Is ASM different from regular margin?

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• What is Additional Surveillance Margin (ASM) for F&O Derivatives segment?

  ASM is an additional margin levied by Clearing Corporations (NSCCL/ICCL) as part of enhanced risk management and surveillance measures to safeguard against extreme market volatility.

• Is ASM applicable intraday or positional?

  ASM is primarily assessed on the overall portfolio risk, and may apply depending on positions carried and margin availability.

• What is margin shortfall / limit issue?

  Margin shortfall occurs when you hold onto positions in your trading account without having a sufficient margin. It's different from the actual account balance. Penalties are levied on margin shortfall

• Whether I can square off the position in one segment during the day and use the same margin, released due to square off the position, in different segments on same day?

  Yes. Based on the margin availability, client can avail exposure in different segments at different time. However, maximum exposure given across segments are not exceeding the margins available.

• Is ASM applicable permanently?

  ASM applicability depends on regulatory framework and market conditions. It may be modified or withdrawn as per instructions from Exchanges/Clearing Corporations.