SEBI has asked Qualified Stock Brokers (QSBs) to provide their clients with blocked amount trading in the cash segment using the UPI block mechanism or 3-in-1 trading account from February 1, in addition to the current trading mode.
The customers of the QSBs will have the option to either continue with the existing trading facility by transferring funds to the brokers or opt for one of the facilities.
The 3-in-1 trading account facility will have the following features. The integration of the trading account with customer demat and bank accounts; blocking funds when placing purchase orders; blocking securities in the customer’s demat account at the time of placing sell orders and disbursement (transfer of money or securities) blocked at the time of placing orders upstream to the clearing house. The customer receives interest on the available money until payment.
