How to deal with genuine errors at commodity exchanges

SEBI vide Circular notified that trading members at commodity exchanges can modify client codes after the execution of the trade to rectify a genuine error that had occurred while entering a client code at the time. SEBI clarified that those errors can be modified, which occurred due to communication, or punching or typing such that the original client code and the modified client code are similar to each other. Further, shifting of trades to the 'error account' of broker would not be treated as modification of client code, provided trades in the account are subsequently liquidated in the market and not shifted to some other code. Also, brokers would have to disclose the codes of accounts, which are classified as 'error accounts' to the exchanges. Besides, each broker should have a well-documented error policy approved by the management of the broker. The commodity exchanges would have to periodically review the trades flowing to the error accounts of the brokers.