Running Account

#2
I guess you got some letter from your broker that as per SEBI directive we have to fill a running account authorisation form?
It means that you are willing to continue to trade/invest for the coming year. You just have to fill the form and submit it. There is no fee for it.
 
#4
When i filled, i asked the helpdesk and they told me to select Calendar Quarter settlement.

Here is what i got from SEBI website :

The actual settlement of funds and securities shall be done by the broker, at least once a calendar quarter or month, depending on the preference of the client. While settling the account, the broker shall send to the client a 'statement of accounts' containing an extract from the client ledger for funds and an extract from the register of securities displaying all receipts/deliveries of funds/securities. The statement shall also explain the retention of funds/securities and the details of the pledge, if any.
 

alroyraj

Well-Known Member
#5
In the absence of a running account authorisation you would have to run to the broker office to settle the funds and securities by the pay-in date. It is a nuisance unless of course you are not so confident of the broker's functioning i do not know why people would not want to fill it.
Another plausible reason for withholding it is suppose you open a trading account at another broker maybe not on a permanent basis.

This helps if you are a regular customer.
Depending on your trading horizon or method of managing settling brokerage and profits and losses etc,you can choose among the two. But better to opt for the monthly one to start with.