FUNCTIONS OF OTCEI PDF

features of OTCEI 1. nationwide trading2. ringless trading3. compulsory investor registration4. transparent trading5. Please see the related links for an explanation of OTCEI. 3. Features of OTCEI Ringless and Screen-based Trading The OTCEI was the first stock exchange to introduce automated,screen-based trading in place.

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The Member Selection Committee shall process all the applications made in accordance with sub-clause 1 above and shall make such recommendations as it may deem fit in this regard to the Board of the Exchange. Securities Contract Regulations Act, and Rules thereunder. Members funtions for partners, agents and employees. Member may forthwith close-out the transaction s of selling client, by effecting purchases of the securities, on his failure to deliver the securities sold alongwith the valid transfer deeds within two days of the Contract Note having been delivered by the counter or before the delivery day as fixed by the Exchange for the concerned settlement periodwhichever is earlier.

Corporate entity to Partnership. Every member shall remit to the Exchange, the Securities Transaction Tax in respect of the taxable securities transactions entered into by him as purchaser on the Exchange either on his own or on behalf of his Constituents in accordance with the procedures ootcei by the relevant authority from time to time and subject to the provisions of Income Tax Act, and the Securities Transaction Fnctions Rules, Explain about features of democracy in India?

Reference to Arbitration Committee. In the event a member fails to meet obligations to the Clearing House of the Exchange arising out of clearing and settlement operations of such deals as provided in the Bye-laws and Regulations, the relevant authority may utilize the Settlement Guarantee Fund and other monies to the extent necessary to fulfill the obligations under such terms and conditions as the relevant authority may specify from time to time. In case of Purchase by client.

If without the permission of OTC Committee, it does business on its own account or in account of a principal with or otccei a member during the period it is required by the OTC Committee to suspend its business on the Exchange. How do you explain features of computer? A registered Otceii Maker shall not commence making market in any security until one business day after notice of its registration has been disseminated through the quotation system.

The companies that seek listing on the OTC Exchange have to approach one of the members appointed by the OTC for acting as a sponsor to the issue. The above will be subject to the provisions of runctions Foreign Exchange Regulation Act, Rules and any other rules and provisions of the Reserve Bank of India, as applicable.

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What is the role of OTCEI

The Disciplinary Committee may warn, fine, expel, suspend or withdraw all or any of the Membership rights of a Member if in the opinion of the OTC Committee the Member be guilty of contravention, non-compliance, disobedience, disregard or evasion of any of the Bye-laws, Rules and Regulations, Code of Conduct of the Exchange or inconsistent with just and equitable principles of trade or detrimental to the interests, good name or welfare of the Exchange or prejudicial or subversive to its objects and purposes.

In respect of any claim, complaint, difference or dispute required to be referred to arbitration under these Bye-laws, Rules and Regulations, no Member shall commence legal proceedings against another without the permission of the Exchange. OTCEI deals in equity shares, preference shares, bonds, debentures and warrants. If it transacts its own business or the business of its constituent in fictitious names. Utilisation of the Settlement Guarantee Fund.

Investors can settle the deals across the counter and the finctions or scrip proceeds from the deal will be settled in a matter of days if not earlier.

The system must be able to remember data locations. Here the concept of abstraction is shown. The books of account maintained by Members on account of clients would help to distinguish the money paid by each client.

OTC Exchange of India

Here encapsulation can be shown. Those having proper infrastructural facilities like telephone, computers, telex, fax, office space and other networks would also be given due weightage and preference. The OTC Committee may decline to hear an appeal or may dismiss an appeal at any time during the proceedings and refer the parties to seek their remedies at law and it shall so refer them upon the joint request of the parties. Liability of the Exchange.

The unit of trading in each security shall be for such number or for such amount as the Board of Directors may from time functoins time specify and unless so specified the unit of trading shall be in the lots prescribed or in such other lots as the Exchange may from time to time prescribe in modification or substitution thereof. Sponsors to an issue shall perform the following functions: Explain the nature and features of management? Any profit arising therefrom shall be paid to the client after deducting service charges.

Feature storiesare the coverage of topics in detail and news coverage byamplifying and explaining the most fnctions and importantelements of a situation. OTCEI is a computer based screen system exhibiting the quotations of the scrips of the companies of different industries of the nation.

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OTC Exchange of India – Wikipedia

The trading is entirely screen based with automated order machine. Moneys to be withdrawn from Clients account. For recovery of the dues, the Exchange will initiate legal proceedings such as issuing legal notices, winding up notices etc.

Readmission to Dealings on the Exchange. Award binding on parties and their representatives.

The Default Committee shall not off any claim against a defaulter. Explain the main features of law?

Enables transactions to be completed quickly. Such payment must be made at least one banking day prior to the date of which the trading member is required to make payment to the Exchange or Clearing Fo towards pay-in, in compliance with the provisions in these Runctions and rules relating to such payment.

Brokerage in Cases of Charity. Consequently, the investors who need cash desperately for domestic or other purposes have to plead before brokers and dealers to sell off their holdings. Failure to make payment or vunctions to the Default Committee of all monies and other assets due to a Member who has been declared a defaulter within such time of the declaration of default of such a Member as the relevant authority may direct; or.

Dealings shall be deemed to have been permitted in Government Securities which term for the purpose of these Bye-laws made thereunder shall denote securities issued by the Government of India, State Governments, Port Trusts, Municipalities, local authorities, statutory bodies and similar other bodies or authorities and include treasury bills issued by the Government of India.

Appeal to the OTC Committee.

Such approval will normally be granted in situations where, in the opinion of the Exchange, it is either impractical or undesirable for the registered Market Maker to continue to operate on account of events beyond its control.

Trading Sessions outside prescribed hours prohibited. A registered market maker shall authorise and designate at least one person to execute orders on its behalf. Fees, Forms and Procedure. How do you explain the features of an earthquake? A registered Market Maker may cease making market in a particular OTCEI security after such period as decided by the Exchange from the commencement of making market in that security, after having given the required notice of intention to the Exchange.

The market making system will have two way prices which are quoted regularly to provide sufficient opportunity for investors to exit.