To
All Members/Participants,
In continuation to ICCL Circular No. 20220729-60 dated July 29, 2022, regarding Segregation and Monitoring of Collateral at Client Level - Penalty mechanism for EOD Short Allocation, wherein it was specified that members shall have an opportunity to report amount of client collateral available against segment wise short allocation.
In view of the same, the file formats to be considered for uploading the reporting to the clearing corporation is provided below.
The file shall be provided on a monthly basis on the 1st working day of the next month. The reporting shall be done within 4 working days from the date when the file is generated. For example, file for August 1st 2022 to August 31st 2022 shall be provided on September 1st 2022 and reporting for the same shall be accepted till EOD of September 7th 2022.
1. Short allocation report for Clearing / Trading Members
Clearing Members/ Trading Members will be provided with files for reporting of reasons for short allocation. The files will contain the following details:
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Trade Date
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Clearing Member code
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Trading Member Code
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Client Code
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CP Code
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Allocated Collateral (I)
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Margin Required (J)
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Short Allocation (K= J - I)
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Note: The Short Allocation figures in K will be after adjustment of excess collateral lying in other segments.
File format: CSV files
File Name:
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File name
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Member type
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SHORTALLOCATION_CM_CLGNO_DDMMYYYY.CSV
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CM
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SHORTALLOCATION_TM_CLGNO_DDMMYYYY.CSV
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TM
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2. Reporting to be done by Clearing / Trading member for short allocation:
The Clearing / Trading Members will be required to report the files to ICCL in the following format:
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Trade Date
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As provided in short allocation report (in point 1 above)
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Clearing Member code
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As provided in short allocation report (in point 1 above)
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Trading Member Code
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As provided in short allocation report (in point 1 above)
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Client Code
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As provided in short allocation report (in point 1 above)
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CP Code
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As provided in short allocation report (in point 1 above)
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Allocated Collateral (I)
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As provided in short allocation report (in point 1 above)
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Margin Required (J)
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As provided in short allocation report (in point 1 above)
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Short Allocation (K= I-J)
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As provided in short allocation report (in point 1 above)
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Reason Code*
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To be reported by Member
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Excess Collateral with NCL
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To be reported by Member
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Excess Collateral with MCCIL
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To be reported by Member
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Excess Collateral with MCXCCL
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To be reported by Member
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Excess Collateral with NCCL
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To be reported by Member
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* If reason code is updated as ‘01’ then the clearing member will also update the amount in the column pertaining to the respective CC.
Reason Codes
01 – Excess Collateral with other CC
02 – Value of securities sold for which EPI has been done by end of day to CC
03 – Trades done on behalf of NRI clients
04 – Trades executed for CP clients by trading members awaiting custodian acceptance (available only for TM’s)
File format: CSV files
File Name:
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File name
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Member type
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SHORTALLOCATION_CM_CLGNO_DDMMYYYY_NN.CSV
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CM
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SHORTALLOCATION_TM_CLGNO_DDMMYYYY_NN.CSV
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TM
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Note :
· Latest incremental no (NN) file to be considered for the respective member.
· Each batch should contain entire records with reason code, wherever applicable
3. Response file to Clearing / Trading member for short allocation:
Response to member will be provided in the following format:
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Date
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As provided in short allocation report (in point 1 above)
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Clearing Member code
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As provided in short allocation report (in point 1 above)
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Trading Member Code
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As provided in short allocation report (in point 1 above)
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Client Code
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As provided in short allocation report (in point 1 above)
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CP Code
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As provided in short allocation report (in point 1 above)
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Allocated Collateral (I)
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As provided in short allocation report (in point 1 above)
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Margin Required (J)
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As provided in short allocation report (in point 1 above)
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Short Allocation (K= I-J)
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As provided in short allocation report (in point 1 above)
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Reason Code
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As uploaded by Member in Short allocation report (in point 2 above)
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Excess Collateral with NCL
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As uploaded by Member in Short allocation report (in point 2 above)
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Excess Collateral with MCCIL
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As uploaded by Member in Short allocation report (in point 2 above)
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Excess Collateral with MCXCCL
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As uploaded by Member in Short allocation report (in point 2 above)
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Excess Collateral with NCCL
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As uploaded by Member in Short allocation report (in point 2 above)
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Response*
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S/R
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Reason*
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Reason will be given for rejected record
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*ICCL remarks as per reason code provided by member
· S stands for Successful import of record in the system
· R stands for Rejection of record
– Reason to be populated as below:
§ Incorrect reason code
§ Invalid file details
§ Invalid file format
§ Negative amount in file
File format: CSV files
File Name:
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File name
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Member type
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SHORTALLOCATION_CM_R_CLGNO_DDMMYYYY_NN.CSV
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CM
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SHORTALLOCATION_TM_R_CLGNO_DDMMYYYY_NN.CSV
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TM
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4. Penalty file to Clearing / Trading member for EOD short allocation:
File format for penalty on End of day short allocation report:
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Trade Date
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Clearing Member code
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Trading Member Code
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Client Code
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CP Code
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Allocated Collateral (I)
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Margin Required (J)
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Highest intraday peak margin short reported (K)
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End of day short margin reporting (L)
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End of day short allocation of amount (M= J-I)
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Filler (N)
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Final Shortfall (O = Max (K,L,M,N))
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Penalty amount excluding GST (P=O*Penalty %)
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File format: CSV files
File Name:
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File name
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Member type
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SHORTALLOCATION_PNLCM_CLGNO_DDMMYYYY.CSV
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CM
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SHORTALLOCATION_PNLTM_CLGNO_DDMMYYYY.CSV
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TM
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In case of any clarifications, members may contact their respective Relationship Managers or below mentioned contacts:
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Clearing & Settlement Dept. for operational aspect
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+91-22-2272 8881/5648/8185/8843/8567
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ops@icclindia.com
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Membership & Inspection Dept. for compliance aspect
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+91-22-22728365/8788/5075/5744
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iccl.membership@icclindia.com
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For and on behalf of Indian Clearing Corporation Ltd.
Roanna Lewis Hitesh Shah
Sr. Manager Dy. General Manager
Membership & Inspection Post Trade
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