Finvasia

yes today working fine.
 
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Dear TJ Members,

Based on the SEBI circular, following changes shall be implemented effective from tomorrow 1st September 2020

Closure of CCA account for margins:
Based on the new system, brokers shall return all the shares available in their CCA account to client’s Demat account. For additional limits against collateral, new pledge system shall be used. So, no need to transfer shares to Broker CCA account. We shall return back all the shares in CCA account today. In case you have utilized margin, we shall ask you to fund the account today online.
Alternatively, tomorrow you need to deposit and share copy of margin short amount as cheque with today’s date (31 Aug 2020) before 1 PM else the position shall be squared off before market close tomorrow. The deposit receipt must be sent to [email protected]

Pledge of Shares
In case client wants to get limits against collateral, they need to pledge the shares in favour of TM/Clearing Member. It can be done using CDSL Easiest. Here is the link to know the process

“How to Pledge Shares via Easiest | Finvasia”

Please NOTE
  • Shares pledged before 4 PM shall be available for limits on the next working day.
  • Make sure you select Exchange as “NSE” and Segment as “All Segments” during pledge.
  • If you have pledged the shares, you need to un-pledge the shares before selling.
  • Client should have POA active to get limits on the pledged shares.
  • Client can use DIS and/or give POA to sell the shares. In case the POA is active, client will be able to see and sell the shares from the trading application.
  • Pledge shares will not be visible in trading application. You can check in our Back office or Easiest.
Why POA:
In case, you sell the shares, we need POA to transfer shares from your Demat account to Exchange Pool account directly for trade settlement. Also, in case the account gets debit due to any MTM loss, we need to sell the shares on T+5. So, POA is must to avail pledge services.

Un-pledge
You can request to unpledge the shares in Easiest as well.
Shares un-pledged before 1 PM shall be available on next working day for selling or transfer.

Revised charges
Pledge: Rs 20 Plus GST per transaction
Un-pledge: Rs 20 Plus GST per transaction

Margin for BUY & SELL inCash segment
To buy shares in MIS, exchange VAR margin shall be applicable on upfront basis. To know the margin, visit Margin Calculator https://www.finvasia.com/calculators

To buy in CNC, full margin is required for delivery.
To sell from your Demat account, there will be no need to have additional upfront 20% cash margin.
If client sells on T day, there will be no margin to purchase from the sold shares value on T day and T+1 Day both. Clients can only use funds on T+2 day.
Also, no fresh buying on the realised profit on T Day

Margin for BUY & SELL inDerivative segment
There shall be no change in margins to buy and/or sell in derivative trading such as FO, CDS, MCX and NCDEX.

REMEMBER
If you sell Shares, you cannot buy anything on T Day
If you sell Futures, you can buy back Futures and Options buy & Sell on T day
If you sell Options, you can only buy options on T day

Regards
Hi Finvasia Team,

Could you please address the below questions?:

1) Do we still have to submit the POA to get limits on the pledged shares. As per the New SEBI Rules for PLEDGING / COLLATERAL MARGIN System, we no need to submit a POA to get the margin from pledging scripts. Could you please provide a link where can I refer that Client has to submit the POA to get the margin towards pledging.

2) Do I need to maintain the Cash to collateral ratio at 50:50. In layman's terms, if i have collateral margin of 10 Lakhs, do I need to maintain the 10 lakhs cash in my trading account in order to trade with collateral margin? Is there any charges/interest if the 50:50 Cash to Collateral is not maintained? or Can I take F(B&S)&O(selling) overnight positions with 10 Lakhs collateral margin alone?
 

Finvasia

Well-Known Member
Hi Finvasia Team,

Could you please address the below questions?:

1) Do we still have to submit the POA to get limits on the pledged shares. As per the New SEBI Rules for PLEDGING / COLLATERAL MARGIN System, we no need to submit a POA to get the margin from pledging scripts. Could you please provide a link where can I refer that Client has to submit the POA to get the margin towards pledging.

2) Do I need to maintain the Cash to collateral ratio at 50:50. In layman's terms, if i have collateral margin of 10 Lakhs, do I need to maintain the 10 lakhs cash in my trading account in order to trade with collateral margin? Is there any charges/interest if the 50:50 Cash to Collateral is not maintained? or Can I take F(B&S)&O(selling) overnight positions with 10 Lakhs collateral margin alone?
Hi @d5489367! As per our company's policy, to maintain the operational efficacy by minimising the risk, POA is mandatory to get limits on the pledged shares. Also, currently there is no such restriction to maintain 50:50 cash to collateral ratio and no penalty will be charged on non-maintenance of the same. You can take overnight position in FnO with the stated margin. Please feel free to reach out to our support for any further query. Regards
 
Hi @d5489367! As per our company's policy, to maintain the operational efficacy by minimising the risk, POA is mandatory to get limits on the pledged shares. Also, currently there is no such restriction to maintain 50:50 cash to collateral ratio and no penalty will be charged on non-maintenance of the same. You can take overnight position in FnO with the stated margin. Please feel free to reach out to our support for any further query. Regards
Thanks for the clarification. On Collateral front: If i have Collateral margin of 10 lakhs, then i can use 10 lakhs margin for option selling and for futrues(I just need to maintain the cash to cover daily MTM settlements)..I No need to maintain 10 lakhs in cash to match Collateral margin of 10 lakhs... I assume as long i maintain the cash to cover the daily MTM for futures, then I will not get any charges as penalty.. Please confirm and correct if my understanding is wrong.
 

Infooo

Active Member
Probably the only broker which ask client to square off position a week before expiry... Now with ICICI direct providing zero brokerage future trading through Neo plan.. clients would start saying bye bye due to your policies
 

Finvasia

Well-Known Member
Thanks for the clarification. On Collateral front: If i have Collateral margin of 10 lakhs, then i can use 10 lakhs margin for option selling and for futrues(I just need to maintain the cash to cover daily MTM settlements)..I No need to maintain 10 lakhs in cash to match Collateral margin of 10 lakhs... I assume as long i maintain the cash to cover the daily MTM for futures, then I will not get any charges as penalty.. Please confirm and correct if my understanding is wrong.
Yes, that's correct! and penalty will be charged only in case of debit or short margin. Please feel free to reach out to our support for any other query. Thanks
 
shoonya again seems goes in shoonya. Kindly suggest low cost reliable broker. otherwise my all capital will soon go in shoonya.
 
Sir, After 3pm, I am unable to login Shoonya Mobile App. Luckily I cleared my positioon before that. Otherwise, what might be happened, I don't know.
I face the Crashing daily. But today, its worst.
Finvadia, Please do sonething.