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Objective of Margin collection and reporting policy is to set a procedure and guidelines for collection of Margin from both, Clients as well as from Trading members, and reporting it to relevant Exchanges.
1.All margins for trades done in any Exchange, Will be collected upfront.
2.Margin will be accepted in the form of Funds through Account Payee Cheque, Account Payee Demand Draft/ Pay Order, NEFT, Electronic Fund Transfer, FDR in favor of Exchange, Interest bearing fixed margin and Securities.
3.No Margin will be accepted through third party cheque and in case of Demand Draft / Pay Order, a declaration signed by client, must be accompanied.
4.In case of securities, Only liquid securities, received from registered DP ID of client will be accepted, and a hair cut as per exchange VAR will be applied.
5.At the end of the day, Shortage of margin collected, will be calculated and reported to relevant Exchange.
6.In case of short margin, Follow up for collection will be done, and if margin is not received from client then position will be squared off.