Contribution by a non-defaulting member in the Default waterfall of Clearing Corporations

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....cial Services Centre Dear Sir/ Madam Contribution by a non-defaulting member in the Default waterfall of Clearing Corporations SEBI vide its Circular no. CIR/MRD/DRMNP/25/2014 dated August 27, 2014 has, inter alia, specified guidelines pertaining to Core Settlement Guarantee Fund and Default Waterfall for Clearing Corporations. 2. Pursuant to deliberations with Risk Management Review C....

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.... the period. The period of 30 calendar days shall commence from the date of notice of default by Clearing Corporation to market participants. In case there is failure on part of some contributor(s) to replenish its (their) contribution, same shall be immediately met, on a temporary basis during the month, in the following order: (i) By CC (ii) By SE" b. Layer VII of the default waterfa....

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.... shall be called from such resigned members. (iii) The maximum capped additional contribution by non-defaulting members shall be lower of 2 times of their primary contribution to Core SGF or 10% of the Core SGF of the segment on the date of default in case of equity/ debt segments. (iv) The maximum capped additional contribution by non-defaulting members shall be lower of 2 times of their pr....