2021 has been nothing short of roller-coaster year with Lockdowns and re-openings on account of Pandemic. There was a string of milestones as usual, almost too many to count. From Stock Indices touching record highs to IPO valuations going higher and more compliance implementation in Stock Broking Industry.
While the pandemic continued to create challenges to normal life and business houses, these unprecedented events have helped us to clearly be more flexible, adaptive, and resilient. The lessons learnt in 2021 only ensures that we are better equipped while we enter the New Year, 2022 with greater hope and confidence.
In this 2021 roundup, we will summarize some of the important updates and developments during the year:
Rocket is now a robust Trading Platform with loads of new features and enhancements.
Highlighting few of them below for your quick reference:
- Interoperability is made LIVE in our ROCKET trading platform. This means that as a client you can buy a security in NSE and sell the same in BSE during the day based or wherever you get the best deal. Such trades would be netted for the purpose of margins. Know more…
- BSE Currency Derivatives segment enabled for Trading. Clients can now trade in Currency F&O in both NSE and BSE. Know more…
- Launch of new versions of our Trading platform Rocket brought in new features like Live Margin View, Trade Summary, Live P&L for DP Stocks and Derivative Positions, Faster Charts with 15 year history, Language Options for Hindi and Tamil, Share Feature, Guest user Option and IN APP KYC options etc. Know more…
- The much-awaited Trading from Charts facility was introduced in Rocket Web. Know more…
- You can now sell stocks from your DP Account without POA through the introduction of eDIS (Electronic Delivery Instruction Slip). This facility is now available in both Rocket Web and Rocket Mobile, iOS and Android platforms. Know more…
Changes to our Pricing makes transacting through us even more cost effective.
- ZERO AMC for DEMAT Account.
- ZERO charges for KYC changes like Bank accounts, Mobile and email ID.
- ZERO SMS charges.
- Monthly Plan fee of Rs.499 (Flat Pro brokerage plan) now enables you unlimited Brokerage free trades in any segment for any value. Earlier it was Rs.799 for Equity Futures, Rs.99 for Equity Options, Rs.99 for Commodity F&O and Rs.99 for Currency F&O. Check out the updated Pricing details and advantages here
Compliance and RMS changes.
We at Tradeplus as always, have been receptive and compliant to the regulators’ initiatives in strengthening Stock Broking Systems through new compliance implementations. Here are few important changes that were introduced during the year.
Introduction of 100% Peak Margin: SEBI had introduced the concept of ‘peak margins’. The margins that investors need to maintain with the broker for any trade is to be calculated based on the maximum value of positions taken by them during the day. Under the peak margin rules, initially traders were required to give 25% margin upfront for their trades. With effect from Sep’21 the traders are mandated to maintain 100% margin. Know more…
Changes to Running Account Settlement (RAS): As per the RAS process, Broker should settle the funds of the clients after considering the end of the day (EOD) obligation of funds as on the date of settlement across all the stock exchanges, at least once within a gap of 30 or 90 days between two settlements of running account as per the preference of the client. Following are new additions to this process:
- Brokers will have to first adjust the value of securities accepted as collateral from the clients by way of margin pledge and then they should adjust the client funds for settlement purposes
- Clients’ running account shall be considered settled only by making actual payment into clients’ bank account
- If a client has credit balance and has not done any transaction in the 30 calendar days since the last transaction, the credit balance should be returned to the clients by the Broker
Weekly Statement of Accounts: Brokers are now mandated by exchange to send weekly ledger statement and register of securities to the clients. The ledger statement will have the details of your fund transactions for the period while the register of securities will have the transaction details of your holdings the Demat Account with Tradeplus. Know more…
Segregated Margin Reporting: SEBI has come out with a framework for segregation and monitoring of collateral at client level to arrest any scope of misuse of client collateral by Brokers. Further to this, Brokers are now to report disaggregated information on collaterals up to the level of clients and proprietary collaterals to the Exchanges and clearing corporations. This brings in complete transparency to this system
Online Account Closure: SEBI vide the communication dated 15/7/2021 has advised Brokers to make available the facility for online closure of Trading Accounts. You can now not only open an account Online, but also close an account online. Know more…
Surveillance Obligation: Brokers have been mandated to put in place a mechanism that will generate automated alerts whenever suspicious transactions are detected in the client accounts. The alerts will be generated in case of unusual changes in the trading pattern of the clients, sudden trading in dormant accounts as also in suspected cases of circular trading, ‘pump and-dump’, ‘front running’ and ‘wash-sale’ activities etc. Tradeplus has framed a Surveillance policy further to which such clients would be contacted for clarification and accordingly would take appropriate action whenever required.
6 KYC mandatory attributes: Realizing the importance of KYC details of the clients, SEBI has advised Brokers to make it mandatory to update their clients’ six KYC attributes. The six attributes are of KYC are PAN, Name, address, mobile number, email id and financial details. If KYC is not updated the broker is advised to mark the account as dormant till the KYC is updated.
What’s in store for Quarter 1 of 2022 ?
- Algo Trading facility: Very soon clients of Tradeplus would be able to configure and trade using Algos.
- Client Level APIs: Tradeplus would soon release client level API’s. Clients would now be able develop your own trading platforms based on these API’s or use Trading platform provided by Fintech companies where we will be integrating our API’s.
- Online KYC Modification module: Work is almost over on this next gen platform which will enable you to modify any of your account details completely online.
- Aadhaar QR Code based Account Opening which would make new Account opening super-fast affair at Tradeplus
- We are also working on a New process that would make Trading through MTF (Margin Trade Funding) lot simpler.
- Bulk e-DIS Mandate that would remove the requirement of giving a mandate each time you make a sale transaction
From all of us at Tradeplus, wishing you and your family a Healthy and Prosperous New Year, 2022
With best wishes,