Timelines for collection of Margins other than Upfront Margins – Alignment to settlement cycle

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ns) Sir/ Madam, Sub: Timelines for collection of Margins other than Upfront Margins - Alignment to settlement cycle 1. The Master Circular for Stock Brokers dated August 09, 2024 ("Master Circular"), requires the Trading Members (TMs)/ Clearing Members (CMs) to collect margins from their clients in cash segment (Para 39.1) 2. TMs / CMs are required to mandatorily collect upfront VaR ma....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

..../CMs in cash segment are also required to mandatorily collect upfront VaR margins and ELM from their clients. The TMs/CMs will have time till settlement day to collect margins (except VaR margins and ELM) from their clients. (The clients must ensure that the VaR margins and ELM are paid in advance of trade and other margins are paid as soon as margin calls are made by the Stock Exchanges/TMs/CMs. ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ssuance. 6. The Stock Exchanges and Clearing Corporations are advised to: 6.1. Make necessary amendments to the relevant bye-laws, rules and regulations for the implementation of the above decision, as may be necessary/applicable. 6.2. Bring the provisions of this circular to the notice of the market Participants and to disseminate the same on their website. 7. This circular is issued ....