Zerodha Part 2

[timepass]

This never comes out, because we as brokers don't really have a forum to share database of defaulters today in India.

I hope that you are working in that direction too.

( I know TP hates me mentioning India is underdeveloped, but if you work as a broker , you will know that underdeveloped is an understatement).

I guess you did study the prevailing conditions before you launched your business in India, didn't you ? You appear to behave as if you are surprised by the markets here, an eternal foreigner unable to adjust to the local conditions and always harking about how bad the things are here and how good they are "back home in Oklahama" or whatever. A brown saheb.

As for the traders, this is what we have and this is what we are going to work to earn our living. We thank you for the new ideas but resent always being held in contempt.

 

[karthik_sri]

Let me give you as per today's price.

1. If you do this together around 24k.

2. 14k for the second.

We have an interesting tool for this: http://www.zerodha.com/z-connect/blog/view/span-calculator

Hi Zerodha,
Is short Sell allowed with this margin under Options!!!

Karthik

 

[sumosanammain]

I hope that you are working in that direction too.

I guess you did study the prevailing conditions before you launched your business in India, didn't you ? You appear to behave as if you are surprised by the markets here, an eternal foreigner unable to adjust to the local conditions and always harking about how bad the things are here and how good they are "back home in Oklahama" or whatever. A brown saheb.

As for the traders, this is what we have and this is what we are going to work to earn our living. We thank you for the new ideas but resent always being held in contempt.

TP Saheb....... whats with all the anger.........

Looks like the markets have been extra hard on you

 

[timepass]

TP Saheb....... whats with all the anger.........

Looks like the markets have been extra hard on you

Nope.. I have a feeling that we have a Satyam in the making, with all the hustle and making the smaller guys feel low...

 

[akrsrivastava]

Anyone trading with NOW on windows 8 platform? I bought a new system with windows 8 and installed NOW from the zerodha website. When I am trying to launch NOW, it gives an error saying "Failed to open mpic config file".

sir,
I aam successfully using now on windows8 64 bit.First delete now, then reinstall.

Even I was not able to install the latest version of Now. Was getting the same issue as above. Uninstalled and reinstalled multiple times, but no luck. But now I have migrated to Zerodha Trader.

 

[Smart_trade]

Smart,

Because of the history of broking fraternity,everyone considers brokers as these demons out there to make fast money, even at the risk of the clients.

Not everyone is the same, but what retail doesn't understand is that there are lakhs of clients looking at loopholes to make a fast buck at the risk of the brokers. This never comes out, because we as brokers don't really have a forum to share database of defaulters today in India.

The problem with letting a client trade on a demat without POA is that, it becomes very similar to letting a client trade without money in his account. When we started our business, we had said that you can transfer even from other demats using DP slips and sell it with us. The issue was, suddenly there were cases where the stocks were not getting transferred in the right amount of time, mainly because of the regulatory infrastructure available in India( I know TP hates me mentioning India is underdeveloped, but if you work as a broker , you will know that underdeveloped is an understatement). We as brokers would get forced by the client, who would show us the proof of transfer to let him sell shares. There were clients who would sell it and if they see any price movement upwards, also sell it with another broker who has the POA and have the shares debited instantly from his demat. The DP slip he has given us would then bounce(similar to margin cheque) and we would be stuck with a short position and the auction penalty on our head. We stopped this process immediately.

SPEED e is very interesting and we are hoping that the systems will be stable enough in the next few months that we can tell all our cleints that they can map any demat of theirs to both buy and sell..


Can you also message me this broker you are talking about, PM? I can figure out the best practices, which might help us to offer the same...

Thanks Zerodha.

1) If there are shortages or no delivery from clients, the auction charges etc are to his account. You can take an undertaking to that effect. Anyone trading online has to fulfill all his obligations. You have clients margin with you.So if margin is Rs 1 Lakh, allow him to sell on delivery shares worth say Rs 2 Lacs or 3 Lacs so that even if they are auctioned,the debit can be put to his account. Alternatively you can even think of allowing sale only against advance transfer. So I transfer the shares in your designated account today and based on this receipt you allow me to sell them tomorrow. A bit cumbersome process but ok to start with and 100 % safe.

2) Speed- e is working beautifully. It is a stable and proven system.I have been using it for last over 5 years. The shares get transferred in 30 min time.All done electronically.....I can put a transfer instructions even in the night and it gets transferred by 9:30 in the morning and I get early pay-in benefit also. Faultless service from NSDL. In last 5 years I have never had a single problem in transfer through speed-e. If you need any further information on speed-e , I will be happy to provide.

3) PMed you tel nos of both my brokers.

Smart_trade

 

[poortrader]

Hi Zerodha,

I have a doubt. As far as I can remember there is no option of appointing a nominee while opening the "trading account" with you. In case there is lot of money left in the account and the account holder dies what is the process for transferring the money to his bank account?

 

[jamit_05]

<.................>

 

[jamit_05]

The NSDL website defines the use of SPeed-E as

"Demat account holders can submit delivery instructions to their DP's through SPEED-e website instead of submitting delivery instruction slips"

This means, one can electronically move shares TO and FRO between any of several Demat accounts (for which he has passwords) to Zerodha using Speed-E without having a demat or POA with Zerodha.

In that way, with one trading account with Zerodha one could buy stocks for several demat accounts and still not have a demat or give POA to Zerodha.


PS: Zerodha is not showing in the list of registered DPs for speed e. I think they should register.

 

[Zerodha]

I hope that you are working in that direction too.

I guess you did study the prevailing conditions before you launched your business in India, didn't you ? You appear to behave as if you are surprised by the markets here, an eternal foreigner unable to adjust to the local conditions and always harking about how bad the things are here and how good they are "back home in Oklahama" or whatever. A brown saheb.

As for the traders, this is what we have and this is what we are going to work to earn our living. We thank you for the new ideas but resent always being held in contempt.

TP we are in at as a business and you will know that we keep trying to do something new, it is not that we complain and keep quiet. When I mention about inefficiency in the system, it is sometimes out of frustration, as we get to see the otherside of the story.

Will keep it to minimum

Cheers,