This has reference to ICCL circular no 20180124-21 dated January 24, 2018 which provided for alerts at different levels of MWPL utilization so that investors can take an informed decision on whether to hold or square off his existing positions well before regulatory / surveillance actions set in.
The mechanism was reviewed in a joint meeting between Stock Exchanges/Clearing Corporations and SEBI and it has been decided that, in Equity derivatives segment, additional exposure margins shall be levied on Derivatives contracts of those scrips wherein the top 10 clients account for more than 20% of MWPL. The scrips shall be identified under this framework based on 3 months rolling data and reviewed on monthly basis.
The applicable additional exposure margin on the identified scrip shall be at the rate of 15% over and above the applicable Exposure margin based on MWPL utilization.
This framework shall be effective from June 29, 2018, immediately the day after the expiry of June 2018 contracts.
In case of any clarification, please contact on 022-2272 8811.
Piyush Chourasia Rishikesh Tamaskar
Chief Risk Officer & Head – Strategy Dy. General Manager
ICCL Risk Department Surveillance
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