Clauses for Cash Segment Whereas the MEMBER is registered as TRADING MEMBER OF National Stock Exchange of India Ltd. on the Cash Market segment with SEBI Registration No. INB 230647033. Where as the CONSTITUENT is desirous of investigating/trading in those securities admitted for dealing on the Exchange as defined in the Bye-Laws of the Exchange. Whereas the CONSTITUENT has satisfied itself of the MEMBER to deal in securities and wishes to execute his orders through him and CONSTITUENT shall continue to satisfy itself of such capability of the MEMBER before executing orders through him. Whereas the MEMBER has satisfied and shall continuously satisfy himself about the genuineness and financial soundness of the CONSTITUENT and investment objectives relevant to the service to be provided. Whereas the MEMBER has taken steps and shall take to make the CONSTITUENT aware of the precise nature of the Member’s liability for business to be conducted, including any limitations on that liability and the capacity in which it acts. In considerations of the mutual understanding as set forth in this agreement, the parties there to have agreed to the following terms and conditions. 1. These provisions of this agreement shall always be subject to Government notifications, any rules, regulations and guidelines issued by SEBI and Stock Exchange’s rules, regulations and bye-laws that may be in force from time to time. 2. The instruction issued by an authorized representative to deal on behalf of CONSTITUENT. 3. The Stock Exchange may cancel a trade suo-moto without giving any reason thereof. In the event of such cancellation, MEMBER shall be entitled to cancel relative contract(s) with CONSTITUENT.  Clauses for Digitally Signed Contract Notes Whereas the CONSTITUENT has permitted the member to provide the digitally signed contract notes/ statement of A/c, etc. through internet. Now therefore in consideration of the member having agreed to provide the contract notes/ statement of A/c, etc. through internet, both the parties to the agreement hereby covenant and agree as follows: 1. The CONSTITUENT shall access the contract notes/trade confirmation of the trades executed on their behalf on the trade date electronically through https://www.monarchproject.com/ or such other means/mode as may be provided by the member from time to time. The CONSTITUENT understands and other communications including but not limited to margin and maintenance calls. All information constrained therein shall be binding on the CONSTITUENT, if CONSTITUENT does not object, either in writing or via electronic mail within 24 hours after any such document are available to the CONSTITUENT. 2. Should the CONSTITUENT experience any difficulty opening an account electronically delivered by the member, the member make the required delivery by any other electronic means (email, electronic mail attachment, or in the form of an available download from the back office website) or in paper based format. Failure to advice of such difficulty within forty eight hours after delivery shall serve as an affirmation that CONSTITUENT was able to receive and open the said document. 3. The CONSTITUENT agrees not to receive the contract notes in paper form from the Member. Provided however that incase when the Member is not able to provide Contract Notes to its CONSTITUENT through internet due to any unforeseen problems. The Members should ensure that the contract not reaches to the CONSTITUENT in physical form as per the time schedule stipulated in Bye-Laws Rules and Regulation of NSE. 4. The CONSTITUENT shall take all the necessary steps to ensure confidentiality and secrecy of the login name and password. Unless the CONSTITUENT lodges a complaint with the Member as to his inability to access the system. It would be presumed that contract notes and all other documents have been properly delivered. 5. The CONSTITUENT agrees that the MEMBER fulfills its legal obligation to deliver to Constituent’s any such document if sent via electronic delivery. 6. The above terms and conditions are in addition to and not in contravention of the terms and condition forming a part of the “Member CONSTITUENT agreement” (cash, delivery or both) signed by the CONSTITUENT. In WITNESS THEREOF the parties to agreement have caused these presents to be executed as the day and year first above written.  Risk Disclosure Document This document should be read by each and every constituent before entering into derivatives trading and should read in conjunction with clause 4.3.3 of the NSE (futures & options) trading regulations of the National Stock Exchange of India Limited (NSEL) NSEL has not passed the merits of participating in this trading segment not has NSEL passed the adequacy or accuracy of this disclosure document. The brief statement does not disclose all the risks and other significant aspects of trading. In light of the risk you should undertake such transactions only if you understand the nature of the contract (and contractual relationships) into which you are entering and the extent of your exposure to risk. Risk or loss in trading, in derivatives can be substantial. You should carefully consider whether trading is appropriate for you in light of your experience, objectives, financial and emotional temperament. In case of any consequences or loss in the future & option segment, the constituent shall be responsible for such loss and the exchange or SEBI shall not be responsible for the same and it will not be open for any client to take the plea that no adequate disclosure was made or he was not explained the full risk involved by the member. The client will be solely responsible for the consequences and no contract can be rescinded on that account.  Risk involved in trading in derivatives contracts WEffect of “leverage “or “gearing” The amount of margin is small relative to the value of the derivatives contract so the transactions are “leveraged “or “geared”. Derivatives trading which is conducted with a relatively small amount of margin provides the possibility of great profit or loss in comparison with the principal investment amount. But transaction in derivatives carries a high degree of risk. You should therefore completely understand the following statements before actually trading in derivatives trading and also trade with caution while taking into account one’s circumstances, financial resources, etc. if the prices moves against you, you may lose a part of or whole margin equivalent to the principal investment amount in a relatively short period of time. Moreover, the loss may exceed the original margin amount. 1. Futures trading involve daily settlement of all positions. Everyday the open positions are marked to market based on the closing level of the index. If the index has moved against you, you will be required to deposit the amount of loss (national) resulting from such movement. This margin will have to be paid within a stipulated time frame, generally before commencement of trading next day. 2. If you fail to deposit the additional margin by the deadline or if an outstanding debt occurs in your account, the broker/member may liquidate a part of or the whole position or substitute securities. In this case, you will be liable for any losses incurred due to such closeouts. 3. Under certain market conditions, an investor may find it difficult or impossible to execute transactions. For example, this situation can occur due to factors such as liquidity i.e. where there are insufficient bids or offers or suspension of trading due to price limit or circuit breakers, etc. 4. In order to maintain market stability the following steps may be adopted: changes in the margin rate, increase in the cash margin rate or others. These new measures may be applied to the existing open interests. In such conditions, you will be required to put up additional margins or reduce your positions. 5. You must ask your broker to provide the full details or the derivatives contracts you plan to trade i.e. the contract specification and the associated obligations.  Risk - reducing orders or strategies The placing of certain orders (e.g. “stop - loss” orders, or “stop-limit” orders) which are intended to limit losses to execute such orders. Strategies using combinations of positions, such as “spread” positions, may be as risky as taking simple “long” or “short” positions. Suspensions or restriction of trading and pricing relationships Market conditions (e.g. illiquidity) and/or operation of the rules of the certain markets (e.g. the suspension of trading in any contract or contract month because of price limits or “circuit breakers”) may increase the risk of loss due to inability to liquidate/offset positions.  Deposited cash and property You should familiarize yourself with the protections accorded to the money or other property you deposit particularly in the event of a firm insolvency or bankruptcy. The extent to which you may recover your money or property may be governed by specific legislation or local rules. In some jurisdiction, property which has been specifically identifiable as your own will be pro-rated in the same manner as cash for purposes of distribution in the event of a shortfall. In case of any dispute with the member, the same shall be subject to arbitration as per the byelaws/regulation of the exchange.  Risk of option holders 1. An option holder runs the risk of losing the entire amount paid for the option in a relatively short period of time. This risk reflects the nature of an option as a wasting asset which becomes worthless when it expires. An option holder who neither sells his option in the secondary market nor exercise it prior to its expiration will necessarily lose his entire investment in the option. If the price of the underlying does not change in the anticipated direction before the option expires to an extent sufficient to cover the cost of the option, the investor may lose all or a significant part of his investment in the option. 2. The exchange may impose exercise restrictions and have authority to restrict the exercise of options at certain times in specified circumstances.  Risk of option writers. 1. If the price movement of the underlying is not in the anticipated direction the option writer runs the risk of losing substantial amount. 2. The risk of being an option writer may be reduced by the purchase of other options on the same underlying interest and thereby assuming a spread position or by acquiring other types of hedging positions in the options market or other markets. However, even where the writer has assumed a spread or other hedging position the risk may be significant. A spread position is not necessarily less risky than a simple “long” or “short” position. 3. Transactions that involve buying and writing multiple options in combination with buying or selling short the underlying interests, present additional risks to investors. Combination transactions, such as option spreads, are more complex that buying or writing a single option. And it should be further noted that, as in any area of investing, a complexity not well understood is, in itself a risk factor. While this is not to suggest that combination strategies should not be considered, it is advisable, as is the case with all investments in options, to consult with someone who is experienced and knowledgeable with respect to the risk and potential rewards of combination transactions under various market circumstances.  Commission and other charges Before you begin to trade, you should obtain a clear explanation of all commission, fess and other charges for which you will be liable. These charges will effect your net profit (if any) or increase your loss.  Trading facilities The exchange offers electronic trading facilities which are computer based systems for order-routing, execution, matching, registration or clearing trades. As with all facilities and systems, they are vulnerable to temporary disruption or failure. Your ability to recover certain losses to temporary disruption or failure. Your ability to recover certain losses may be subject to limits on liability imposed by the system provider, the market, the clearing house and/or member firms. Such limits may vary, you should ask the firm with which you deal for details in this respect. This document does not disclose all of the risks and other significant aspects involved in trading on a derivatives market. The constituent should therefore study derivatives trading carefully before becoming involved in it.