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Change in Collateral Policies to be in effect from 11th August 2022!

10 August 2022

6:00 PM

Pledge
Revision in Internal Policy

Kindly note that there have been changes in collateral policies that will be in effect from 11th August 2022. As per our new internal policy, the clients that opt for additional margins by pledging their holdings are required to note the following points:

1. The Clients that have pledged their holdings in FYERS will not be allowed to sell the same without unpledging. To be able to sell their pledged holdings, clients must follow the procedure below:

  • Clients must close the position/s to the extent of the margin utilized for the stocks that they wish to unpledge.
  • Unpledge the holdings through the  pledge portal (The unpledge will be done as per  these timings).
  • Once the unpledge is done, clients will be able to sell their holdings on the next trading day.

2. The clients must maintain a minimum of 50% in cash or cash equivalents of the total margin required to take any position/s.

3. If the clients are not maintaining the 50-50 Cash Collateral margins, they will be levied late payment charges at 18% p.a. (0.05% per day) on the debit cash balance in their trading account. For more details, refer to this article.  

The above measure has been undertaken to avoid the discrepancies arising from the pledged holdings.

To explore more details on pledge, check out our terms & conditions.

For any queries, kindly contact us.

 

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