Margin collection timelines aligned to settlement cycle; non-upfront margins must be collected by settlement day or penalties may apply. Trading Members and Clearing Members must collect upfront VaR margins and ELM in advance of trade; all other margins must be collected by the settlement day. If pay-in is made by settlement day other margins are deemed collected and no penalty arises; failure by client to pay-in and by TM/CM to collect other margins by settlement day will attract applicable penalties.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Margin collection timelines aligned to settlement cycle; non-upfront margins must be collected by settlement day or penalties may apply.
Trading Members and Clearing Members must collect upfront VaR margins and ELM in advance of trade; all other margins must be collected by the settlement day. If pay-in is made by settlement day other margins are deemed collected and no penalty arises; failure by client to pay-in and by TM/CM to collect other margins by settlement day will attract applicable penalties.
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