internet & wireless technology based trading facility provided by stock brokers
(All the clauses mentioned in the ‘Rights and Obligations’ document(s) shall be
applicable. Additionally, the clauses mentioned herein shall also be applicable.)
- Stock broker is eligible for providing Internet based trading (IBT) and securities
trading through the use of wireless technology that shall include the use of devices
such as mobile phone, laptop with data card, etc. which use Internet Protocol (IP).
The stock broker shall comply with all requirements applicable to internet based
trading/securities trading using wireless technology as may be specified by SEBI
& the Exchanges from time to time.
- The client is desirous of investing/trading in securities and for this purpose,
the client is desirous of using either the internet based trading facility or the
facility for securities trading through use of wireless technology. The Stock broker
shall provide the Stock broker’s IBT Service to the Client, and the Client shall
avail of the Stock broker’s IBT Service, on and subject to SEBI/Exchanges Provisions
and the terms and conditions specified on the Stock broker’s IBT Web Site provided
that they are in line with the norms prescribed by Exchanges/SEBI.
- The stock broker shall bring to the notice of client the features, risks, responsibilities,
obligations and liabilities associated with securities trading through wireless
technology/internet/smart order routing or any other technology should be brought
to the notice of the client by the stock broker.
- The stock broker shall make the client aware that the Stock Broker’s IBT system
itself generates the initial password and its password policy as stipulated in line
with norms prescribed by Exchanges/SEBI.
- The Client shall be responsible for keeping the Username and Password confidential
and secure and shall be solely responsible for all orders entered and transactions
done by any person whosoever through the Stock broker’s IBT System using the Client’s
Username and/or Password whether or not such person was authorized to do so. Also
the client is aware that authentication technologies and strict security measures
are required for the internet trading/securities trading through wireless technology
through order routed system and undertakes to ensure that the password of the client
and/or his authorized representative are not revealed to any third party including
employees and dealers of the stock broker.
- The Client shall immediately notify the Stock broker in writing if he forgets his
password, discovers security flaw in Stock Broker’s IBT System, discovers/suspects
discrepancies/ unauthorized access through his username/password/account with full
details of such unauthorized use, the date, the manner and the transactions effected
pursuant to such unauthorized use, etc.
- The Client is fully aware of and understands the risks associated with availing
of a service for routing orders over the internet/securities trading through wireless
technology and Client shall be fully liable and responsible for any and all acts
done in the Client’s Username/password in any manner whatsoever.
- The stock broker shall send the order/trade confirmation through email to the client
at his request. The client is aware that the order/ trade confirmation is also provided
on the web portal. In case client is trading using wireless technology, the stock
broker shall send the order/trade confirmation on the device of the client.
- The client is aware that trading over the internet involves many uncertain factors
and complex hardware, software, systems, communication lines, peripherals, etc.
are susceptible to interruptions and dislocations. The Stock broker and the Exchange
do not make any representation or warranty that the Stock broker’s IBT Service will
be available to the Client at all times without any interruption.
- The Client shall not have any claim against the Exchange or the Stock broker on
account of any suspension, interruption, non-availability or malfunctioning of the
Stock broker’s IBT System or Service or the Exchange’s service or systems or non-execution
of his orders due to any link/system failure at the Client/Stock brokers/Exchange
end for any reason beyond the control of the stock broker/Exchanges.