SEBI vide circular no. SEBI/HO/MIRSD/POD-1/P/CIR/2024/4 dated January 12, 2024, and NSE Circular no NSE/INSP/61529 Dated April 08, 2024, regarding Framework for Trading Members to provide the facility of voluntary freezing/blocking of online access of the trading account to their clients.
It is pertinent to mention that:
Given the above Dayco Securities Pvt Ltd has framed the following policy governing the outline of the modus operandi. In addition to branch trading, Dayco Securities Pvt Ltd is extending the internet trading facility through browser-based. Presently we will be providing the following method of communications through which the client may request for voluntary freezing/ blocking of the online access of the trading account if any suspicious activity is observed in the trading account-
For freezing/blocking type: “BLOCK” FOLLOWED BY UCC WITHOUT SPACE Example: if your UCC is A00123 then the message will be “BLOCKA00123” and send it to +91 8336069309.
For un-freezing/ un-blocking type: “UNBLOCK FOLLOWED BY UCC WITHOUT SPACE” For Example: if your UCC is A00123 then the message will be “UNBLOCKA00123” and send it to +91 8336069309.
Request sent for such freezing/ blocking and un-freezing/ un-blocking may not be addressed by Dayco Securities Pvt Ltd if it is not sent from the client’s registered mobile number or sent to any other mobile number of Dayco Securities Pvt Ltd.
Dayco Securities Pvt Ltd shall take the following actions on the receipt of such request through any modes of communication for freezing/blocking of the online access of the trading account from the client:
Verify whether the request is received from the registered mobile number/e-mail ID of the client;
Scenario | Timeline for issuing acknowledgment as well as freezing / blocking of the online access of the trading account. |
---|---|
Request received during the trading hours and within 15 minutes before the start of trading hour. | Within 15 minutes of receiving the request. |
Request received after the trading hours and 15 Minutes before the closure of trading hour. | Before the start of next trading session |
Dayco Securities Pvt Ltd shall maintain the appropriate records/logs including requests received to freeze/block the online access of the trading account, confirmation given for freezing/blocking of the online access of the trading account, and cancellation of pending orders, if any, and sent them to the clients for the time limit as prescribed by the Regulator.
Re-enabling the client for online access of the trading account: - The Trading Member shall re-enable the online access of the trading account after carrying out necessary due diligence including validating the client request and unfreezing / unblocking the online access of the trading account.
If you have any questions, reply to this email or DM us or call us +91 83360 69309.
Background
Exchanges vide its circular NSE/INSP/62528 dated June 21, 2024 and 20240622-2 dated June 22, 2024 pertaining to ‘Policy on Handling of Good Till Cancelled Orders offered by Members to Clients’ mandated trading members to formulate a policy in case they offer “Good Till Cancelled” / “Good Till Triggered” orders or orders of similar type
Details of Good Till Cancelled/Good Till Triggered/orders
Policy Communication
The said policy shall be made part of the Account Opening Form/Kit under the heading “Policy on Handling of Good Till Cancelled Orders of Client” of the Policy and Procedures document and shall also be displayed on the company’s website.
The Client agrees to abide by this “MANDATORY POLICY” on Handling of Good Till Cancelled and/or Good Till Triggered Orders and/or Similar Types of Orders offered by Dayco Securities Pvt Ltd to its Clients and the Client(s) would NOT claim any Monetary Losses and Compensation, for the adherence of the above attributes laid in “the Policy”, by Dayco Securities Pvt Ltd.
Change in the Policy will be adopted as and when required by the company and is binding on all the Staff / Employees /and Directors of the Company.
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