TaxTMI 
TaxTMI 
Trade Guarantee Fund (TGF)/ Settlement Guarantee Fund(SGF) – reduced exposure for ten rolling settlement
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....he Stock Exchanges Dear Sir/Madam, Sub - Trade Guarantee Fund (TGF)/ Settlement Guarantee Fund(SGF) - reduced exposure for ten rolling settlement 1. SEBI has specified in circular no.SMDRP/Policy/Cir-16/2001, dated March 09, 2001 the norms for the utilisation of the settlement/trade guarantee funds at the exchanges. 2. The para number 1 of the circular specified that in cas....
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....mendations of the Committee it has been decided that the reduced exposure shall apply to atleast ten rolling settlements instead of four settlement as specified in the circular no.SMDRP/Policy/Cir-16/2001, dated March 09, 2001. Thus the para 1 of the said circular shall now read as follows:- "1. In cases where amount shortages in a settlement for a trading member are in excess of the base....
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....nts. If the cumulative funds shortages for the next ten rolling settlements is less than 20% of BMC, the exposure limits shall be restored. However, if a member provides a deposit equivalent to his cumulative fund shortages as the 'funds shortage collateral' in his clearing account the exposure limit may be restored immediately upon meeting the shortage. Such deposit shall be kept with the....
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....en authorized to direct the exchanges to make necessary amendments to the relevant bye-laws, rules and regulations for the implementation of the above decision immediately. bring the provisions of this circular to the notice of the member brokers/clearing members of the Exchange and also to disseminate the same on the website. communicate to SEBI, the st....