TaxTMI 
TaxTMI 
Contribution by a non-defaulting member in the Default waterfall of Clearing Corporations
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....ntribution 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 Committee (RMRC) of SEBI and various stakeholder....
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....ommence 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 waterfall, as specified under clause 16 of the said Circular d....
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....ximum 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 primary contribution to Core SGF or 20% of the Core SGF of the ....