22
Tuesday
June 2021
4:39 PM IST
News Headlines
Sharad Pawar, Yashwant Sinha call meet to put up united opposition        Kerala to implement tourism projects in time-bound manner: Riyas        BCCI to donate Rs 10 cr for preparations of Olympic-bound athletes        WTC Final, Day 3: NZ bowl out India for 217 in 1st innings, Jamieson picks 5 wickets        AIBEA to hold National Webinars from Jul 1 to commemorate 52nd anniversary of Bank Nationalisation        France elects regional leaders, preps for presidential vote        Argentina reports first confirmed case of ‘Black Fungus’: Reports        Bengal plans more COVID beds for women amid third wave threat        Delhi eases COVID restrictions        COVID-19: India records less than 60,000 cases after 81 days        WTC Final, Day 2: India 146/3 at stumps against NZ        Union Bank of India inks MOU with NSIC to support MSMEs with credit requirements        Seven dead, 13 injured after plane crash-lands in Russia's Kemerovo region        Ebrahim Raisi elected Iran's new president        MHA asks states, UTs to not lower guard, calibrated opening up of lockdown advised        PM congratulates LS Speaker Om Birla for completing 2 years in office        Centre invites 14 J&K leaders to attend all-party meeting on June 24        Tour de France to hold women''s cycling race in July 2022        Will always regret missing hundred on Test debut but will get one next time: Shafali Verma        Nadal, Osaka both out for Wimbledon; she'll go to Olympics        
Home   | Main News   | Kerala  | National   | International  | Business   | Sports   | Entertainment   | Columns   | Offbeat   | Health   | About Deepika 
Business News
Sebi comes out with guideline to verify upfront collection of margins
 
New Delhi: Markets regulator Sebi on Monday released framework to enable verification of upfront collection of margins from clients in cash and derivatives segments.

The new framework will come into effect from December 1, 2020, the Securities and Exchange Board of India (Sebi) said in a circular.

The regulator has reiterated that the applicable upfront margins will be collected from the clients in advance of the trade.

Sebi said clearing corporations will send minimum four snapshots of client wise margin requirement to trading member (TM) or clearing member (CM) for them to know the intra-day margin requirement per client in each segment.

It further said number of times snapshots need to be sent in a day may be decided by the respective clearing corporation depending on market timings subject to a minimum of four snapshots in a day. The snapshots would be randomly taken in pre-defined time windows.

For commodity derivatives segment, Sebi said last snapshot for commodity derivatives will be generated at 5 PM.

The client wise margin file provided by the clearing corporations to trading or clearing member will contain the end of the day (EOD) margin requirements of the client as well as the peak margin requirement of the client, across each of the intra-day snapshots.

The member will have to report the margin collected from each client, as at EOD and peak margin collected during the day, in a manner prescribed by the regulator.

EOD margin obligation of the client will be compared with the respective client margin available with the TM/CM at EOD and peak margin obligation of the client, across the snapshots, will be compared with respective client peak margin available with the TM/CM during the day.

With regard to penalty, Sebi said higher of the shortfall in collection of the margin obligations at the two prescribed manner will be considered for levying of fine.

The verification of availability of margins with TM/ CM will be done by exchanges or clearing corporations on a weekly basis by verification of the balances in the books or of the TM/ CM in respect of the client.

Sebi said peak margin obligation of client across snapshots will be adopted in a phased manner.

For three months from the date of implementation, Sebi said 25 per cent of peak margin obligation of the client across the snapshots will be compared with respective client peak margin available with the TM/CM during the day. This will be 50 per cent for subsequent three months and thereafter75 per cent for subsequent three months and finally 100 per cent.

It further said shortfall in collection of margins will be calculated by taking into consideration the phased adoption of peak margin obligation of client.

During the period of phased adoption, the member should be able to demonstrate that the balance peak margin obligation has been funded from the member's own funds and not from any other client.

In a separate circular, Sebi said it has modified the eligibility criteria for selection of underlying commodity futures for options on commodity futures.

The regulator has decided to do away with the requirement of "the underlying 'Futures contracts' on the corresponding commodity shall be amongst the top five futures contracts in terms of total trading turnover value of previous 12 months".

The decision has been taken on the basis of representations received from stock exchanges and stakeholders.


AIBEA to hold National Webinars from Jul 1 to commemorate 52nd anniversary of Bank Nationalisation
Union Bank of India inks MOU with NSIC to support MSMEs with credit requirements
Sensex rises over 200 pts in early trade; Nifty tests 15,750
India extends USD 100 million Line of Credit to Sri Lanka for solar energy projects
India's fuel demand rebounds in June
Power consumption grows 9.3 pc in first half of June
Diesel at Rs 100 mark in Rajasthan; Karnataka sees Rs 100/ltr petrol
Rupee slips 13 paise to 73.02 against US dollar in early trade
Disruption in operations may lead to demand uncertainty in home improvement categories: Asian Paint
Seven of top-10 most valued firms add over Rs 1.15 lakh cr to m-cap; RIL lead gainer
RBI projects retail inflation at 5.1 pc in FY22 on supply-side measures, monsoon
Mukesh Ambani draws nil salary
Urban Company raises USD 255 mn, valuation crosses USD 2.1 bn
Ashok Leyland expects plants to be operational only for up to 10 days in June
China's central bank tries to stop surge in currency's value
Google, Facebook updating website to reflect new grievance officer appointed under IT rules
SBI & IBA announces various support measures and launch of new loan products by all Public Sector Banks
Honda 2wheelers India resumes production at its plants across India in a phased manner
Working closely with Jio to build affordable smartphone: Google CEO Pichai
Canon celebrates 50th anniversary of its first Interchangeable Lens for SLR
KERALA NEWS
Kerala to implement tourism projects in time-bound manner: Riyas
 Thiruvananthapuram: Kerala will complete its tourism projects in a time-bound manner by giving top p  
Kerala govt orders SIT probe into ''illegal'' tree felling in Wayanad
LDF govt hand in glove with timber mafias, alleges Union Minister Muraleedharan
COVID-19:Kerala reports 14,233 new cases, 173 deaths
INTERNATIONAL NEWS
France elects regional leaders, preps for presidential vote
 Paris: Marine Le Pen's far right party is riding high on her tough-on-security, stop-immigration mes
Argentina reports first confirmed case of ‘Black Fungus’: Reports
Seven dead, 13 injured after plane crash-lands in Russia's Kemerovo region
Ebrahim Raisi elected Iran's new president
NATIONAL NEWS
Bengal plans more COVID beds for women amid third wave threat
 Kolkata: The West Bengal government is planning to allot more hospital beds for women as it prepares
Delhi eases COVID restrictions
MHA asks states, UTs to not lower guard, calibrated opening up of lockdown advised
PM congratulates LS Speaker Om Birla for completing 2 years in office
Untitled Page
Rashtra Deepika LTD
Copyright @ 2021 , Rashtra Deepika Ltd.