TaxTMI 
TaxTMI 
Cross Margining across Exchange traded Equity (Cash) and Exchange traded Equity Derivatives (Derivatives) segments
X X X X Extracts X X X X
X X X X Extracts X X X X
....of NSE and BSE and their Clearing Houses / Corporations. Dear Sir, Sub: Cross Margining across Exchange traded Equity (Cash) and Exchange traded Equity Derivatives (Derivatives) segments This is in continuation of SEBI Circular No. MRD/DoP/SE/Cir-13/2008 dated May 05, 2008 on the cross margining facility across cash and derivatives segments for institutional trades. In order to impr....
X X X X Extracts X X X X
X X X X Extracts X X X X
....t iii. Stock futures position in derivatives segment and the position in the corresponding underlying in cash segment b. A basket of positions in index constituent stock/stock futures, which is a complete replica of the index in the ratio specified by the Exchange/Clearing Corporation, shall be eligible for cross margining benefit. c. The positions in t....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... avail the facility of cross margining, a client may maintain two accounts with the trading member / clearing member, namely arbitrage account and a non-arbitrage account, to allow converting partially replicated portfolio into a fully replicated portfolio by taking opposite positions in two accounts. However, for the purpose of compliance and reporting requirements, the positions across both acco....
X X X X Extracts X X X X
X X X X Extracts X X X X
....n to: a. Hold the positions in the cross margin account till expiry in its own name. b. Liquidate the positions / collateral in either segment and use the proceeds to meet the default obligation in the other segment. 6. Agreement The Exchange / Clearing Corporation shall enter into agreement with client / clearing member / trading member / custodian, as th....