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Terms of the Site
  1. General : This document contains important information regarding the terms and conditions, which appy to your E-Trading Account with Market Creators Limited. (Herein after referred as "MCL") PLEASE READ THIS DOCUMENT CAREFULLY AND RETAIN IT FOR FUTURE REFERENCE. Please note that the information contained herein is subject to change without notice.
    To start e-Trading with MCL you need to open a trading Account and a Depository Account with MCL. All receipts and payments for buying and selling of shares and all commissions and charges will be posted to your trading Account, which is opened with us. Shares, which you buy and sell through the trading Account, will be received in or delivered from your Depository Account lying with us.
    Here, Trading account refers to the account of client maintained by MCL in their books of accounts.
    If you already have a Depository Account with MCL, then the same Account can be linked to your e-Trading Account. You have to provide us your Account details at the time of becoming an E-Trading customer.
    Before your Account get’s operative, it required that you fill and sign all forms / agreements i.e. KYC (Know your client agreement) which form part of your Account opening kit, and supply us with all the relevant legal documents and financial information which law requires us to maintain. The information supplied by your must be is accurate and truthful. You also expressly authorize MCL to obtain reports concerning your credit standing and business conduct.
    If your application is approved, MCL will open an e-Trading Account (an "Account") for you. MCL reserve the absolute right to either accept or reject your application on any grounds whatsoever and you agree that you shall not dispute the result in any manner whatsoever
    Further you assume full responsibility with respect to transactions in or for your Account and your investment decisions. MCL and its officers, directors, employees, agents and affiliates will have no liability with respect to transactions in or for your Account and your investment decisions.

  2. Applicable Rules and Regulations : All transactions in your Account shall be subject to the constitution, rules, regulations, customs and usage of the exchange or market, and its clearing house, if any, where the transactions are executed by MCL or its agents, including MCL subsidiaries and affiliates. Also, where applicable, the transactions shall be subject to the provisions of the Securities and Contracts Regulations Act (SCRA), as amended, and to the rules and regulations of the Securities and Exchange Board of India (SEBI), Central Depository Services (India) Limited (CDSL), the exchanges where MCL will facilitate trading, and any applicable self-regulatory organization.

  3. Eligibility for trading : A person who is over 18 years old and in position to operate an account on individual basis can open his/her account with MCL. As per the Indian regulations every client should provide their financial details to its Broker. Hence every client needs to provide the details of their bank Account, PAN CARD No allotted by Income Tax Department etc. Client signatures on the Account opening form need to be the same, as maintained in the bank records.

  4. Exchange and segment you can trade on : MCL currently executes all trades at the National Stock Exchange Of India Ltd.
    1. Only demat stocks can be traded with MCL.
      Only Buy/Sale: We may not allow certain shares for trading if price manipulation is suspected or stock being illiquid or for any other reason.

    2. Orders : Validity period of the orders: All orders will be valid for the day until the normal market closes. On closure of the market the orders (or the pending part of the order) will automatically lapse.
      Though orders are usually routed to the marketplace within seconds, certain orders, at MCL sole discretion, may be subject to manual review and entry, which may cause delays in the processing of your orders. Clients also understand that you will receive the price at which your order executes in the marketplace, which may be different from the price at which the Scrip or option is trading when your order is entered into our system.
      Clients also understand that market orders may get executed at a price significantly unfavorable to you, depending upon market fluctuations.

      Orders are pre-validated before placing on the exchange : All orders placed on MCL will be pre-validated against your cash and shares balances before placing them on the exchange. The validation rules are subject to change from time to time by MCL. If the funds or the shares are insufficient to process the orders, then the order will be rejected.
      Order acceptance : After MCL validates the order; it is placed on the exchange. The Exchange may accept or reject the order, based upon its internal rules and regulations. Modify/Cancel orders : MCL has provided the facility to modify (price and quantity) or cancel un-executed orders. Client can see the status or their orders through the order tracker (from getting started guide). However, between the submission of modify/cancel request and placing the same on the exchange all or some part of the pending order may get executed. And modification or cancellation can be applied only on the yet un-executed part of the order.

    3. Purchase transaction : Net purchases made in any Scrip by client will be credited to client register Depository Account with MCL. Shares are available for credit as per the settlement schedule of the exchanges, after the full payment is made to the clearinghouse of the exchange. Purchaser should note that fund pay-in to MCL should be meet on T+1 basis.
      Sometimes, it may happen that the clearinghouse may not be able to deliver the full deliver quantity, which is to be receivable. In such cases, the exchange will try to buy the short delivery by conducting an auction, resulting in a delayed delivery into your Account, or will force a close-out and credit the money into your Account, if delivery cannot be arranged even through an auction process.
      It may also happen that the client's buying/selling obligation result in internal obligation because of the Exchange method of settling trades on net obligation at the broker level. If any selling client fails to deliver the required securities and due to this buyer does not get the security in payout then MCL will square of the transaction at 5% above the closing price on the auction day and that amount will be credited to buyer and same amount will debited to the seller.

      Sale Transaction : MCL generally stipulates that Sell Orders can be accepted only against available shares in your Depository Account, which are good and deliverable to the exchange. Any order inadvertently accepted without available shares in the Account will be subject, at MCL's discretion, or as per the exchange's rules and regulations to cancellation or buy-in.
      Available shares means shares for which clients are beneficially entitled to as per CDSL records in Clients Depository's account plus securities purchased by Client in the settlement in which Client intend to sell minus shares sold by Client pending settlement with the Exchange. However, short sale can be done in scripts approved by MCL.
      For all sales done in client Account, if there is a net sales position, as on that day in any scrip, MCL will block or transfer shares from client's Depository Account to the Pool Account for delivering to the clearinghouse of the Exchange.
      Shares once transferred out of the Depository Account cannot be transferred back.
      Fund pay out cannot be paid to client until the shares are delivered to the clearinghouse of the exchange and a credit is received thereof from exchange. To that extent, client withdrawal balance can be lesser than cash account balance.
      The fund pay out will be transfer to client as per the exchange norms. But it may be retained only on the client request.
      Further if the clients purchase the shares on T day and sold before the receipt of the same shares; (i.e. on or before T+2 basis) the risk of delivery shortage creating auction would be on client, MCL would not be responsible for any loss if any occurred due to same transaction.

    4. Fund Pay-in & Pay out : Client can deposit fund pay-in to MCL mentioned HDFC Bank Account by using Internet banking, or by personal cheque or a demand draft in favour of Market Creators Limited payable at Baroda Branch.
      Fund pay out will be issued on T+3 basis for those clients who are having over all credit balance considering all segments.

    5. Depository Transactions : All security transactions in client Depository Account (Account transfers for trades other than what is done with MCL), pledge/unpledge, off-market transfers and all such other transitions, which CDSL allows, can be done through submission of instruction slips to MCL, with the correct signatures of all holders. All rules, regulations and time deadlines prescribed for those transactions, as per the client agreement and CDSL rules will continue to apply for such transactions and instructions.

    6. Contract notes : As per the exchange guidelines MCL will issue the contract notes for all buying and selling of shares within 24 hours of closing of Market hours of that trade date. MCL will issue digital contract note only. On the request of client only physical contract note will be issue. Physical Contract notes will be sent by courier/ post.

    7. Exposure Limit : Exposure limit will be given to client on basis of their debit balance as well as their deposit lying with MCL.

    8. Disclosure of Information regarding client : MCL hereby undertakes to maintain the details of the client as mentioned in the client registration form or any other information pertaining to the client, in confidence and that he/she shall not disclose the same to any person/entity except as required under the law. However client allow to MCL to share the details of the client as mentioned in the client registration form or any other information pertaining to the client with parties/entities other than required under law with the express permission of the client.

    9. Applicable Rules and Regulations : All transactions in Client Account shall be subject to the constitution, rules, regulations, customs and usage of the exchange or market, and its clearing house, if any, where the transactions are executed by MCL or its agents, including its subsidiaries and affiliates. Also, where applicable, the transactions shall be subject to the provisions of the Securities and Contracts Regulations Act (SCRA), as amended, and to the rules and regulations of the Securities and Exchange Board of India (SEBI), Bombay Stock Exchange Limited (BSE), National Stock Exchange of India Limited (NSE) and Central Depository Services (India) Limited where MCL will facilitate trading, and any applicable self-regulatory organization.
SEBI REGISTRATION NO:NSE CM INB 230696230       NSE F&O:INF 230696230      BSE CM:INB 010696236          MCX MEMBERSHIP ID:12535 MAPIN NO:10014845        CDSL : IN-DP-CDSL-291-2005
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