Business
Scholarships allow brokers to work from home
According to market experts, this could be the first time that brokers have benefited from this facility.
In separate circulars, the BSE and the NSE have declared that they have authorized brokers and traders to take terminals outside the authorized locations. This decision will allow brokers to work from home.
The arrangement will continue until April 30 or more if the situation requires, they added.
This decision comes after the stock exchanges have received representations or requests for information from the commercial members concerning the operation of the commercial terminals from places other than those reported on the stock exchange, as a precaution, taking into account the coronavirus pandemic.
In view of this and on a temporary basis, the ESB and the NSE have declared that the securities dealers will be authorized to operate the trading terminals from locations other than those declared on the stock exchange. This is subject to compliance with certain directives.
These include: Securities dealers will need to develop an internal policy to prevent unauthorized trading and provide a list of approved users, contact information such as terminal details, certificate details and alternative location address to trades.
“Such a policy must be duly approved by the member’s competent authority such as the CEO / designate / compliance officer / partner / owner, as the case may be,” the awards said in similar but separate circulars.
“Members must have a mechanism in place to monitor these terminals and ensure that the terminals are operated from these designated alternative locations only and by approved users,” they added.
Securities dealers have been asked to exercise due care in the operation of these trading terminals and will be responsible for any improper use of the trading terminals by any of the users.
Earlier, the exchanges asked their employees to work from home as a precaution in the face of the prevailing coronavirus pandemic. PTI SP HRS
Warning :- This story has not been edited by Outlook staff and is automatically generated from news agency feeds. Source: PTI
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