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

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..... 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 margins and ELM from their clients. TMs/CMs have time till ' .....

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..... 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. The period till settlement has been allowed to TMs/CMs to collect mar .....

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..... 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 in exercise of powers conferred under Section 11(1) of Chapter IV of the Securities and Excha .....

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