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Fast Track System

 

          Fast Track System allows members to provide the following facilities to their clients:

 If the members wish they can request CSBL to

  •    Give a terminal id to their client

  •    Credit their client�s shares directly in their account.

  •    Credit the client�s pay out directly in their account.

  •    Subject to a tripartite agreement the client will be treated as equivalent to a member (for practical purposes only)

  •    Member will be responsible for entire dealings

ADVANTAGES TO THE FTS CLIENTS

  •    Quick pay out/delivery out / margin release

  •    Statements will be downloaded/e-mailed to them directly

  •    Transparency in dealings

  •    Exclusive terminals

ADVANTAGES TO SUB-BROKERS

  •    Less paper work and botheration

  •    Can concentrate in marketing

REGISTRATION

  •    Sub brokers have to register such clients

  •    All conditions to be agreed thru tripartite agreement

FACILITIES EXTENDED

  •    CSBL accepts margin/pay in/ delivery in directly from FTS clients

  •    CSBL issues margin cheques/pay out/delivery out directly to FTS clients

            

RULES FOR TRADING:

  

  • The sub-brokers desirous of availing this facility shall register their client with the Fast Track System of Cochin Stock Brokers Limited.

  • A tripartite agreement has to be executed between the Sub-broker, Fast Track System client and Cochin Stock Brokers Limited.

  • The Sub-broker shall arrange to have an insurance policy taken to cover any loss or damages sustained by Fast Track System Client, Cochin Stock Brokers Limited and the sub-broker.

  • Cochin Stock Brokers Limited shall be at liberty to amend and alter or modify the terms and conditions and also to withdraw the scheme of Fast Track System with prior notice to the sub-broker.

  • Brokerage to be charged  from the sub-brokers for the transactions done by the clients trading through the Fast Track System will be as follows:

          A) Transactions ending in delivery = 0.037%(subject to a minimum of one paisa per transaction)

  ( Normal Brokerage =0.017%, Additional FTS Service charge =0.003%,

              Additional Brokerage for Delivery = 0.017%(0.037-0.02))  

          B) Transactions  ending in squaring = 0.02%(subject to a minimum of one paisa per transaction)

        ( Normal Brokerage =0.017% , Additional  FTS service charge = 0.003%)      

  • Sub-brokers must issue purchase/sale note to Fast Track System Clients (as per SEBI-Stock Brokers Regulations �code of conduct of Sub-Brokers �Regulation15(B)(2)(a) and (b)

  • Sub-broker shall intimate the company the rate of brokerage he is charging the fast track system client.

  • One Fast Track Client Cannot become Fast Track Client of another Sub-broker

  • The CSBL will have liberty to cancel the registration of the Fast Track System Client , if he defaults in margin/settlement pay-in.

  • All rules and regulations applicable to the sub-brokers will be applicable to the Fast Track System Clients.

Cochin Stock Exchange, Kochi, India