Policies & Procedures
Updted 25th March 2024
Introduction
NCO Securities and Share Broking Pvt Ltd. (erstwhile NCO, hereinafter referred to as NCO) is a member of the National Stock Exchange and Bombay Stock Exchange in the Equity and Equity Derivatives segment, having its Registered Office at No 350,1st Floor, 36th A Cross 7th Main Rd 5th Block Jayanagar, Bengaluru, KA 560041.
For the purpose of these Policies & Procedures, wherever the context so mentions "Client”, “You" or "Your", it shall mean any natural or legal person who has agreed to open an account or initiate the process of opening an account with NCO by providing their information while registering on the platform as a user. NCO allows any person to surf the website without registering on the website. The term "We", "Us”, "Our" and "Team NCO" shall mean M/s NCO.
Trades
The trades of clients shall be carried out in the respective client code only. The dealers shall take utmost care while executing the trades of the clients regarding the accuracy of Client Code, Quantity, Price, etc.
Product:
CNC (Cash and Carry): If you want to buy for Delivery (buy stock and hold them overnight) in CM segment, you will have to place your orders under product type “CNC”.
NRML (Normal): If you wish to carry forward your Derivative positions to the next trading day, you will have to place your orders under product type “NRML”.
MIS (Margin Intraday Square off): If you wish to trade for intraday purpose in any Exchange and segment (CM or F&O), you will have to place your orders under product type “MIS”.
Funds
System of Payin and Payout of funds:
Payin: Clients can transfer funds into the Trading Account only from such bank accounts which are registered with NCO. Payments will only be accepted form of Online Bank Transfers, Payment Gateway transfers, UPI or Cheques. Any transfer from a non-registered bank account will not be considered and the client does not get any trading limit credit for such transfers.
Payment Gateway: The client can transfer funds from the instant payment gateway facility available on the trading platform or on the back office. Such transfers will be charged at ₹9 plus 18% GST per transfer.
NEFT/RTGS/Cheque: If a client chooses to transfer using NEFT or by means of cheque, there will be no cost. Customers can use fund transfer facility from their Bank wherein they can register HDFC Bank a/c of NCO Securities and Share broking Pvt Ltd, to which they can transfer funds. The Fund receipt confirmation typically takes 1-3 hours for RTGS and 1 to 4 hours for NEFT.
If the client transfers funds via cheque, the details of the transfer along with a copy of the cheque should be made available to NCO for the credit to be updated on the trading account.
Payout: All pay-outs will have to be placed on the Backoffice access provided to the clients. NCO approves the pay-out request as mentioned below.
Pay-Out is processed once a day and will be done to the Primary bank account mapped to the clients trading account
Pay-Out placed on a calendar day will be processed same day
Please note Pay-Out will not be processed on Saturday, Sunday and holidays
Margins
NCO does not engage in the business of Client Funding. Clients are required to have sufficient balance in their accounts to hold/carry forward positions.
NSE/BSE Equity: NCO has a policy of giving up to 5 times Intraday leverage for stocks on which F&O trading is allowed. 100% margin is required to hold the position.
NSE Futures: 100% of Total Margin (Span & Exposure) is required to take intraday positions. 100% of Total margin is required to carry forward positions.
Intraday products square off timings:
Equity/Cash - 3:25 PM onwards
Equity derivatives - 3:25 PM onwards
*Note:
Intraday square off timings can change based on the discretion of our risk management department.
A Call & Trade charge of ₹50 will be applicable for all positions squared off by our RMS desk, including auto square off.
If any intraday position or an MIS trade is not squared off on the same day due to any link or system failure or any risks associated with internet/wireless-based trading which may occur at the end of the Client, NCO or the respective Exchange, it shall be treated as a Cash and Carry ("CNC") or NRML position and carried forward to the next trading day. In case of such a situation arising, the onus of squaring off the position will be on the Client. Our RMS desk shall square off any such position, without the requirement of a margin call, if the necessary cash is not available in the Client's account.
Option premium received from writing options will not be considered as Cash/Capital.
Positions which do not have sufficient funds can be cut any time at the discretion of our RMS desk. There will be no margin calls or intimation from our RMS desk.
Any open positions can be squared off at the discretion of our RMS desk If the funds available in your account are short of exchange specified margins. There will be no margin call before the position is squared off. During times of extreme volatility, the loss could be more than the funds available in your account before the position is squared off. All resulting charges or debts that might occur from such square offs will have to be borne by the client.
Collateral margin will not be considered for equity delivery positions.
MIS positions will automatically be squared off at the end of each trading day as mentioned above timing
Fines levied by the exchange for short margin will be payable by the client.
Clients will have to ensure all intraday products are closed by the EOD.
Because of illiquidity of stock option contracts, market orders have been disabled on stock options. Only limit orders are allowed. Place a limit buying order higher than the current price or selling order below the current price, this will act as good as market order but will also protect from any impact cost due to illiquidity.
Instruments available for trading at NCO are subject to the discretion of the risk management team, and these may change from time to time for various reasons.
In case your account is in debit balance and/or if you have insufficient funds to manage your trading positions, you will be charged an interest of 0.05% per day as delayed payment charges.
All information mentioned here is subject to change at the discretion of our Risk management team.
Contract notes and margin statement
NCO will issue contract notes & margin statements to its clients within 24 hours of the trade taking place. Along with the Contract Note, the client shall also be furnished with a copy of the daily margin status which is also available to be viewed on their respective Backoffice Personal Ledger.
NCO Charges
Online Clients we charge zero brokerage for Equity Delivery trades and 0.05% or Rs.20 per whichever is lower for intraday trades.
Equity Future and Options, we charge Rs.20 per trade
Brokerage calculator:
Complete List Of changes:
For Offline clients we charge as per tariff sheet agreed by the client for full services.
Other Charges:
• Account opening (Trading & Demat) – ₹ 200
• Annual Maintenance Charges for Demat– Rs 300
• DP Charges – Rs 8 (NCO) plus ₹5.5 (CDSL)
• STT, GST, NSE Turnover and Transaction Charges, SEBI charges are all as applicable market-wide
• GST will be levied additionally on all charges mentioned in this document as and wherever applicable.
Debit balance
All clients are advised to make the payment before the pay-in time on the settlement day, though there are instances wherein client may delay the payment beyond the settlement date. Although, it is obligatory for a broker to meet the settlement obligation in time, therefore, in order to ensure timely receipt of funds from clients towards their payment obligation, “charges for delayed payment” are levied in the client’s account. The sum towards “charges for delayed payment” is levied to discourage delayed payment from clients who do not deposit the required sum of money before the payin time on the payin day. “Charges for delayed payment” are levied on the respective ledger debit of the clients at a rate of 0.05% per day of the debit balance in the account. For the purpose of reckoning debit balance, the debit balance in the client ledger is consolidated across all segments of the respective exchange giving effect to the release of margin.
Collateral Margins
You will be able to use this entire margin after haircut for taking intraday or overnight positions in Futures, and for writing Options of equities & indices. You will not be able to use this margin to buy Options or take further positions on the equity segment.
Exchanges stipulate that for F&O positions, 50% of the margin needs to compulsorily come in cash and the remaining 50% can be in terms of collateral margin. If you don’t have enough cash, your account will be in debit balance and there will be a delayed payment (interest) charges, charge of 0.035% per day applicable on the debit amount. So, if you take positions that require a margin of Rs 2 lakh, you will need at least Rs 1,00,000 in cash irrespective of how much collateral margin you have. Assuming you don’t have this Rs 1,00,000, whatever you are short by will be the debit balance for the day, and delayed payment (interest) charges will be applicable for that amount.
Liquid funds are considered as cash equivalents by the exchange, so the above 50% rule wouldn’t apply. The Margin received from pledging liquid funds will be as good as having cash in your trading account. All cash equivalent stocks are updated our link.
All delayed payment (interest) charges accumulated will be debited everyday on the ledger. A link to see cumulative delayed payment (interest) charges calculation can be found on the holding page itself.
Closing of accounts/dormant account
Account shall be closed upon a specific request from the client. The closure shall be effective only over a period of one month has elapsed from the date of application/intimation or the date of settlement of account whichever is later. Dormant accounts are concerned, we do not close such accounts, but mark the same as “Inactive” till further action by the concerned client.
Inactive Account
Client Account would be treated as INACTIVE if there is no transaction (trade) in the account continuously for 12 Calendar months in any segment
Policy on Unauthenticated News Circulation
• We do not provide any kinds of tips and unauthenticated news circular to our clients, nor allow any of our employees to circulate unauthenticated news.
We even do not permit any of our employees to indulge in daily trading activities.
We are very particular to enter the orders as per the instruction of our clients.
Many a times client asks to us about our opinion on market movement & Market forecast but we have instructed all our employees to refrain from giving any kind of stock specific market forecast.
Online Surveillance
The surveillance team watches the online trades as they happen and extra ordinary volume in the particular scrip is immediately investigated by calling up the branch and asking for details of clients and as per the details made available, the client’s previous purchase or sales transactions are looked into.
Further any big value transactions are checked for whether the client is not trading beyond ones known Income (i.e. Income declared in KYC)
Policy on Pre-Funded Instruments and Electronic Fund Transfer
If the aggregate value of pre-funded instruments is Rs. 50,000/- or more from client per day per client, we may accept the instruments only if the same are accompanied by the name of the bank account holder and number of the bank account debited for the purpose, duly certified by the issuing bank. And the mode of certification may include the following either:
• Certificate from the issuing bank on its letterhead or on a plain paper with the seal of the issuing bank.
• Certified copy of the requisition slip (portion which is retained by the bank) to issue the instrument.
• Certified copy of the passbook/bank statement for the account debited to issue the instrument.
• Authentication of the bank account-number debited and name of the account holder by the issuing bank on the reverse of the instrument. We also maintain an audit trail of the funds received through electronic fund transfers to ensure that the funds are received from their clients only.
Refund & cancellation policy
The Refund & Cancellation policy for all payments made towards account opening using the payment gateway shall stand as under:
• The Fees paid towards account opening charges for enabling equity and FNO are non-refundable.
Pick up of required documents related to the account opening procedure is subject to availability of our representatives, given at any particular time and location.
• In case your account has not been opened by Team NCO, a>er the tenth day passing by from the day of collection of all necessary supporting documents and receipt of all due authorizations from you, you may request for a full refund of the charges as paid by you towards account opening.
• In case you have paid the charges relating to account opening multiple times, please send mail to support and we will initiate the necessary procedure to refund your money.
Note: The completion of the refund procedure is subject to agencies such as banks, payment gateways.
Investor grievances
The Compliance Officer shall be the designated officer for handling the Investors Grievances and Client Complaints. The email ID you can write to in case you have any grievance is complaints@ncosecurities.com.
The resolution of the Complaint shall be done at the earliest and the same shall be recorded in the register along with the date of resolution.
Procedure to file a complaint on SEBI SCORES: Register on SCORES portal. Mandatory details for filing complaints on SCORES: Name, PAN, Address, Mobile Number, E-mail ID. Benefits: Effective Communication, Speedy redressal of the grievances
NCO Securities and Share Broking Pvt Ltd
NSE & BSE – SEBI Registration No: INZ000260334
CDSL: Depository services – SEBI Registration
No: IN-DP-67-2015 Mutual Fund ARN: 132812
No 350,1st Floor, 36th A Cross 7th Main Rd 5th Block Jayanagar, Bengaluru, KA 560041.
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Invest in Stocks, Futures, Options, Mutual Funds, IPOs, Bonds,
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NCO Securities and Share Broking Pvt Ltd
No 350,1st Floor, 36th A Cross 7th Main Rd 5th Block Jayanagar, Bengaluru, KA 560041.
NSE & BSE – SEBI Registration No: INZ000260334
CDSL: Depository services – SEBI Registration No.: IN-DP-67-2015 Mutual Fund ARN: 132812
For any complaints pertaining to securities broking please write to complaints@ncosecurities.com, for DP related to ncodp@ncosecurities.com. Please ensure you carefully read the Risk Disclosure Document as prescribed by SEBI.
Attention Investors:
Investments in securities market are subject to market risks; read all the related documents carefully before investing.
Prevent Unauthorized Transactions in your trading/demat account Update your Mobile Number/Email IDs with your Stock brokers/Depository Participant. Receive alerts/information of your transactions on your Registered Mobile/Email for all debit and other important transactions in your trading/demat account directly from Exchange/CDSL on the same day.
KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
No need to issue cheques by investors while subscribing to IPO.Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worry for refund as the money remains in investor's account.
Procedure to file a complaint on SCORES (Easy & quick). Register on SCORES portal and have the mandatory details for filing complaints on SCORES (Name, PAN, Address, Mobile Number and E-mail ID). Benefits: Effective Communication and Speedy redressal of the grievances.
Dear Investor, if you are subscribing to an IPO, there is no need to issue a cheque. Please write the Bank account number and sign the IPO application form to authorize your bank to make payment in case of allotment. In case of non-allotment, the funds will remain in your bank account. As a business we don't give stock tips, and have not authorized anyone to trade on behalf of others.
Stock Brokers can accept securities as margin from clients only by way of pledge in the depository system w.e.f. September 01, 2020. Update your email id and mobile number with your stock broker / depository participant and receive OTP directly from depository on your email id and/or mobile number to create pledge Check your securities/MF/bonds in the consolidated account statement issued by NSDL/CDSL every month.
The Stock Exchange, Mumbai is not in any manner answerable, responsible or liable to any person or persons for any acts of omission or commission, errors, mistakes and/or violation, actual or perceived, by us or our partners, agents, associates etc., of any of the Rules, Regulations, Bye-laws of the Stock Exchange, Mumbai, SEBI Act or any other laws in force from time to time. The Stock Exchange, Mumbai is not answerable, responsible or liable for any information on this Website or for any services rendered by our employees, our servants, and us. Please refer to BSE compliance for more details.
Investors are requested to note that Stock broker NCO Securities and Share Broking Pvt Ltd (Firstock) permitted to receive/pay money from/to investor through designated banks accounts only named as client bank accounts. Stock broker NCO Securities and Share Broking Pvt Ltd (Firstock) is also required to disclose these client bank accounts to Stock Exchange. Hence, you are requested to use following client bank accounts only for the purpose of dealings in your trading account with us. The details of these client bank accounts are also displayed by Stock Exchanges on their website under “Know/ Locate your Stock Broker"
Investor Charter*