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Coronavirus impact: NSE allows brokers to move trading terminals home

The exchange also allows some of its employees to work from home

Samie Modak  |  Mumbai 

National Stock Exchange
National Stock Exchange

In a bid to allow stockbrokers to work remotely, the (NSE) has allowed relocation of trading terminals to locations other than those authorised. In a circular titled “operational business continuity measures Covid-19”, the exchange said in view of the pandemic trading members will have the option of relocating their trading infrastructure subject to conditions.

The exchange has asked broking houses to frame an internal policy to stating proper monitoring and controls to prevent unauthorised trading activity. Further, brokerages will have to provide details of users who will be permitted to operate from remote locations. The brokerages will be responsible to ensure that only approved users get access to terminals.

“Before operation of terminals from the alternate locations, provide the list of the approved users, terminal details, segment, certificate details and the alternate location address to the exchange,” said.

Under the existing policy, a trading terminal can only be operated from the main office or branches. Also, brokers have to display Sebi registration certificate on their notice board.

The exchange has as a temporary measure these requirements stand relaxed till April 30 following which “the terminals shall be operated only from the locations reported to the exchange.”

has said the internal policy for working from alternative locations will have to be approved by a senior authority such as CEO, director or compliance officer.

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Meanwhile, has also issued a ‘work from home advisory’ for its employees. Sources say it has divided its employees into two categories—those who can from work from home and those who need to come to the exchange premises.

On Friday, the Maharashtra government ordered the closure of all working place in Mumbai, Pune, Pimpri Chinchwad and Nagpur till March 31. The state government, however, said the directive will not be applicable to stock market ecosystem.

“Stock exchanges, clearing corporations, depositories, stockbrokers and Sebi-registered participants operating through these institutions will be exempted,” Chief Minister of Maharashtra Uddhav Thackeray tweeted on Friday.

Globally exchanges and regulatory authorities are grappling with keeping stock functioning in the wake of the outbreak.

The US Securities and Exchange Commission has announced that it has transitioned to a “full telework posture” in response to the outbreak.

First Published: Sat, March 21 2020. 10:24 IST
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