Margin verification: intra day client margin snapshots in derivatives must use fixed Beginning of Day margin parameters. Intra day verification of upfront client margins in derivatives shall use fixed Beginning of Day margin parameters comprising SPAN and ELM requirements; this change applies only to verification snapshots. There is no change to End of Day margin calculation or cash segment collection. Clearing Corporations will continue to update margin parameters intra day for actual collection. Exchanges and Clearing Corporations must implement system and rule changes, notify members, and report implementation status; the framework amends prior SEBI circulars and is effective August 01, 2022.
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Margin verification: intra day client margin snapshots in derivatives must use fixed Beginning of Day margin parameters.
Intra day verification of upfront client margins in derivatives shall use fixed Beginning of Day margin parameters comprising SPAN and ELM requirements; this change applies only to verification snapshots. There is no change to End of Day margin calculation or cash segment collection. Clearing Corporations will continue to update margin parameters intra day for actual collection. Exchanges and Clearing Corporations must implement system and rule changes, notify members, and report implementation status; the framework amends prior SEBI circulars and is effective August 01, 2022.
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