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Block Mechanism in demat account of clients undertaking sale transactions - SEBI - SEBI/HO/MIRSD/DOP/P/CIR/2021/595

Extract

..... rities has been made to the Clearing Corporation (CC), then all margins would deemed to have been collected and penalty for short /non-collection of margin including other margins shall not arise. 2. SEBI has received representations from the clients undertaking sale transactions, wherein the clients give Early Pay-In (EPI) for sale trades which are yet to be executed. If the sale trade is executed, then the securities get adjusted against EPI, however, if securities remain unsold, then the secu .....

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Block Mechanism in demat account of clients undertaking sale transactions - SEBI

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..... based on physical DIS given by client or Power of Attorney (POA) holder. 4.2. Depositories may keep block on the securities in client’s demat account in respect of Intra or Inter depository transfer instruction till pay-in day. The blocked securities will be transferred only after checking against the client level net delivery obligation received from CCs. 4.3. Depositories will provide the details of transfer instructions viz., UCC, TM ID, Exchange ID etc. to CCs for clients to avail EPI .....

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Block Mechanism in demat account of clients undertaking sale transactions - SEBI

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..... Securities: 4.9. After receiving client level net obligations on T day from CCs, depositories will match the Intra or Inter depository transfer instruction details with CC obligation details based on UCC, TM ID, CM ID, Exchange ID, etc. 4.10. In case of unmatched orders, CCs shall upload cancellation of Block instruction on T day so that securities are unblocked and become free in client’s demat account on T day itself. 4.11. Broker or client shall not be allowed to unblock securities if .....

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Block Mechanism in demat account of clients undertaking sale transactions - SEBI

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