January 22, 2010

BSE Brokers  Forum launches portal to arrest client defaults  

From PFW Bureau

BSE Brokers Forum (BBF) launched its website www.bsebrokersforum.com on January 21, 2010 in Mumbai. The website was launched by J N Gupta, Executive Director, Securities and Exchange Board of India.

The website has features for assisting the trading members of the Stock Exchanges in their day today activities including:
·         A Compliance Calendar where the compliances deadlines would be readily available to the members
·         An Employers Corner where vacancies for jobs be listed, thus being a single point source of information for executives desirous of a career in the Indian Capital Markets
·         A Download section for downloading important documents and templates.

The main feature of the website is the section dealing with client defaults. Here, the members can share between themselves the details of defaulter clients. Due to the transparency created by the information shared in this process, it is expected that activities of rouge elements who try to disturb the market equilibrium by “broker hopping”, i.e. defaulting at one member and trading at another would be arrested, the company said in a press statement.