Settlement of Running Account of Client’s Funds
What will be the mode of payment, while settling my account?
For the purpose of settlement of funds, the mode of transfer of funds shall be by way of electronic funds transfer, viz., through National Electronic Funds Transfer (NEFT), Real Time Gross Settlement (RTGS), etc.
Whether the securities pledged to Trading Member need to be unpledged while doing the settlement?
Excess securities (in the form of margin pledge/re-pledge) with a trading member (TM), clearing member (CM), or clearing corporation (CC), after adjustment of the 225% of the margin liability, need not be unpledged for the purpose of periodic ...
Handling of Fixed Deposit (FD) created on my behalf from ledger.
In the case of clients who have opted for fixed deposit from the ledger, any unutilized margin on the day of settlement payout will lead to liquidation of the FDR. The interest rate will be reduced based on tenor, and a prematurity penalty will be ...
Is the clause of Retention of Rs.10000/- still applicable?
The following clause, which was part of the RUNNING ACCOUNT AUTHORIZATION, is now redundant and not applicable. ‘I/we understand and authorize that you will not release the payout in case the balance after necessary retention is up to 10000/- or any ...
What is the value of funds that a broker can retain while doing the settlement?
In case a client has any open position on the first Friday of the month/quarter on which settlement of the running account of funds is scheduled, a broker may retain funds calculated in the manner specified below: 1) Entire pay-in obligation of funds ...
If I have not done any Exchange transaction in the last 30 calendar days but have an open position in the derivatives segment, will the credit balance be returned?
If the client has an open position in the derivatives segment, then the date of contract expiry or the date on which the position is closed may be treated as the last transaction date for the purpose of computing 30 calendar days for returning the ...
When will the funds in my account be settled?
SEBI in 2022 had mandated settlement of running accounts of clients’ funds on the first Friday of the quarter/month. If the first Friday is a trading holiday, then such settlement shall happen on the previous trading day. Exchanges have jointly ...