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    The National Commodity & Derivatives Exchange has revised its penalty structure for stock brokers dealing in cash with clients. The penalty for cash dealing has been increased from 0.1% of the transaction value to 10% of the cash amount or Rs. 1,000, whichever is higher. For repetitive instances, the penalty will be escalated by 50%. The revised penalty structure is effective from the date of this circular.

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    The National Commodity & Derivatives Exchange has revised its penalty structure for stock brokers dealing in cash with clients. The penalty for cash dealing has been increased from 0.1% of the transaction value to 10% of the cash amount or Rs. 1,000, whichever is higher. For repetitive instances, the penalty will be escalated by 50%. The revised penalty structure is effective from the date of this circular.

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    17 views1 page

    NCDEX Circular-Cash Dealing Penalty

    Uploaded by

    Rambo
    The National Commodity & Derivatives Exchange has revised its penalty structure for stock brokers dealing in cash with clients. The penalty for cash dealing has been increased from 0.1% of the transaction value to 10% of the cash amount or Rs. 1,000, whichever is higher. For repetitive instances, the penalty will be escalated by 50%. The revised penalty structure is effective from the date of this circular.

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    © All Rights Reserved
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    of 1

    NATIONAL COMMODITY & DERIVATIVES EXCHANGE LIMITED

    Circular to all trading and clearing members of the Exchange


    Circular No : NCDEX/COMPLIANCE - 019/2018
    Date : November 01, 2018
    Subject : Revision to Penalty Structure for Cash Dealing with Clients

    This is in partial modification to the Exchange Circular no. NCDEX/COMPLIANCE-020/2017/285


    dated October 31, 2017 on Revised penalty structure and reference to the Exchange Circular no.
    NCDEX/COMPLIANCE-014/2018/170 dated July 12, 2018 on Discontinuation of acceptance of
    cash by Stock Brokers.

    As per SEBI directive, the Exchange has revised the penalty structure for dealing in cash with
    clients.

    Details of Contravention Existing Penalty Structure Revised Penalty Structure


    Cash dealing with clients 0.1% of the aggregate value in 10% of the amount of cash
    excess of Rs. 50,000/- dealing or Rs. 1,000/-
    whichever is higher.
    For repetitive instances, the
    penalty shall be escalated by For repetitive instances, the
    50% penalty shall be escalated by
    50%

    All the other penalty provisions as mentioned in the above referred circular no.
    NCDEX/COMPLIANCE-020/2017/285 dated October 31, 2017 would remain the same.

    The revised penalty structure will be applicable from the date of this circular.

    Members are requested to take note of the same.

    For and on behalf of


    National Commodity & Derivatives Exchange Limited

    Satish Muley
    Vice President – Inspection and Enforcement

    For further information/clarifications, please contact


    1. Customer Service Group on toll free number: 1800 26 62339
    2. Customer Service Group by e-mail to : askus@ncdex.com

    1/1
    Registered Office: 1st Floor, Akruti Corporate Park, Near G.E. Garden, LBS Road,
    Kanjurmarg West, Mumbai 400 078, India. CIN No. U51909MH2003PLC140116
    Phone: +91-22-6640 6789, Fax +91-22-6640 6899, Website: www.ncdex.com

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