Comment on Mandatory TOTP for illiquid risky contracts

Hari commented on 29 Oct 2020, 02:08 PM

Firstly, Broker acting as regulator is not good by any standards or measures. You are provided brokerage license, do broking alone, don’t forget: “you don’t have regulator license”.

Secondly, there could be easy workaround for these illiquid stocks trading. In case the order placed is profitable, let the order go through without hassle of TOTP, if not ask for the TOTP. There are many stocks(which fall beyond N200 Universe) which are illiquid, however, good quality stocks.

Thirdly, don’t deprive end users with your illogical logic actions saying you are protecting them. Every big stock in the N200 today somewhere it started as illiquid or penny stock. By keeping them away, you are also letting them go away from early entry into tomorrow’s big stocks!

And finally, there are no kids trading here. People should know their actions are consequence based. So stop monitoring the traders and just providing brokerage service, than become regulatory brokerage by hammering a final nail in the coffin.

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