Haha …thanks Akash
Everyone should write a separate grievance and make them liable to answer
Whole mass of retailer traders along with brokers should file this complaint in a systematic manner showing that all these rules is hurting everyone. Brokers support is very much needed because they are the persons who get a chance to interact directly with exchange officials.
Right …please post on quora, twitter, telegram, facebook, instagram or any other media sources you find
How about making a mass complaint signed by all retail traders in Zerodha. Like someone writes an official grievance listing all the points and how they are detrimental to a healthy capital market system, how these rules are really affecting the retailers while doing no good on the other hand. And then everyone signs it and then this whole grievance should be filed at that SEBI website.
Good idea to write a mass grievance too on sebi website
SEBI k against SEBI ko complaint kaise karoge???
Its like aapke ghar par aakar aapko kehna u r bad…
Need to do somethin else…
You are right …that’s what I’ve been thinking … broker has already calculated and collected span + exposure margin from the trading member to cover his risk …on top of that if margin money becomes less due to a wrong trade decision immediately broker team starts calling member to deposit more margin otherwise the position is squared off by broker …so with so many safeguards already by broker why is sebi acting like a helicopter parent now
Right …but it’s a procedure to inform the agency first of all about any grievance and give it opportunity to deal with it … only after it refuses to give satisfactory solution it is practical to approach higher authorities
Moreover if I don’t feel comfortable sharing my income and net worth details with a private broker then how can sebi force this on me?
I am already sharing my income details with government and IT department where it’s my duty and I feel my details will remain secure …so why is sebi insisting all small traders to share their income details with private agencies and brokers while no such rule is there for big players to share their details
If sebi succeeds in this outlandish move . Dabba trading will be growing in a friction of time retail people won’t have any other way
Difficult to believe these people came up with such a crazy idea. Maybe most of these people are just sleeping members. Only that ex-law secy who might not have ever traded in his life came up with such an idea.
Dr.C.K.Narayan says on twitter …
Seriously! I cannot think of something more asinine! What are those people smoking?
Too many cooks
Is it possible to get their email address so grievances can be sent to them directly?
Exactly !! …they must find out why liquidity in cash markets have gone down first of all and address that issue by removing the reason … it could be STT and high taxes …you’re right …that’s why people moved on to more lucrative derivatives …now comparing Indian markets to a foreign market is not practical …instead they should focus on giving knowledge to general public on the best practices while trading in derivatives and how to avoid common mistakes by keeping adequate safeguards…that’s a more mature way to deal with retailer safety
Few people from my group have already flooded sebi email with grievances related to this rule.
Anyone else who’s interested in doing so can write on [email protected]
Let’s put up a post in tradingqna regarding this grievance with a formal letter listing all the points and then have people sign it using their name/email and then send that to Sebi.
Because we need everyone’s support. And all may not know exactly what to write and emphasize on. But they may very well be eager to support this so their names will be signed below along with all the others.
also pls cc : [email protected] … Mr Ajay Tyagi…
Not sure if there is any relevant mail id of finance ministry.
Great, lets fight back then at least we will have hope of winning.