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COMMODITY DERIVATIVES

Non Agri products

Diamond

Steel

Agri products

Spices

Oil & Seeds

Plantation

Fiber

Cereals

Others

 

MUTUAL FUNDS

Information

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Investor Charter

Mission

  • To provide transparent, equitable and reliable markets with timely and accurate information dissemination for investors.

  • To provide the highest standards of investor education, investor awareness and investor protection and timely services.

Vision

  • To provide a safe, equitable, transparent and trusted platform for investors to participate across asset classes with highest standards of integrity for investors.

Business transacted by the Exchange with respect to investors

The exchange facilitates various products for investors to participate across asset classes viz Commodity Futures. Details available on www.icexindia.com under -> Menu -> Product

Services provided by the Exchange to investors

Exchange provides various services to investors electronically through its online platform and physically through the dedicated investor service centres set for this purpose. Click here

Grievance redressal mechanism

  • Mode of filing the complaints: Complaints can be lodged on the Exchange in the following ways:
    1. Electronic mode
      1. Through SCORES (a web based centralized grievance redressal system of SEBI)
      2. Through Respective Exchange’s dedicated Email ID
    2. Offline mode – Physical
  • Regarding documents required for complaint resolution and Multi-level dispute resolution mechanism available at the Exchange.
    1. Documents required for complaint resolution
      1. Complete Account Opening Kit
      2. Contract notes
      3. Ledger statement
      4. Bank statement
      5. Demat transaction statement
      6. Any other document in support of claim
    2. Multi-level dispute resolution mechanism available at the Exchange:
      1. Amicable resolution at Exchange level
      2. If no amicable resolution arrived at, matter is referred to Investor Grievance Redressal Committee who are independent entities set up for the compliant resolution.
      3. Arbitration proceedings
      4. Appellate Arbitration proceedings.

Timelines for Complaint Resolution Process at Exchanges

Sl. No.TYPE OF ACTIVITYEXPECTED TIMELINES FOR ACTIVITY
AGAINST STOCK BROKERS
1 Receipt of Complaint Day of complaint (C Day)
2 Additional information sought from the investor, if any, and provisionally forwarded to stock broker C + 7 Working days
3 Registration of the Complaint and forwarding to the stock broker C+8 Working Days i.e. T day
4 Amicable Resolution T+15 Working Days
5 Refer to Grievance Redressal Committee (GRC), in case of no amicable resolution T+16 Working Days
6 Complete resolution process post GRC T + 30 Working Days
7 In case where the GRC Member requires additional information, complete resolution shall take place within T + 45 Working Days
8 Implementation of GRC Order On receipt of GRC Order, debit the funds of the stock broker
9 Complainant/ Broker, if not satisfied, by IGRC decision can avail arbitration mechanism Within 6 months from the date of IGRC recommendation
10 In case of receipt of arbitration intention Obtain an undertaking from the client and pay 50% of the award or 2 lakhs whichever is less to the client from the IPFT, in case GRC order is upto Rs. 20 lacs
11 Arbitration not filed within 6 months from the GRC Order Obtain Undertaking from the client and
Release 50% amount to the client.
Replenish 50% amount to the IPF
12 Completion of arbitration proceedings Within 4 months from the date of the final appointment of arbitrator
13 Completion of appellate proceedings Within 3 months from the date of the final appointment of arbitrator

Rights and Obligations of investors

Rights of Investor

Guidance pertaining to special circumstances related to market activities: Default of Brokers

  • When a Broker defaults, the Exchange carries out the following steps for benefit of investor:
    1. Dissemination on Exchange website informing with regards to the default of the Broker
    2. Issue of Public Notice informing declaration of default by a Broker and inviting claims within specified period
    3. Intimation to clients of defaulter stock brokers via Emails and SMS for facilitating lodging of claims within specified period
  • Following information made available on Exchange Website for information of Investors
    1. Norms for eligibility of claims for compensation from IPF.
    2. FAQ on processing of investors’ claims against Defaulter Broker
    3. Form for lodging claim against defaulter Broker
    4. Standard Operating Procedure (SOP) for handling of Claims of Investors in the Cases of Default by Brokers.

    …..Read More Click Here

  • Standard Operating Procedure (SOP) for Handling of Claims of Investors in the Cases of Default by Stock Brokers/Members.
    SR. NO.ACTIONTIMELINE
    1 Disablement of the Stock Broker T day
    2 Pre-filled forms to be sent to clients providing information regarding balances with the stock broker T+30 days
    3 Claim lodgement Clients to fill the claim form and provide the supporting documents Within 30 days of receipt of pre-filled form However, client can lodge claims till the end of 3 years from the date of the public notice provided
    4 Processing of claims and auditing of claims Within 60 days of receipt of the claim form from the clients.
    5 Declaration of stock broker as defaulter Within 90 days from date of disablement (on account of triggering of SOP) (T+90 days)
    6 Public Notice regarding declaration of defaulter Within 3 working days from the date of declaration of defaulter
    7 Approval of the claim (by IPF Trust on the basis of recommendation of MCSGFC and Intimation to the clients regarding admissibility of the claim and disbursal of the eligible amount Within 15 days of declaration of default

Dos and Don’ts - Advisory for Investors :