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1. All upfront margins are to be collected in advance of trade.
2. Clearing Members are required to collect margins on consolidated crystallised
obligation from its respective Trading Members (TM)/ Custodial Participants (CP) only in the from of cash.
3. T day margins on consolidated crystallised obligations has to be collected by T+1 day.
4. The Clearing Members (CM) shall report segment wise shortfall amount of Crystallised Settlement Obligation
of TM and CP to the clearing corporation in excess of Rs 5 lacs if
the shortfall continues beyond 1 day of the stipulated timeframe.
5. Clearing Member shall be required to have risk management policy covering
collection of margin, procedure for bifurcation of TM proprietary
and client collateral, ratio of cash and non cash collateral, upper
cap on acceptance of securities from a member to avoid concentration risk etc.
For more information read the full
NSE circular
