https://www.taxtmi.com/circulars?id=58145 Clearing corporations must maintain a Core Settlement Guarantee Fund (Core SGF) per segment adequate to meet member default contingencies, with monthly determination of a Minimum Required Corpus (MRC) derived from daily stress tests. Contribution shares require the clearing corporation to fund at least half the MRC, the stock exchange at least one quarter, and clearing members up to one quarter pro rata by risk; the fund is managed by the Defaulter's/SGF Utilisation Committee, invested in highly liquid low risk instruments, and is subject to a prescribed multilayered default waterfall and comprehensive daily stress, liquidity, reverse stress and back testing requirements. en-us Wed, 27 Aug 2014 00:00:00 +0530 Mon, 10 Dec 2018 15:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=58145 Clearing corporations must maintain a Core Settlement Guarantee Fund (Core SGF) per segment adequate to meet member default contingencies, with monthly determination of a Minimum Required Corpus (MRC) derived from daily stress tests. Contribution shares require the clearing corporation to fund at least half the MRC, the stock exchange at least one quarter, and clearing members up to one quarter pro rata by risk; the fund is managed by the Defaulter's/SGF Utilisation Committee, invested in highly liquid low risk instruments, and is subject to a prescribed multilayered default waterfall and comprehensive daily stress, liquidity, reverse stress and back testing requirements. Circulars SEBI Wed, 27 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/circulars?id=58145