The execution of this document by the client is voluntary.

However in case the client

wish to avail of the online trading services with the linkage of Broking, Bank and
Demat account, then execution of this document by the client is required in order to
facilitate seamless and hassle free trading and settlement of transactions

Application for Allotment of NRI Client Code in Derivative Segment (This document is
applicable only for trading in Derivative Segment)

Date: _____________________

To,
Axis Securities Limited
Unit No. 2, Phoenix Market City
15, LBS Marg, Near Kamani Junction
Kurla (West), Mumbai – 400070

NSE Clearing Member Regn. No: INF 231481632

Sub.: Application for the allotment of NRI code.

I wish to appoint you as my Clearing Member for clearing and settlement of trades done on the
futures and options segment of NSE. My details are as follows:

Name (as appear in Passport) :

Passport no :

NRE/NRO Bank A/c No :

Telephone NO :

Email ID :

Current Address :

Permanent Address in India :

We request you to kindly get an NRI client code allotted by NSE/NSCCL for the same.

I undertake that all the trades executed through the above allotted NRI Client code will be on my
behalf.
Signature of Applicant: _____________________________
The execution of this document by the client is voluntary. However in case the client
wish to avail of the online trading services with the linkage of Broking, Bank and
Demat account, then execution of this document by the client is required in order to
facilitate seamless and hassle free trading and settlement of transactions

Clearing Member – Constituent (Custodial Participant) Agreement

1) This agreement is made on this ___________________ day of ______,

between Axis Securities Limited a company registered under the Companies
Act,1956 having its registered office at Axis House, 8th Floor, Wadia
International Centre, Pandurang Budhkar Marg, Worli, Mumbai-400025
registered as a Clearing Member (hereinafter called the Clearing Member) with
National Securities Clearing Corporation Ltd. (hereinafter called “NSCCL”)
which expression shall unless repugnant to the context or meaning thereof
include its successors, legal representatives and permitted assigns) and
Mr./Ms._________________________________________________________
,an individual having residence at
_______________________________________________________________
_______________________________________________________________
_______________________________________________________________
(hereinafter called “the Constituent ”) which expression shall unless repugnant
to the context or meaning thereof include its successors, legal representatives
and permitted assigns).
WHEREAS
1. The constituent is Non Resident Indian and desires to effect purchase or sale
of securities in the Futures and Options segment of the National Stock
Exchange of India Ltd. (here in after called “NSEIL”) through more than one
trading members of NSEIL and clear and settle such trades through Clearing
member [who, in turn, agreed to clear and settle the trades executed by the
constituent through a trading member or trading members], subject to the
provisions contained in the Rules, Bye Laws and Regulations of NSCCL
(Futures & Options Segment).
2. Axis Securities Limited is a Clearing Member of NSCCL and is, inter alia,
authorised to carry on the activities of clearing and settlement of deals, which
are executed on the Futures & Options Segment of NSEIL by the trading
member [who has appointed the Clearing Member to clear and settle his
deals] or on behalf of Constituents [who have appointed the Clearing
Member to clear and settle their deals]
 3. The Constituent has approached the Clearing Member to undertake clearing &
settlement of deals and to discharge his duties and obligations towards
NSCCL on his behalf and the Clearing Member, in turn, agreed to clear &
settle the trades done by the constituent through a trading member or trading
members subject to the provisions contained in the Rules, Bye Laws and
Regulations of NSCCL (Futures & Options Segment) and the terms and
conditions contained herein.
4. The parties to this agreement are desirous of reducing the terms and conditions
agreed, in writing, as contained herein:
NOW, THEREFORE, THIS AGREEMENT WITNESSETH AS FOLLOWS:
1. At the request of the Constituent and in consideration of the Constituent agreeing
to pay certain fees and charges mentioned herein and abide by the terms and
conditions contained in this agreement, Rules, Bye-Laws and Regulations of
NSCCL and NSEIL, the Clearing Member hereby undertakes upon himself the
obligations of clearing and settlement of the deals of the Constituent executed/
done, through one or more trading members, on the Futures & Options Segment
of NSEIL and to do all the acts, deeds and activities arising from and/ or
incidental to the clearing and settlement of such deals.
2. Rights of the Clearing Member
(1) The Clearing Member shall be entitled to demand/ receive from the
Constituent such deposits in such form as he may specify from time to time.
(2) Without prejudice to the generality of the above, the Constituent shall place
with the Clearing Member an amount of Rs .___________ as deposit which
shall be maintained at any point of time. Subject to the provisions of Bye
Laws, Rules and Regulations of NSCCL/NSEIL, in case of any shortfall in
such deposit, the Clearing Member shall be entitled to initiate any action
necessary to protect his interests in this regard against the Constituent.
(3) The Clearing Member shall be entitled to receive such fees, charges, or
commission, in respect of various services which he renders or agrees to
render to the Constituent, from the Constituent at such intervals as may be
mutually agreed upon.
(4) The Clearing Member shall specify, subject to the requirements prescribed
by NSCCL from time to time, the exposure limits upto which open positions
can be taken by the Constituent. Such limits may be increased or reduced by
the Clearing Member from time to time. The Clearing Member shall have
the authority to initiate any action necessary to protect his interests in this
regard, which may, inter alia, include restriction on further trading and
closeout of open positions of the Constituent.
(5) The Clearing Member shall be entitled to collect from the Constituent,
margin(s) of such amounts of such kinds, as he may deem necessary, which
 at any point of time shall not be less than the amount stipulated by NSCCL
from time to time. The Clearing Member shall have authority to collect such
additional margin(s) as the Clearing Member may deem necessary or as per
the requirement of NSCCL.
(6) The Clearing Member shall be entitled to receive from the Constituent such
amounts as may be required to be paid towards daily mark to market
settlement of futures contracts, final settlement of futures contracts,
premium settlement of option contracts, exercise settlement of option
contracts or such other settlement, as per the requirement of NSCCL.
(7) The Clearing Member shall have authority to close out/ liquidate the open
positions of the Constituent in accordance with the Rules/ Byelaws and
Regulations of NSCCL, in the case of non-payment of dues by the
Constituent towards margins, additional margins, daily mark to market
settlement of futures contracts, final settlement of futures contract, premium
settlement of option contracts, exercise settlement of option contracts or
such other settlement, fees, , commission and/ or charges, by making
necessary requests to NSEIL/ NSCCL for initiating such action. In such
case, any loss arising due to the closing out of open positions shall be
payable by the constituent and will be recovered from the Constituent by the
clearing member.
(8) The Clearing Member shall have the right to inspect the books of accounts,
records, documents and computerised data of the Constituent for which the
Clearing Member shall have free access to the premises occupied by the
Constituent or by any other person on his behalf.
3. Obligations of the Clearing Member

(1) The money deposited by each Constituent shall be kept in a separate account
by the Clearing Member, distinct from his own account and shall provide
the details of margins collected for the trades executed by the constituent, to
NSCCL as per the requirements of NSCCL. .
(2) The Clearing Member shall inform the Constituent about the exposure limits
(including any increase or reduction in such limits) upto which open
positions can be taken by the Constituent.
(3) The Clearing Member shall be liable to pay to the Constituent any amount
becoming due and receivable by the constituent towards daily mark to
market settlement of futures contracts, final settlement of futures contracts,
premium settlement of option contracts, exercise settlement of option
contracts and such other settlement as per the requirements of NSCCL.
(4) The Clearing Member shall be required to refund any excess margin money
to the Constituent as per mutual agreement.
 (5) The Clearing Member may settle the accounts on a periodical basis, if
mutually agreed between the Clearing Member and the Constituent, which
should be in accordance with the Byelaws, Rules & Regulations of NSCCL.
(6) In the event of default by the Clearing Member or his being declared a
defaulter by NSEIL/ NSCCL, the amount paid by the Constituent and got
deposited with NSCCL shall remain safe and shall not be utilised to meet
the Clearing Member’s own liabilities and/ or the liabilities of his other
Constituents. In such cases, the Clearing Member shall render all assistance
to the Constituent for transfer of Constituent’s positions to some other
Clearing Member, if such event occurs.
(7) In the event of failure by the Clearing Member in the payment of any dues
to the NSCCL as well as the Constituent, the Constituent shall, with the
prior approval of NSCCL, have the right to transfer his own open positions
immediately to another Clearing Member. The Clearing Member shall be
obliged to pay to the Constituent for any costs incurred for transfer of the
open positions, if such event occurs.
(8) In case the Clearing Member is declared a defaulter by NSEIL/ NSCCL, and
the Constituent transfers his open positions to some other Clearing Member,
the Clearing Member shall be obliged to pay for any costs incurred for
transfer of the open positions.
(9) If due to the default of the Clearing Member, the open positions of the
Constituents are closed-out and any loss is incurred due to such close-out,
the Clearing Member shall reimburse such loss to all the Constituents except
to the Constituents because of whom the Clearing Member has defaulted.
(10) The Clearing Member shall treat the information pertaining to the
Constituent as confidential. The Clearing Member shall not disclose the
same to any other person except to the governmental, statutory, regulatory
or legal authorities on a request made by these authorities in writing.
(11) The Clearing Member shall be required to provide reports/ statements of
mark to market settlement of futures contracts, final settlement of futures
contracts, premium settlement of options contracts, exercise settlement of
option contracts or such other settlement, margin amounts and open
positions to the Constituent, for such period as may be mutually agreed.
4. Rights of the Constituent
(1) The Constituent shall be entitled to have all the deals, executed through any
Trading Member or Trading Members on the Futures & Options Segment of
NSEIL, cleared and settled through the Clearing Member.
(2) The Constituent shall be entitled to receive intimation from the Clearing
Member about the exposure limits (including any increase or reduction in
such limits) upto which open positions can be taken by the Constituent.
 (3) The Constituent shall be entitled to receive reports/ statements of mark to
market settlement of futures contracts, final settlement of futures contracts,
premium settlement of option contracts, exercise settlement of option
contracts or such other settlement, margin amounts and open positions from
the Clearing Member, for such period as may be mutually agreed.
(4) The Constituent shall be (liable) entitled to (pay to) receive from the
Clearing Member such amounts towards daily mark to market settlement of
futures contracts, final settlement of futures contracts, premium settlement
of option contracts, exercise settlement of option contracts and such other
settlement as per the requirement of NSCCL.
(5) In the event of the Clearing Member being declared a defaulter by NSCCL,
the Constituent, except the Constituent because of whom the Clearing
Member has defaulted, shall be entitled to transfer his open positions to
some other Clearing Member and recover any costs incurred for such
transfers from the Clearing Member.
(6) In the event of failure by the Clearing Member in the payment of any dues
to NSCCL as well as the Constituent, the Constituent shall, with the prior
approval of NSCCL have the right to transfer his own open positions
immediately to another Clearing Member. The Constituent shall also have
the right to recover from Clearing Member any costs incurred for transfer of
the open positions.
(7) In case the open positions of the Constituents are closed-out due to the
default of the Clearing Member, the Constituent, except the Constituents
because of whom the Clearing Member has defaulted, shall be entitled to
recover such loss from the Clearing Member.
5. Obligations of the Constituent
(1) The Constituent shall pay to the Clearing Member such deposits in such
form as the Clearing Member may specify from time to time.
(2) Without prejudice to the generality of the above, the Constituent shall place
with the Clearing Member an amount of Rs.___________ as deposit which
shall be maintained at any point of time. Subject to the provisions of Bye
Laws, Rules and Regulations of the NSCCL/ NSEIL, the Clearing Member
shall be entitled to initiate any action necessary to protect his interest in this
regard against the Constituent.
(3) The Constituent shall pay to the Clearing Member such fees, charges, or
commission in respect of various services which he renders or agrees to
render to the Constituent at such intervals as may be mutually agreed upon
by them.
(4) The Constituent shall pay to the Clearing Member margins of such amounts
as may be prescribed by NSCCL from time to time including additional
 margins, if any or such higher amount of margins as may be mutually agreed
with the Clearing Member. The margins shall be deposited by the
Constituent within such time and in such form as may be specified by the
Clearing Member.
(5) The Constituent shall be liable (entitled) to pay to (receive from) the
Clearing Member such amounts towards daily mark to market settlement of
futures contracts, final settlement of futures contracts, premium settlement
of option contracts, exercise settlement of option contracts and such other
settlement as per the requirement of NSCCL.
(6) The accounts shall be settled on a periodical basis as may be mutually
agreed between the Clearing Member and the Constituent.
(7) The Constituent shall be obliged to reimburse to the Clearing Members any
loss caused due to the closing out / liquidation of his open positions initiated
by the Clearing Member, on account of non-payment of dues by the
Constituent towards margins, additional margins, daily mark to market
settlement of futures contracts, final settlement of futures contracts,
premium settlement of option contracts, exercise settlement of option
contracts or such other settlement, fees, charges, commission, penalties and
expenses, any other sum ,as per the requirement of NSCCL.
(8) The Constituent shall do all such acts, deeds and activities that are necessary
for the purpose of strict compliance with the Rules, Bye Laws &
Regulations of NSEIL/ NSCCL by the Clearing Member.
(9) If due to the default of the Constituent, the open position of the Constituent
is closed-out and any loss is incurred due to such closeout, the Constituent
shall be liable to reimburse such loss to the Clearing Member.
6. Termination of the Agreement
The agreement entered into between the Clearing Member and the Constituent
may be terminated by the parties by giving at least one month written notice to
the other party or as may be mutually consented. Such cancellation or
termination shall not have any effect on transactions executed before the time and
date of termination and the parties shall enjoy the same rights and shall have same
obligations in respect of such executed transactions.

7. Notice
Any communication between the Clearing Member and the Constituent shall be made in
any one or more of the following ways:

(a) an electronic mail or fax

(b) delivering it by post
(c) sending it by registered post
(d) sending it under certificate of posting
 (e) sending it by express delivery post / courier services.
(f) sending it by telegram
(g) affixing it on the door at the last known business or residential address
(h) advertising it at least once in any prominent daily newspaper

8. Force Majeure
No liability shall result to either party for delay in performance or non-performance
of the obligations under the agreement caused and/or contributed to by any event of
force majeure. For purposes of this Clause, "Force Majeure" means and includes
wars, insurrections, revolution, fires, floods, epidemic, quarantine restrictions,
declared general strikes in relevant industries, act of God, act of governmental,
statutory, regulatory or legal authority and such other acts or events beyond the
control of the non-performing party.

9. No assignment
Neither party shall be entitled to assign or otherwise transfer this agreement or any
benefits, rights, obligations or interests herein whether in whole or in part to any
other agency without the prior written consent of the other.

10. Non-waiver
No forbearance, delay or indulgence by either party in enforcing the provisions of
this Agreement shall prejudice or restrict the rights of that party nor shall any waiver
of its rights operate as a waiver of any subsequent breach and no rights, powers,
remedies herein conferred upon or reserved for either party is exclusive of any other
right, power or remedy available to that party and each right, power or remedy shall
be cumulative.

11. Arbitration
(1) All disputes, differences or questions arising out of or in relation to the agreement
including the interpretation of the terms contained herein with regard to the
obligations, failure or breach thereof by any of the parties and/or of any matter
whatsoever arising out of the Agreement, shall in the first instance be resolved
mutually by the parties.
(2) If the parties fail to resolve the same mutually, then the same shall be referred to
the arbitration in accordance with the Rules, ByeLaws and Regulations of
NSCCL.
12. Jurisdiction
This agreement shall be subject to the exclusive jurisdiction of the courts in Mumbai.

IN WITNESS THEREOF, the parties to this agreement have caused these presents to be
executed as of the day and year first above written.
 For Axis Securities Limited

Signature of Applicant_________________ Authorised Signatory __________________

Name of Applicant ______________ _____ Signed by: __________________________

Name of Witness :____________________ Name of Witness:_____________________

Signature of Witness: _________________ Signature of Witness: _________________

Address____________________________ Address_____________________________

___________________________________ _____________________________