Short-collection/Non-collection of client margins (Derivatives Segments)

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ith BSE, MCX-SX, NSE and USE, it has been decided that Stock Exchanges shall levy penalty specified hereunder on trading members for short-collection/ non-collection of margins from clients in Equity and Currency Derivatives segments: For each member a Per day Penalty as %age of a ( ₹ 1 lakh) And ( 1 .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... re in the index (close to close value of Nifty/Sensex for all equity derivatives) and in the underlying currency pair (close to close settlement price of currency futures, in case of all currency derivatives) on a given day, (day T), then, the penalty for short collection shall be imposed only if the shortfall continues to T+2 day. 5. All instances of non-reporting shall amount to 100% short co .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... egulation) Act, 1956 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market. 10. The circular shall come into force from September 1, 2011. 11. This circular is available on SEBI website at www.sebi.gov.in under the category Derivatives- Circulars . Yours faithfully, Sujit Prasad General Manager De .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X