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This page contains important information on the terms and conditions that apply to yourE-Securities Limited trading and demat (an account which permits you to hold financial securities in digital form) (hereinafter referred to as ESL).ESLis a Trading Member of the Dhaka Stock Exchange (DSE) and the Chottogram Stock Exchange (CSE).
All of the terms and conditions set out herein, along with all papers, including but not limited to application forms and undertakings, signed by you during account opening, are subject to your compliance with all of the terms and conditions set forth herein.
Please take the time to study this page carefully and save it for future use. ESL (hereafter referred to as "ESL"), a company incorporated under the Companies Act of 1994, owns, operates, and maintains the website. Please keep in mind that the information presented here is subject to change at any time without notice.
According to DSE rules, the Client must complete the registration process as required from time to time before using online trading services.
The Client must register as a client by following the instructions provided on the website. The Client accepts that all investment and disinvestment choices are made solely on the basis of the Client's own assessment of his or her financial situation and investment objectives.
This includes any decisions made by the Client based on information made available on ESL's website. The Client will not hold ESL or any of its officers, directors, partners, employees, agents, subsidiaries, affiliates, or business associates liable for any trading losses, costs, or damages incurred by the Client as a result of relying on investment information, research opinions or advice, or any other material/information on ESL's website, literature, brochures, or any other agency appointed/authorized by ESL.
Regarding the suitability of any investment decisions, the Client should seek independent expert counsel.
The Client also understands that ESL personnel are not authorized to provide such advice, and that the Client will not seek or rely on such advice from ESL or any of its employees.
ESL will issue the customer with a username and trading password that will allow him to access the Online Trading services over the phone or in any other manner that ESL deems appropriate for using the services.
ESL may also give the customer a username and password to access its back-office for various reports and other purposes.
Information on the website governs all terms relating to the usage, reset, and modification of such a password.
he Client is aware that the initial password is generated by ESL's Online Trading System, and that ESL is aware of this. The Client accepts and commits to change his first password as soon as possible after receiving it. The client is well aware of this.
The Client is fully liable for all orders submitted and transactions completed through ESL's Online Trading System using the Client's Username and/or Password, regardless of whether or not such person was authorized to do so. Any unauthorized use of the Client's Username or Password must be immediately reported to ESL, along with full details of the unauthorized use, including the date of the unauthorized use, the manner in which it was unauthorized used, the transactions effected as a result of such unauthorized use, and so on.
Any unauthorized use of the Client's Username or Password must be immediately reported to ESL, along with full details of the unauthorized use, including the date of the unauthorized use, the manner in which it was unauthorized used, the transactions effected as a result of such unauthorized use, and so on.
The Client acknowledges that he is fully aware of and understands the risks associated with using the internet to obtain online trading services, including the risk of a third party misusing and abusing his Username and/or Password, as well as the risk of a person hacking into the Client's account on ESL's Online Trading System and unauthorized routing orders on the Client's behalf through the System.
The Client agrees to be entirely liable and responsible for any and all unauthorized use and misuse of his Password and/or Username, as well as any and all acts performed by anyone using the Client's Username on ESL's Online Trading System in any way.
All orders for the purchase, sale, or other dealings in securities routed through the ESL's Online Trading System via the Client's Username are deemed to have been given by the Client.
When placing orders over the phone, the client agrees to supply information such as the customer user identification number and any other information that may be required to verify the client's identity.
The Exchange Provisions will govern all orders and instructions, as well as all contracts and transactions entered into as a result of them, as well as their settlement.
Without limiting the foregoing, if the Client discovers or suspects unauthorized access to his Username, Password, or Account, notices discrepancies that could be attributable to unauthorized access, forgets his password, or discovers a security flaw in ESL's Online Trading System, he must immediately notice ESL in writing with full details.
Limits on the orders that the Client can place through ESL's online trading System (including exposure limits, turnover limits, limits on the number, value, and/or kind of securities in respect of which orders can be placed, the companies in respect of whose securities orders can be placed, and so on) may be imposed and varied by ESL from time to time.ESL may need to change or reduce the restrictions or impose new limits urgently based on ESL's risk perception and other circumstances considered relevant by ESL, and ESL may not be able to notify the Client of such variation, reduction, or imposition in advance.
ESL will not be liable for any such variation, reduction, or imposition of limits, or for the Client's inability to route any order through ESL's Online Trading System as a result of any such variation, reduction, or imposition of limits.
The Client acknowledges and accepts that ESL may, in its sole discretion and without notice, ban or restrict the Client's capacity to place orders or trade securities through ESL at any time.
Though orders will often be transmitted to the Exchange's computer systems within a few seconds of being placed by the Client on ESL's Online Trading System, ESL will not be liable for any delay in the execution of any order or any loss resulting from the delay.
ESL may impose script-by-script surveillance or other limitations, such as script-by-script limits, on the client. The client additionally acknowledges that ESL may impose a variety of surveillance that vary from client to client based on ESL's risk perception and other variables deemed relevant by ESL.
If the Client places a market order, he agrees to accept the price at which the exchange's computer system executes his order, which may differ from the price at which the security is trading when the order is placed in ESL's Online Trading System.
The client acknowledges that the system will forward all orders placed through the website to the Exchange. All orders placed outside of the website will be routed through the system to Exchange terminals or any other order execution mechanism at ESL's discretion. If the order is placed during trading hours, it will be sent to the market system and executed there.
Following the execution of the order, trade, an electronic mail or SMS confirmation will be issued to the client, and this will be considered genuine delivery by ELS. It is the client's responsibility to review any order confirmations, transactions, and cancellations immediately upon receipt, whether by electronic mail or any other electronic means. The customer is responsible for following up with ESL for any such confirmations that are not received within the specified time frame.
The client shall bring any errors in any report, confirmation or contract note of executed trades (including execution prices, scripts or quantities) to ESL’s notice in writing by an electronic mail or fax within twenty-four hours of receipt of the concerned report, confirmation or contract note. Any other discrepancy in the confirmation or account shall be notified by the client to ESL in writing via electronic mail or fax within twenty-four hours from the time of receipt of the first notice. In all cases, ESL shall have a right to accept or reject the client’s objection.
ESL may experience a delay in receiving transaction, status, or other reports from the various exchanges or other parties in relation to or in connection with which ESL has entered into contracts or transactions on behalf of the customers. As a result, ESL may send late reports to the client regarding transactions that were previously unreported to him as expired, canceled, or performed.
ESL will not be liable to the client for any damages incurred as a result of late reports, statements, or inaccuracies in the report / statements computed by or received from any exchange. The client agrees that the order may be denied if the markets close before the Exchange accepts the order for whatever reason.
The client also acknowledges that ESL has the right to reject Orders if the Exchange rejects them for any reason.In the event that an order is rejected by the Exchange, the client acknowledges that the order will be declined in any case and will not be re-processed. In the event that an order is rejected by the Exchange, the client acknowledges that the order will be declined in any case and will not be re-processed.
ESL may reject any order placed on the website or in any other manner for any reason, including but not limited to non-availability of funds/matured funds in the client's trading account, non-availability of securities in the client's Demat account with a designated depository participant, insufficiency of margin amount if the client opts for margin trading, suspension of scrip-specific trading activities by or on an Exchange, and suspension of scrip-specific trading activities by If the order is not accepted on the website for whatever reason, the customer accepts that ESL has the right to deem the transaction as lapsed.
The customer is aware that electronic trading systems at the Exchange and at ESL locations are susceptible to temporary outages, malfunctions, or failures. ESL shall be entitled to cancel related requests with the Client and shall not be liable to execute the client's desired transactions in the event of non-execution of trade orders or trade cancellation due to the occurrence of such events or vulnerabilities due to failure / disruption / breakdown of system or link. In such a situation, ESL disclaims any liability for any losses incurred / that may be incurred by the Client as a result of events beyond ESL's control. Regardless of the amount in the client's account balance, ESL may, in its sole discretion, allow the execution of securities orders.
The customer agrees to follow and be bound by all current Exchange rules, regulations, and bye-laws relevant to transactions carried out on his behalf by ESL and orders submitted by him on the website or in any other means. ESL will not be liable for any orders placed by the Client by mistake, and any order placed by the Client using the allotted user name and security code(s) will be considered a valid order for which the Client will be liable.
ESL will not be held liable for any orders placed by the Client by mistake, and any order placed by the Client using the allotted user name and security code(s) will be considered a valid order for which the Client will be completely accountable. It is not guaranteed that an order will be canceled or modified in response to a client's request. Only if the client requests cancellation and modification, and the order is successfully canceled or amended before it is executed, will the order be canceled or modified. Wherever possible, market orders are executed right away.
Until the customer receives confirmation from ESL, the client is not entitled to assume that an order has been performed, canceled, or amended. However, owing to technical or other causes, the confirmation may not be sent to or received by the client immediately, and such a delay shall not entitle the client to assume that the order has not been performed, canceled, or modified until and until ESL has verified in writing. After the market closes for the day, the pending orders will be managed by the exchange systems.
ESL will issue confirmation notes, and the client accepts that ESL will issue the contract note in digital form, which will be transmitted to the client's address by electronic mail/SMS. ESL will not be held liable if the transaction confirmation is not received owing to a change in the Client's contact address that has not been communicated to ESL in writing. Client understands that it is his responsibility to study trade confirmations, contract notes, bills, and account statements as soon as they arrive. If the client does not object in writing to any of the contents of such trade confirmation/intimation within 24 hours to ESL, all such confirmations and assertions will be deemed correct.
ESL reserves the right to allow or prohibit clients from trading in any security or class of securities, or derivatives contracts, and to apply such conditions as it sees fit from time to time, including scrip-wise conditional trading.
The Client agrees to deposit with ESL as soon as possible any cash, securities, or other suitable security that ESL may need as margin. The Client accepts that ESL has the right to compel the Client to deposit a larger margin with ESL than the Exchange requires. ESL reserves the right to require the Client to maintain a margin of a value determined by ESL for as long as the Client wishes to use ESL's Online Trading Service.
There will be no interest on the Margin.
ESL shall have the irrevocable right to set off a portion or all of the Margin, i.e., by appropriating the relevant amount of cash or by selling or transferring all or some of the Securities that form part of the Margin, against any dues of the Client or a member of the Client's group (for the purposes of these Terms, "Group" shall mean all of the individuals, group companies, firms, entities, and persons) against any dues of their respective obligations under these Terms.
After imposing a haircut that ESL deems appropriate, the customer accepts and enables ESL to calculate the market value of securities put as margin. The client agrees to keep a constant eye on the market value of such securities. The customer also agrees to quickly refill any shortfall in the value of the margin caused by a decrease in the market value of the securities put as margin, whether or not ESL is notified of the shortfall.
ESL reserves the right to require the payment of margin in cash instead of or in addition to margin in securities in its sole discretion. The Client agrees to comply with ESL's need for quick payment of Margin in cash. Without prejudice to the stock broker's other rights (including the right to refer a matter to arbitration), the stock broker shall be entitled to liquidate / close out all or any of the client's positions for non-payment of margins or other amounts, outstanding debts, or other reasons, and to apply the proceeds of such liquidation / close out, if any, to the client's liabilities / obligations. Any and all damages and financial charges incurred as a result of such liquidation / closure shall be reimbursed.
The client agrees to abide by any exposure restrictions imposed from time to time by the regulatory organizations.
In times of excessive volatility, the deposits made by ESL with the Exchange as member margin may not be sufficient, and ESL's trading terminals may be temporarily suspended as a result of the cumulative effect of multiple clients failing to meet their obligations under this agreement.
In these circumstances, no client has the right to seek compensation from ESL for any losses incurred as a result of the suspension of trading.
Payment of money to ESL - The Customer agrees to make all payments due to ESL within the stipulated period, and in the event of a delay, ESL reserves the right to refuse to carry out transactions or close out the position at their discretion, with all expenses and losses incurred totally and entirely by the client. All payMoney payout to ESL - Notwithstanding any other agreement or arrangement, if any, between the parties hereto, the client hereby authorizes ESL to release all payments due to him from the trading account maintained with ESL, upon explicit request.
ESL has the right to regard any amount of money or security on the client's credit as margin received made to ESL must be done from the client's account and not through a third party.
The client agrees to supply and continue to provide all information about themselves that ESL may request, including but not limited to their NID number, and declares that all information and facts provided to ESL are accurate.
The Client is aware and acknowledges that trading over the internet is subject to many unknown factors, as well as complex hardware, software, systems, communication lines, peripherals, and other components that are susceptible to interruptions and dislocations; and ESL's Online Trading Service may be unavailable at any time without notice. ESL and the Exchange make no representation or warranty that the Client's access to ESL's Online Trading Service will be uninterrupted at all times. The Client accepts that he will have no recourse against the Exchange or ESL for any suspension, interruption, non-availability, or malfunctioning of ESL's Online Trading System or Service, or the DSE/CSE Exchanges' services or systems, for any reason.
ESL declares that it has followed and will continue to follow all statutory and regulatory directions in order to provide Internet Trading services through the website esecuritiesbd.com and to trade in the cash and derivatives segments of the exchange.
The Client certifies that all or any of the securities he has deposited with ESL, whether for margin purposes or otherwise, are his property and that his title to them is clear and unencumbered.
The Client/s undertake to indemnify and hold ESL blameless from any loss sustained by it, its customers, or a third party, as well as any claim or action brought by a third party as a result of the Client/s' actions.
The Client affirms and guarantees that he or she allows ESL to take all necessary steps on the Client's behalf for provisions or to complete or settle any transactions entered into through or with ESL or performed by ESL on the Client's behalf. Nothing in this document, however, obligates ESL to take such actions.
The Client undertakes to pay ESL brokerage, commission, fees, service tax, and other taxes and transaction expenses as they apply to the Client's account and transactions, as well as the services that he receives from ESL, as they exist from time to time.
ESL will provide the Client with a schedule of brokerage, fees and commissions, applicable service and other taxes, and other transaction expenses from time to time upon request.
The Client acknowledges that none of the services accessible on the website constitute ESL's investment advice.
The Client accepts that if ESL or any ESL employee or official provides the client with any information, recommendation, or advice, the client may act on it at his or her own risk and expense, and ESL will not be liable or responsible for it.
ESL, its officers, directors, partners, employees, agents, and affiliates are not responsible for the client's investment decisions or transactions.
ESL does not guarantee that the service will be available at all times or that it will be error-free. The service is provided "as is" and "as available," with no explicit or implied warranties of any kind, including, but not limited to, merchantability and suitability for a particular purpose. The client agrees that ESL will not be held liable for delays in order transmission caused by a system failure or failure of communication facilities, whether caused by a fault of ESL's or the Exchanges' systems or otherwise, or for any other delay beyond ESL's reasonable control due to a system failure or failure of communication facilities, or for any other delay beyond ESL's reasonable control.
Any changes to this Agreement will be made exclusively at ESL's discretion and will be communicated to the client by a relevant change to the terms and conditions or other applicable portion of the website, or in any other means.
n the event of the client's death, insolvency, winding up or liquidation, or other inability to receive and pay for, deliver or transfer securities that the client has ordered to be bought or sold, ESL may close out the client's transaction, and the client or his legal representative shall be liable for any losses, costs, and be entitled to any surplus that may result.
The client understands that for internet trading via order routing system, authentication technologies and strong security measures are essential, and agrees to keep the password of the client and/or their authorized representatives confidential. The customer also agrees to hold ESL harmless from any loss, injury, claim, or action brought against ESL as a result of any party's misuse of the password.
The validity, legality, and enforceability of the remaining provisions of this Agreement shall not be impaired or affected in any way if any one or more of the provisions included herein become invalid, unlawful, or unenforceable in any form under any legislation currently in force.
The following is the refund and cancellation policy for all payments made towards account opening or other services using any means of payment: Account opening fees for enabling equities or other services are non-refundable.
Picking up essential documents for the account opening procedure is contingent on our representatives' availability, which can be provided at any time and location.
Please take note of the following:
All notices, correspondences, or communications issued under this agreement shall be served in one or more of the following modes of communication, and such notice or communication shall be served at the party to this agreement's ordinary place of residence and/or last known web address / residing address and / or at the party's ordinary business address.