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of <h1>SEBI Requires Margin Obligations via Pledge/Re-Pledge in Depository System Effective August 1, 2020; Changes for Trading Members.</h1> The Securities and Exchange Board of India (SEBI) has mandated the implementation of a mechanism for margin obligations through pledge/re-pledge in the depository system, effective August 1, 2020. This decision follows disruptions caused by the COVID-19 pandemic. Trading and clearing members are required to align their systems to accept client collateral and margin-funded stocks via pledge/re-pledge. The acceptance of client securities by title transfer is allowed only until August 31, 2020. Existing demat accounts tagged as 'Client Margin/Collateral' must be closed by August 31, 2020. This circular aims to protect investors and regulate securities markets.
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