Clients of barred stock-brokers told to close positions by March

February 24, 2016 12:48

Leading stock exchanges BSE and NSE have directed clients, having open positions in derivative segment through 22 barred trading members, to square off those positions by next month.

"Clients who have open positions in derivative segment through the 22 trading members as on close of February 17, 2016, can partially/fully roll over their near month open position (February expiry) to March month contract, wherever applicable. This needs to be done by February 25," the bourses said in similar-worded circular.

The rolled over position, if any, has to be squared up latest by March 31, they added.

Clients will not create any new position in derivative segments through these members. However, clients are allowed to creating any fresh positions through other trading members.

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