Notice No20181012-40Notice Date12 Oct 2018
SubjectAdditional Margins in Equity Derivatives Segment


In modification to the ICCL Circular dated September 25, 2018 on Additional Margins in Equity Derivatives Segment, ICCL would like to inform members that the revised Additional Margin framework shall be as follows:

Ø  Securities with Intra-day (High-Low) price movement of more than 10% in the underlying market for three or more days in the last one month shall be identified.

Ø  The securities thus identified, will be subject to a minimum total margin (SPAN Margin, Exposure Margin and Additional Margin) equalling the maximum intraday price movement of the security observed in the underlying market in the last one month.

Ø  The above mentioned minimum total margin shall be continued till the expiry date of derivative contracts which falls after completion of three months from the date of levy.

Ø  Additional margins levied shall be reviewed periodically.

This Circular shall come into effect from Tuesday, October 16, 2018.

In case of any assistance/clarification, please do not hesitate to contact us. 


 For and on behalf of Indian Clearing Corporation Ltd.


Piyush Chourasia

Chief Risk Officer & Head-Strategy

Risk Department


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