Tiqs offers trading in most of the stocks / contracts which are listed or permitted for trading by the Stock Exchanges. However, Tiqs discourages/ restricts trading in penny stocks by the clients as they are susceptible to manipulation and risky for investors and in turn to Tiqs.
“Penny Stocks” for this purpose shall include:
The stock broker may from time-to-time limit (quantity/ value)/refuse orders in one or more securities due to various reasons including market liquidity, value of security(ies), the order being for securities which are not in the permitted list of the stock broker / exchange(s) / SEBI. Provided further that stock broker may require compulsory settlement/advance payment of expected settlement value/delivery of securities for settlement prior to acceptance/placement of order(s) as well. The client agrees that the trade related losses, if any on account of such refusal or due to delay caused by such limits, shall be borne exclusively by the client alone. The stock broker may require reconfirmation of orders, which are larger than that specified by the stock broker's risk management, and is also aware that the stock broker has the discretion to reject the execution of such orders based on its risk perception
Setting up client's exposure limits and conditions under which a client may not be allowed to take further position or the broker may close the existing position of a client. The stock broker may from time to time impose and vary limits on the orders that the client can place through the stock broker's trading system (including exposure limits, turnover limits, limits as to the number, value and/or kind of securities in respect of which orders can be placed etc.). The client is aware and agrees that the stock broker may need to vary or reduce the limits or impose new limits urgently on the basis of the stock broker's risk perception and other factors considered relevant by the stock broker including but not limited to limits on account of exchange/ SEBI directions/limits ( such as broker level/ market level limits in security specific / volume specific exposures etc.) ,and the stock broker may be unable to inform the client of such variation, reduction or imposition in advance. The client agrees that the stock broker shall not be responsible for such variation, reduction or imposition or the client's inability to route any order through the stock broker's trading system on account of any such variation, reduction or imposition of limits. The client further agrees that the stock broker may at any time, at its sole discretion and without prior notice, prohibit or restrict the client's ability to place orders or trade in securities through the stock broker, or it may subject any order placed by the client to a review before its entry into the trading systems and may refuse to execute / allow execution of orders due to but not limited to the reason of lack of margin / securities or the order being outside the limits set by stock broker / exchange/ SEBI and any other reasons which the stock broker may deem appropriate in the circumstances.
The client agrees that trade related losses, if any on account of such refusal or due to delay caused by such review, shall be borne exclusively by the client alone. The stock broker is required only to communicate / advise the parameters for the calculation of the margin / security requirements as rate(s) /percentage(s) of the dealings, through anyone or more approved means or methods such as post /speed post / courier / registered post /registered A.D /facsimile / email / voice mails /telephone (telephone includes such devices as mobile phones etc.) including SMS on the mobile phone or anyother similar device; by messaging on the computer screen of the client's computer; by informing the client through employees / agents of the stock broker; by publishing /displaying it on the website of the stock broker / making it available as a download from the website of the stock broker; by displaying it on the notice board of the branch /office through which the client trades or if the circumstances, so require, by radio broadcast / television broadcast /newspapers advertisements etc; or any other suitable or applicable mode or manner.
The client agrees that the postal department / the courier company / newspaper company and the e-mail / voice mail service provider and such other service providers shall be the agent of the client. Once parameters for margin / security requirements areso communicated, the client shall monitor his / her / its position (dealings / trades and valuation of security) on his / her / its own and provide the required / deficit margin / security forthwith as required from time to time.
The client is not entitled to trade without adequate margin/security and that it shall be his/her/its responsibility to ascertain beforehand the margin/ security requirements for his/her/its orders/trades/deals and to ensure that the required margin/security is made available to the stock broker in such form and manner as may be required by the stock broker. If the client's order is executed despite a shortfall in the available margin, the client shall make up the shortfall immediately. The client further agrees that he/she/it shall be responsible for all orders (including orders that may be executed without the required margin in the client's account) &/or any trade related claim/loss/damage arising out of the nonavailability/shortage of margin /security required by the stock broker & / or exchange & / or SEBI. The stock broker is entitled to vary the form (I: e., the replacement of the margin / security in one form with the margin / security in any other form, say, in the form of funds instead of shares) & / or quantum & / or percentage of the margin & / or security required to be deposited / made available, from time to time.
The client is not entitled to trade without adequate margin/security and that it shall be his/her/its responsibility to ascertain beforehand the margin/ security requirements for his/her/its orders/trades/deals and to ensure that the required margin/security is made available to the stock broker in such form and manner as may be required by the stock broker. If the client's order is executed despite a shortfall in the available margin, the client shall make up the shortfall immediately. The client further agrees that he/she/it shall be responsible for all orders (including orders that may be executed without the required margin in the client's account) &/or any trade related claim/loss/damage arising out of the nonavailability/shortage of margin /security required by the stock broker & / or exchange & / or SEBI. The stock broker is entitled to vary the form (I: e., the replacement of the margin / security in one form with the margin / security in any other form, say, in the form of funds instead of shares) & / or quantum & / or percentage of the margin & / or security required to be deposited / made available, from time to time.
The margin / security deposited by the client with the stock broker are not eligible for any interest. The stock broker is entitled to include / appropriate any / all pay-out of funds & / or securities towards margin / security without requiring specific authorisations for each pay-out.
The stock broker is entitled to transfer funds &/ or securities from his account for one exchange & / or one segment of the exchange to his / her / its account for another exchange & / or another segment of the same exchange whenever applicable and found necessary by the stock broker.
The client also agrees and authorises the stock broker to treat / adjust his/her / its margin / security lying in one exchange & / or one segment of the exchange / towards the margin / security / pay in requirements of another exchange & / or another segmentof the exchange. The stock broker is entitled to disable/freeze the account &/or trading facility/any other service. facility, if, in the opinion of the stock broker, the client has committed a crime/fraud or has acted in contradiction of the Mandatory and Voluntary Client Registration Documents or / is likely to evade / violate any laws, rules, regulations, directions of a lawful authority whether Indian or foreign or if the stock broker so apprehends.
The stock broker is entitled to charge brokerage within the limits imposed by exchange which at present is as under:
For Cash Market Segment:
The maximum brokerage chargeable in relation to trades effected in the securities admitted to dealings on the Capital Market segment of the Exchange shall be _ % of thecontract price exclusive of statutory levies. It is hereby further clarified that where the sale / purchase value of a share is Rs._/ - or less, a maximum brokerage of _ paise per share may be collected.
For Option contracts:
Brokerage for option contracts shall be charged on the premium amount at which the option contract was bought or sold and not on the strike price of the option contract. It is hereby clarified that brokerage charged on options contracts shall not exceed _% of the premium amount or Rs _/- (per lot) whichever is higher.
Further, statutory levies like SEBI Turnover Fees, Exchange Transaction Charges, Stamp Duty, STT and GST etc. shall be charged extra as applicable. Schedule of Brokerage currently applicable shall be as per Tariff sheet provided in the account Opening document. The slab rate of brokerage shall be reviewed by Tiqsfrom time to time and may be changed in such manner as Tiqs may deem fit provided that the same would not contradict the regulatory provisions. Tiqs is entitled to charge brokerage within the limits imposed by exchanges.
The client agrees that any amounts which are overdue from the client towards trading or on account of any other trade related reason to the stock broker willbe charged with delayed payment charges at 0.050% per day. The client agrees that the stock broker may impose fines / penalties at 0.050% per day for any orders / trades / deals / actions of the client which are contrary to the Mandatory and Voluntary Client Registration Documents / rules / regulations / bye laws of the exchange or any other law for the time being in force. Further where the stock broker has to pay any fine or bear any punishment from any authority in connection with / as a consequence of / in relation to any of the orders / trades /deals / actions of the client, the same shall be borne by the client. The client agrees to pay to the stock broker brokerage, commission, fees, all taxes, duties, levies imposed by any authority including but not limited to the stock exchanges.
The right to sell clients' securities or close clients' positions, without giving noticeto the client, on account /of non-payment of client's dues. (Limited to Margin/Settlement Obligations)
The stock broker maintains centralised banking and securities handling processes and related banking and depository accounts at designated place. The client shall ensure timely availability of funds / securities in designated form and manner at designated time and in designated bank and depository account(s) at designated place, for meeting his/her/its pay in obligation of funds and securities. The stock broker shall not be responsible for any.
Claim/loss/damage arising out of non-availability/short availability offunds/securities by the client in the designated account(s) of the stock broker for meeting the pay in obligation of either funds or securities. If the client gives orders / trades in the anticipation of the required securities being available subsequently for pay in through anticipated pay-out from the exchange or through borrowings or any off market delivery(s) or market delivery(s) and if such anticipated availability does not materialise in actual availability of securities / funds for pay in for any reason whatsoever including but not limited to any delays / shortages at the exchange or stock broker level / non release of margin by the stock broker etc., the losses which may occur to the client as a consequence of such shortages in any manner.
Such as on account of auctions / square off / closing outs etc., shall be solely to the account of the client and the client agrees not to hold the stock broker responsible for the same in any form or manner whatsoever. In case the payment of the margin / security is made by the client through a bank instrument, the stock broker shall be at liberty to give the benefit / credit for the same only on the realization of the funds from the said bank instrument etc. at the absolute discretion of the stock broker. Where the margin /security is made available byway of securities or any other property, the stock broker is empowered to decline its acceptance as margin / security & / or to accept it at such reduced value as the stock broker may deem fit by applying haircuts or by valuing it by marking it to market or by any other method as the stock broker may deem fit in its absolute discretion.
Pay in Shortage-
The client may not receive shares on T+2 in case there is an internal shortage situation with Tiqs i.e., the buyer and seller are both Tiqs clients and the seller defaults in delivery due to which the buyer may not receive the shares.
The stock broker has the right but not the obligation, to cancel all pending orders and to sell/close / liquidate all open positions/ securities / shares at the pre-defined square off time or when Mark to Market (M-T-M) percentage reaches or crosses stipulated margin percentage mentioned on the website, whichever is earlier. The stock broker will have sole discretion to decide referred stipulated margin percentage depending upon the market condition. In the event of such square off, the client agrees to bear all the trade related losses based on actual executed prices. In case open position (Le. short/long) gets converted into delivery due to non-square off because of any reason whatsoever, the client agrees to provide securities/funds to fulfil the pay in obligation failing which the client will have to face auctions or internal close outs; in addition to this the client will have to pay penalties and charges levied by exchange in actual and losses, if any. Without prejudice to the foregoing, the client shall also be solely liable for all and any penalties and charges levied by the exchange(s). The stockbroker is entitled to prescribe the date and time by which the margin / security ist o be made available and the stock broker may refuse to accept any payments in any form after such deadline for margin / security expires. Not withstanding anything to the contrary in the Mandatory and Voluntary Client RegistrationDocuments or elsewhere, if the client fails to maintain or provide the required margin/ fund / security or to meet the funds/margins/ securities pay in obligations for the orders / trades / deals of the client within the prescribed time and form, the stock broker shall have the right without any further notice or communication to the client to take any one or more of the following steps:
Shortages in obligations arising out of internal netting of trades. BSE has a window wherein the internal short deliveries can get auctioned as per the normal auction process. Internal short deliveries are not covered by the auction conducted on the NSE. It is due to this limitation on the NSE we follow the procedure as mentioned below:
Conditions under which a client may not be allowed to take further position or the broker may close the existing position of a client. We have margin-based RMSSystem. Client may take exposure up to the amount of margin available with us.Client may not be allowed to take position in case of non-availability/ shortage of margin as per our RMS policy of the company. The existing position of the client is also liable to square off/ close out without giving notice due to shortage of margin / non making of payment for their pay-in obligation / outstanding debts.
De-registering a client Notwithstanding anything to the contrary stated in theMandatory and Voluntary Client Registration Documents the stock broker shall be entitled to terminate the Mandatory and Voluntary Client Registration Documents with immediate effect in any of the following circumstances:
However notwithstanding any termination of the Mandatory and Voluntary ClientRegistration Documents, all transactions made under/pursuant to this Mandatory and Voluntary Client Registration Documents shall be subject to all terms and conditions of this Mandatory and Voluntary Client Registration Documents and parties to this Mandatory and Voluntary Client Registration Documents submit to exclusive jurisdiction of courts of law at the place of execution of this Mandatory and Voluntary Client Registration Documents by Stock Broker. Client Acceptance of Policies and Procedures stated here in above:
l/We have fully understood the same and do hereby sign the same. These Policies and Procedures may be amended / changed by the broker, provided the change is informed to me / us with through anyone or more approved means or methods such as post / speed post / courier / registered post / registered AD / telegram /e-mail / voice mails / telephone (telephone includes such devices as mobile phones etc.) including SMS on the mobile phone or any other similar device; by messaging on the computer screen of the client's computer; by informing the client through employees / agents of the stock broker; by publishing / displaying it on the website of the stock broker / making it available as a download from the website of the stock broker; by displaying it on the notice board of the branch /office through which the client trades or if the circumstances, so require, by radio broadcast / television broadcast / newspapers advertisements etc; or any other approved suitable or applicable mode or manner by an advance notice of 15days. I/we agree that the postal department / the courier company /newspaper company and the e-mail/ voice mail service provider and such other service providers shall be my/our agent. These Policies and Procedures shall always be read along with the Mandatory and Voluntary Client Registration Documents and shall be compulsorily referred to while deciding any dispute / difference or claim between me / us and stock broker before any court of law / judicial / adjudicating authority including arbitrator / mediator etc.
Temporarily suspending or closing client's account at Client's request. On the written request of the client, the client account can be suspended temporarily and can be re-activated on the written request of the client only. During suspension period, the market transaction will be prohibited. However, client’s pending settlement can take place. Tiqs On the written request of the client, the client account can be closed provided the client adheres to formalities for account closure including settlement of all dues in the account and closing of all open position. If the client wishes to again open a broking account, then the client shall have to complete the KYC and account opening formalities once again.
A Trading Account (irrespective whether having debit or credit balance) shall be classified as dormant account in case there are no transactions for a period in excess of 12 (Twelve) calendar months from the last transaction date. TheDormant Accounts shall be frozen for further transaction(s). Transactions here mean any of the following:
On classification of any account as dormant account as stated above, Tiqs willinform the client within seven days of such classification. A dormant account canbe re-activated on receipt of a request for reactivation along with valid proof ofidentity. These policies and procedures can be changed by Tiqs from time to timewith prior notice of 15 days.