Leading stock exchange BSE today said it plans to 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.
"It is proposed to 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," BSE said in a circular.
It further said 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.
The exchange would communicate the launch date of this facility later.
Besides, a new trade take-up confirmation message has been introduced, wherein trading members can view status on front-end trading application whether the trade confirmation has been approved or rejected by the client's clearing member.
