compliance guide - MCX

Compliance Guide‣ Register of loans‣ Register of Investment.‣ Register of Charges.‣ Register of Director’s Shareholding‣ Minutes of Board / Committee meetings, etc.2 Records in Soft Forms/ SystemsWith computerization of Members' back office operations, some of these accounts and recordsmay be maintained by the Members in their Systems. Hence, the members are required toensure the reliability of such system and provide the access of such systems to theExchange/FMC officials and/ or inspection team appointed by them if so demanded. Further themember should ensure to take and maintain the back up of the records from time to time andalso the backoffice software should be protected against any unauthorized access or threat byinstalling anti-virus software.2.1 Register of TransactionsAll Members are required to maintain a register of transaction, which contains details of alltrades transacted by them. This is a basic record, which each Member is required to maintainregularly on day-to-day basis. It contains the details regarding the name of commodity, name ofthe client on whose behalf the deals have been done, rate and quantity of commodity bought orsold. These details are maintained date-wise and include transactions related to both –‣ Member’s own business on the Exchange‣ Member’s business on the Exchange on behalf of clientsThe member should ensure that all the transactions are recorded in the said register.2.2 Client LedgerAs per Circular No. MCX/357/2006 dated September 02, 2006, every Member of the Exchange isrequired to segregate and maintain Exchange-wise client ledger.This ledger contains the details of the bills raised by the Member on the clients and the paymentreceived from or made to them for trade executed and /or any other charges debited byMember to clients. The Member must ensure that there has been no delay in making paymentof funds / delivering commodities to the clients.If the Member happens to have membership of more than one Exchange in the commodityderivatives market then the Member must ensure that receipts and payments from one accountand debits from another, solely for the purpose of convenience should not be done.- 16 -