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Collection and Reporting of Margins by Trading Member (TM) / Clearing Member (CM) in Cash Segment - Clarification - SEBI - SEBI/HO/MIRSD/DOP/CIR/P/2020/173

Extract

..... short-collection / non-collection of margins by Trading Member (TM) / Clearing Member (CM). 2. Paragraph 4.1.1 and 4.1.2 of the SEBI circular dated November 19, 2019, specifies the following: The ‘margins’ for this purpose shall mean VaR margin, extreme loss margin (ELM), mark to market margin (MTM), delivery margin, special / additional margin or any other margin as prescribed by the Exchange to be collected by TM/CM from their clients. Henceforth, like in derivatives segment, the T .....

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Collection and Reporting of Margins by Trading Member (TM) / Clearing Member (CM) in Cash Segment - Clarification - SEBI

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..... representations received with regard to levy of penalty for non-collection of “other margins” (other than VaR and ELM) on or before T+2 days from clients by TM / CM, following is clarified: 4.1. If pay-in (both funds and securities) is made by T+2 working days, the other margins would deemed to have been collected and penalty for short / non collection of other margins shall not arise. 4.2. If Early Pay-In of securities has been made to the Clearing Corporation (CC), then all margin .....

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Collection and Reporting of Margins by Trading Member (TM) / Clearing Member (CM) in Cash Segment - Clarification - SEBI

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