https://www.taxtmi.com/circulars?id=64960 SEBI prescribes a framework mandating daily disaggregated reporting of client collateral by TMs to CMs and by CMs to SEs/CCs, client-accessible portals, strict allocation procedures with CM/CC validations, and rules that allocated collateral plus securities re-pledged are used to meet client margins in a prescribed blocking order. CMs must maintain at least 50% cash-equivalents at the CM level, permit allocation changes subject to adequacy, and follow a four-stage default management process (settlement, portability/return, close-out/provisional appropriation, final attribution) with the CC default waterfall as fallback. en-us Tue, 20 Jul 2021 00:00:00 +0530 Tue, 20 Jul 2021 18:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=64960 SEBI prescribes a framework mandating daily disaggregated reporting of client collateral by TMs to CMs and by CMs to SEs/CCs, client-accessible portals, strict allocation procedures with CM/CC validations, and rules that allocated collateral plus securities re-pledged are used to meet client margins in a prescribed blocking order. CMs must maintain at least 50% cash-equivalents at the CM level, permit allocation changes subject to adequacy, and follow a four-stage default management process (settlement, portability/return, close-out/provisional appropriation, final attribution) with the CC default waterfall as fallback. Circulars SEBI Tue, 20 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/circulars?id=64960