Notice Board

Revised Intraday Leverages w.e.f 1st December 2020 on account of Peak margin – Phase 1 Implementation

By 30/11/2020 No Comments

As we are aware that with effect from 1st December 2020, SEBI’s new Margin Policy Framework to Enable Verification of Upfront Collection of Margins from Clients in Cash and Derivatives segments is being implemented. You can read the Circular dated 21st July 2020 here – SEBI/HO/MRD2/DCAP/CIR/P/2020/127

The following changes have been made with regards to the implementation of the said circular:

Revised Leverages for Intraday, Cover Order, and Bracket Order.

Instrument Leverage
Equity
Intraday 1. 3x of VAR+ELM leverage for F&O Stocks
2. 2x of VAR+ELM for Non-F&O Stocks (Nifty 500)
3. Maximum leverage of upto 18x
BO/CO 1. Only for F&O Stocks
2. 4x of VAR+ELM
3. Maximum leverage of upto 20x
Futures
Index Futures
Intraday 4x of SPAN+Exposure
BO/CO 4x of SPAN+Exposure
Stock Futures
Intraday 3x of SPAN+Exposure
BO/CO 3x of SPAN+Exposure
Commodity Futures
Intraday 3x of SPAN+Exposure
BO/CO 4x of SPAN+Exposure
Crude Oil BO/CO 4x of SPAN+Exposure
Option Selling
Index Options
Intraday 3x of SPAN+Exposure
BO/CO 3x of SPAN+Exposure
Stock/Commodity Options
Intraday 3x of SPAN+Exposure

For more details, you can visit our Margin Calculator.

Important Points to be Noted:

  • Only 80% of the CNC sale proceeds will be available to the clients during the day and the remaining 20% will be blocked for meeting the peak margin requirements.
  • All the Realized Profits will be blocked until settlement (i.e., Clients will be not able to use the realized profit for taking new positions, until the settlement). Settlement happens in T+1 day for F&O and  T+2 days for Equity.

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