Grievance Redress Arbitration
Arbitration is an alternative dispute resolution mechanism provided by the Exchange for resolving disputes between trading members inters and between trading members and their clients in respect of trades done on the Exchange.
All claims, differences or disputes between trading members, or between a member and a remisier or authorised assistant, employee or other person sharing brokerage with him, arising out of trades, contracts or transactions executed on the automated trading system of the Exchange will be, with the permission of the Board Of Directors, referred to arbitration in accordance with the Rules, Bye-laws and Regulations in force.
The Bye-laws of the Exchange provide the procedure for Arbitration. The Exchange maintains a panel of arbitrators. SEBI directives stipulate that not more than 20% of the members of the Arbitration Committee shall be Trading Members. Parties to the dispute have the option to select the arbitrator of their choice from the panel. In case either party is aggrieved by the Arbitration award recourse can be had under the provisions in the Arbitration and Conciliation Act 1996.
Cochin Stock Exchange, Kochi, India