How will the settlement be made in clien'ts account, in case he has not provided RAA to his broker?
1.In case client has not provided RAA to the Broker, client is required to make payment towards the purchases made latest by T+1 working days.
2.In case of sale transaction, payout towards the same shall be released to client within one working day of payout being received from the Exchanges, subject to margin, dues and charges payable by you to the Broker.
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What is Periodic settlement?
1.In case clients have given RAA, actual settlement of funds and securities is required to be done at least once in a quarter or once in a month as per the periodicity of settlement selected by client. 2. Clients can thus, while giving RAA, select ...
Does the regulator require the Running Account Authorization (RAA) to be updated?
No. Updation of RAA is not a mandatory requirement. You have an option of not updating RAA. In that case auto payout will be done in your account as soon as you are having credit in your account.
What is Running Account Authorization (RAA)?
Running Account Authorization (RAA) is an authorization given by you to the Broker to maintain funds and securities in your account held with the Broker and not release the same within one working day of the payout from the Exchanges. Based on the ...
How does settlement take place in Commodity?
Daily MTM will be cash-settled by exchange on T+1 basis i.e., next working day after the trading day. However in case of delivery, the settlement date may be five to seven days after the expiry as per contract specifications and Exchange rules. It is ...
What are auction Settlement Charges?
>1% Auction settlement charges are levied on auction rate. >In case of Market Auction, Auction rate are provided by Exchange and plus 1% Auction settlement charges is levied on the same. In case of Internal Auction, Auction rate are consider the buy ...