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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 corporate office is situated in Bombay. What is a role? Registration of Securities when in name of Member or Nominee.

The sponsor makes thorough appraisal of the project, resulting in investors getting a choice of quality companies. On ootcei of the complete shortages, the member is permitted to trade with a reduced gross exposure as mentioned in the table below: Provided however that, no such written consent or authority shall be necessary for closing-out any outstanding contracts entered into by such persons in accordance with these Bye-laws, Rules and Regulations.

Provides definite liquidity to investors.

Closing-out of Account by constituent. The OTC Committee shall have the power to pre-determine the penalties, the period of any suspension, the withdrawal of particular membership rights and the amount of any fine that would be imposed on contravention, non-compliance, disobedience, disregard or evasion of any Rules, Bye-laws or Regulations of the Exchange or of any resolution, order, notice, direction, decision or ruling thereunder of the Exchange, the OTC Committee or of any other committee or officer of the Exchange authorised in that behalf.

A Member shall not be deemed to be under any obligation to attend to the transfer of securities and the registration thereof in the name of the constituent. An applicant so appointed as Dealer shall be registered on the Exchange.

Where a Member is declared a defaulter, otdei provisions of the Bye-laws of the Exchange in respect of Default shall become applicable. Which arises from dealings not settled by delivery and payment within the time prescribed by these Bye-laws, Rules and Regulations. If the market be closed at the time of or subsequent to default the constituent may close-out against the defaulting Member on or after the re-opening of the market for dealings in such security or securities. OTC Exchange will create a nationwide network, where investors will be serviced who will form the captive investor base for companies.

What are the roles and responsibilities of a role model?

OTCEI: Concept and Advantages | India | Financial Management

OTC Exchange will help spread the stock exchange operations geographically and integrate capital market investment into a forum. Decision on written statements or by hearings. BSE is now a national stock exchange as the Funcyions has started allowing its members to set-up computer terminals outside the city of Mumbai former Bombay. A Dealer desirous of transferring the Dealership of the Exchange by way of sale shall make an application to that effect to the Exchange alongwith such fees, deposits, processing charges, transfer charges and other monies in such form and in such manner as may be specified by the Exchange from time to time, subject to the criteria, terms and conditions prescribed by the Exchange from time to time.

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The monies, Bank Deposit Receipts and other securities and assets deposited by a Member by ov of margin, under the provisions of these Bye-laws, Rules and Regulations, shall be subject to a first and paramount lien for any sum due to OTC Exchange by it and for the due fulfillment of its engagements, obligations and liabilities arising out of or incidental to any bargains, dealings, transactions and contracts made subject to the Rules, Bye-laws and Regulations of the Exchange or anything done in pursuance thereof.

Defaulter to give Information. Adjournment, if any, shall be granted by the arbitral tribunal only in exceptional cases, for bonafide reasons to be recorded in writing.

OTC Exchange of India – Wikipedia

Member shall withdraw only the following moneys from the clients account: In no case shall any refusal to take delivery of the notice or communication affect the validity of its service.

The OTC Committee shall be bound and obliged to carry out and implement any directives issued by the Board from time to time and shall be bound to comply with all conditions of delegation and limitations on the powers of the OTC Committee as may be prescribed.

If the members of the Arbitration Committee hearing a reference are not agreed as to the award to be made, they shall refer the subject matter of the reference or such part thereof in respect of which they cannot agree to a third member of the Arbitration Committee and the three members shall then together arbitrate in the reference and the award of any two of them shall be deemed to be award in arbitration. Disclosures of beneficial interest. A Member buying securities on which calls have been prepaid by the seller may charge brokerage on the purchase price with the amount of such calls added.

A notice or communication served by post or telegram shall be deemed to have been received by the party at the time when the same would in the ordinary course of post or telegram have been delivered. Investor makes a cheque for the amount. No person shall have the right to be represented by professional counsel, attorney, advocate or other representative in any inquiry or investigation or hearing before the OTC Committee or any other sub-committee or an officer of the Exchange authorised in that behalf unless the OTC Committee so permits.

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If the Member Selection Committee decides to refuse Membership to any applicant, then they may state fuunctions reasons for such a decision in writing and may also ktcei the concerned funcgions a reasonable opportunity of being heard before refusing Membership to it.

OTCEI: Concept and Advantages | India | Financial Management

Ethics Committee to lay down procedures and designate compliance officer. The Arbitration Committee shall not take cognizance of any claim, complaint, difference or dispute which shall not be referred to it within such time as prescribed. For the purpose of this Chapter: Management and administration of the Fund. The Pherwani Committee has identified the shortcomings of the existing stock exchange system as follows and recommended establishment of OTCEI which has tried to address the following issues: The stomach’s role is to digest food.

Merge this question into. A Member may similarly share brokerage with any other person including an investor provided such person: The party appealing to the Arbitration Committee may state in writing the objections to the award of the arbitrators and shall unless exempted in whole or in part by the OTC Committee deposit with the Exchange in cash in full amount ordered to be paid or the securities or the value at the ruling market price of the securities orders to be delivered in the award.

The trading is entirely screen based with automated order machine.

The OTC Committee may from time to time create, constitute sub-committees to carry on business complying with all regulations and guidelines laid down by the OTC Committee. Withdrawal of Admission to Dealings on the Exchange in other cases. The Arbitration Committee shall make their award within such time as prescribed by the Exchange after entering on the reference or after having been called upon to act by notice in writing from any party or within such extended time as it may fix with the consent of the parties to the reference or as the Exchange may allow.

Brokerage and Commission on Applications. Payment To Default Committee. After making the award, the members of the Arbitration Committee shall sign such award and a signed copy of the same shall be delivered to each party.

Rehearing Ex Parte Award. A Member shall be bound to notify the Exchange immediately when it comes to know of a failure by any Member to discharge its liabilities in full.

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