Description

BSE imposes financial disincentive of ₹1,000 per instance on trading members who failed to upload TWS/ETI/BOLTPLUS terminal location details for April 2026. Charges will be debited to General Charges Account after 60 days from notice date.

Summary

BSE has issued a financial disincentive notice for trading members who failed to upload TWS/ETI/BOLTPLUS terminal location information for the month of April 2026. A penalty of ₹1,000 per instance is levied on orders placed from unregistered or incorrectly registered terminal locations. The disincentive file (LCS0426.xxxx) has been made available in the Equity Transaction Folder on Extranet, and the charges will be debited to members’ General Charges Accounts after 60 days from the date of this notice (11 May 2026).

Key Points

  • Financial disincentive of ₹1,000 per instance for orders punched from unregistered or incorrectly registered TWS/ETI/BOLTPLUS terminal locations
  • Disincentive file for April 2026 is available as LCS0426.xxxx in the Equity Transaction Folder on Extranet
  • Charges will be debited to the General Charges Account after 60 days from 11 May 2026 (i.e., around 10 July 2026)
  • Waiver or review requests must be submitted to Waiver-Review@bseindia.com
  • Subject line for waiver emails: “Waiver / review of Financial Disincentive_<TM Name>_<Clg No.>_LOCATION MISMATCH-APR-2026”
  • Enforcement contact numbers: 022-69158540, 022-45720640, 022-45720440
  • Enforcement email: Enforcement@bseindia.com

Regulatory Changes

No new regulatory changes introduced. This notice enforces existing obligations under Exchange Notices:

  • 20070531-8 (May 31, 2007)
  • 20070828-28 (August 28, 2007)
  • 20131204-9 (December 4, 2013)
  • 20131213-26 (December 13, 2013)
  • 20180925-4 (September 25, 2018)
  • 20250924-54 (September 24, 2025)
  • 20251223-22 (December 23, 2025)
  • 20251010-20 (October 10, 2025) — penalty schedule
  • 20260417-45 (April 17, 2026) — penalty schedule update

Compliance Requirements

  • Trading members must register all TWS/ETI/BOLTPLUS terminals with the Exchange before placing orders from those locations
  • Members who received a financial disincentive for April 2026 must pay the penalty or apply for a waiver within 60 days (by approximately 10 July 2026)
  • Waiver applications must be submitted via email to Waiver-Review@bseindia.com with required details including TM name, clearing number, and subject line specifying “LOCATION MISMATCH-APR-2026”
  • Processing fees and detailed waiver criteria are outlined in Exchange Notice No. 20251008-67 dated October 08, 2025

Important Dates

  • 11 May 2026: Date of notice; financial disincentive file (LCS0426.xxxx) available on Extranet
  • ~10 July 2026: Charges debited to General Charges Account (60 days from notice date)
  • Waiver requests should be submitted before the debit date to avoid automatic charge

Impact Assessment

This notice directly impacts trading members (brokers) who operated terminals without proper location registration during April 2026. The penalty of ₹1,000 per instance could accumulate significantly for members with multiple unregistered terminals or high order volumes from such locations. The broader market impact is minimal as this is an administrative enforcement action. Members are strongly advised to ensure all terminal locations are registered proactively to avoid recurring penalties in subsequent months.

Impact Justification

Routine monthly enforcement notice targeting non-compliant trading members who failed to register terminal locations; financial penalty of ₹1,000 per instance is moderate but affects only members with unregistered/incorrectly registered terminals.