Markets

Covid-19: MCX puts off norms for weekly disclosure of client fund details by brokers

Our Bureau Mumbai | Updated on March 22, 2020 Published on March 22, 2020

MCX has postponed the norms for commodity brokers to upload client fund details on a weekly basis.

MCX had issued a circular on February 10, 2020 wherein members were informed to upload Client Funds Securities and Commodities Balances on a weekly basis, for all calendar days of that week except Sunday on or before the next four trading days of subsequent week.

It had also asked the day-wise balance (as per the bank statement) of all bank accounts of the members on weekly basis for all the calendar days of that week except Sunday on or before the next four trading days of subsequent week.

In view of Novel Covid -19 virus pandemic outbreak in the country and as per request from some members,MCX has now decided to postpone the date of implementation for the aforesaid requirements. These norms were supposed to be implemented from April 1 onwards.

"Revised date of implementation will be separately communicated. Please note that all other existing requirements of submission to the Exchange shall continue to be in force," MCX said in a circular

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on March 22, 2020
This article is closed for comments.
Please Email the Editor