BSE permits brokers, trader to take terminals outside authorised locations

Our Bureau Mumbai | Updated on March 22, 2020

The Bombay Stock Exchange (BSE) has allowed brokers and traders to take terminals outside authorised locations in a bid to allow work from home. The arrangement shall be permitted till April 30. The National Stock Exchange (NSE) has also made similar arrangements.

"The Exchange has received representations/enquiries from Members regarding operation of trading terminals from locations other than those reported to the Exchange, as a preventive measure, in view of the prevailing coronavirus (COVID-19) pandemic. In view of the above and as a temporary measure, Members, opting for this facility, shall be permitted to operate the trading terminals from such locations subject to compliance of guidelines," BSE said in a circular.

BSE has asked its trading members to frame an internal policy in this regard clearly mentioning the controls & checks put in place to prevent any unauthorised trading activities. The policy shall list down the users and their details who will be permitted to operate from such location and the duration.

"Such policy shall be duly approved by the Member’s appropriate authority such as CEO/Designated Director/Compliance officer/Partner/Proprietor, as the case may be. Members shall have a mechanism in place to monitor such terminals and ensure that the terminals are being operated from such designated alternate locations only and by the approved users," BSE said in a circular.

Published on March 22, 2020

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