Implementation of SEBI circular on ‘Margin obligations to be given by way of Pledge / Re-pledge in the Depository System’

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....orporations 3. All Depositories Madam / Sir, Subject: Implementation of SEBI circular on 'Margin obligations to be given by way of Pledge / Re-pledge in the Depository System' 1. SEBI, vide circular no. SEBI/HO/MIRSD/DOP/CIR/P/2020/28 dated February 25, 2020, specified mechanism with regard to Margin obligations to be given by way of Pledge / Re-pledge in the De....

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.... vide circular no. SEBI/HO/MIRSD/DOP/CIR/P/2020/28 dated February 25, 2020 shall be implemented with effect from August 01, 2020. Trading member (TM) / Clearing member (CM) shall endeavor to align their systems and accept client collateral and margin funded stocks by way of creation of pledge / re-pledge in the Depository system. 2.2. The TM / CM shall also be allowed to accept client sec....

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.... accounts tagged as 'Client Margin / Collateral' by August 31, 2020. 4. Stock Exchanges, Clearing Corporations and Depositories are directed to bring the provisions of this circular to the notice of their members / participants and also disseminate the same on their websites. 5. This circular is issued in exercise of powers conferred under Section 11(1) of the Securities and Exch....