on monthly basis in cases of client code modifications of non-institutional trades based on the below criteria:
Sr. No.
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% value of Lending Fees of modified trades (*) in the month to total value of the Lending fees of all SLB trades (**) during the month
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% of charges
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1.
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Less than or equal to 5%
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1%
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2.
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Greater than 5%
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2%
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* Value of the lending fees of non-institutional trades where client code modification has been carried out by SLB participant in the month.
** total value of the lending fees of all non-institutional trades executed by the SLB participant in the month.
The SLB participants may note that the aforesaid charges is subject to a minimum of Rs. 500 per month. The aforesaid norms would be effective from Monday, October 26’ 2020.
In case of any clarification, members may contact their Relationship Managers or any of the following ICCL officials:
Sr. No.
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Query Type
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Coordinates
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1
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SLB Client code/CP code modification / Penalty norms.
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022 22728217/ 8598 / 8365 / 8788
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For and on behalf of the Indian Clearing Corporation Ltd.
Surendra Rashinkar Hitesh Shah
Additional General Manager Dy. General Manager
Membership & Inspection Operations
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