Dear Members,
This is partial modification to the ICCL circular dated October 12, 2018 on Additional Margin in Equity Cash Segment. As discussed in the joint meeting between, SEBI, Exchanges and Clearing Corporations the levy of additional margins shall be modified as under:
· For securities where derivative contracts are available and have an Intra-day (High-Low) price movement of more than 10% for 10 or more days in last six months; the minimum total margins (VAR, Extreme Loss Margin and Additional margin) shall be equal to the maximum intraday price movement of the security observed in last six months.
· The above mentioned minimum total margins shall be continued till expiry date of derivative contracts which falls after completion of one year from date of levy.
This Circular shall come into effect from December 26, 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
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Risk Department
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Email
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risk.iccl@icclindia.com
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Contact No:
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+91-22-22728759/8811
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