Leading stock exchange BSE will introduce a facility to enable trading members to provide participant code (CP code) while entering orders for clients in equity as well as currency derivative segments from May 9.
"...Exchange shall be making this functionality live from Monday, May 9, 2016 in equity derivatives and currency derivatives segments," BSE said in a circular.
It will conduct a mock trading on May 7 in this regard.
BSE will enable facility for trading members to provide the CP code at the time of entering orders for clients whose trades are settled by their clearing member and not by the trading member.
Trading members can provide CP code along with client code at the time of order entry. This facility will be applicable only for institution and special clients.
For this, a file consisting of participant codes will be made available on daily basis, which has to be used in BOLT or other front-end trading application. Once order with CP code is traded, it will be automatically given up to client's clearing member for confirmation in real time risk management system.
