Finvasia

[curiousv]

Yes, transferred today only.

Hello, you said you transferred to their CCA and got margin (after haircut) may I know do they charge any interest for such margin (against collateral?) if yes how much?

 

[curiousv]

It is corporate collateral account of FINVSIA, this pool account will be used for margin against collateral shares. Now shares won't be retained by FINVASIA in pool account. Shares will be transferred to own BO account in T+2 days. If anyone need margin against shares, then he needs to transfer shares from BO (Demat) to CCA pool.

Now finvasia will keep those stock that are transferred to them for margin.

May I know if they charge any interest for margin against collateral (shares) if yes how much interest per year or per day?

 

[curiousv]

Hi @curiousv, After recent SEBI circular, clients need to transfer shares to the Broker CCA account to get margin against stocks/collateral. Only shares which are transferred by the client from their DP a/c to the Broker CCA a/c shall be considered to pledge. Broker cannot directly pledge any shares without client’s prior approval. SEBI assures each client a max total deposit of INR 10 Lakh including cash and any collateral.

Are you referring to NSE investor protection fund - You said sebi assures 10 lakh? did u mean NSE protection fund?
https://www.nseindia.com/invest/investor-protection-fund-trust

The broker may pledge these shares in favour of NSCCL and get the additional trading margin which is then passed on to the client. Stocks, Nifty bees can be used for additional margin. Brokers cannot directly pledge the shares to NBFC.

When you provide margin funding against shares either pledging in favor or NSCCL or provide your own funding ..do you charge any interest ..if yes how much interest you charge?

 

[Vmaster369]

Can you look in ticket number
Ticket Number: 1587276096187

Been 2 week now how long does segment activation takes ? zzzz

and mcx and F&0 trading from same ledger possible / account/funds or i will need to
trasfer funds insepearte account ? i know few brokers allows trading from same .

 

[TraderRavi]

May I know if they charge any interest for margin against collateral (shares) if yes how much interest per year or per day?

They do not charge.

Can you look in ticket number
Ticket Number: 1587276096187

Been 2 week now how long does segment activation takes ? zzzz

and mcx and F&0 trading from same ledger possible / account/funds or i will need to
trasfer funds insepearte account ? i know few brokers allows trading from same .

same ledger for both NSE/MCX.

 

[VINODFINANCIAL]

Hi,
Again the same query on 1587368768256 Ticket number - the demat opening is pending for more than 3 weeks and the same for account reactivation. - Can some one in the team look and close this?

Thanks,
Vin

 

[Finvasia]

Can you look in ticket number
Ticket Number: 1587276096187

Hi @Vmaster369, we have passed your request to the concerned team and they'll get back to you at the earliest. Thanks

 

[Finvasia]

Hi,
Again the same query on 1587368768256 Ticket number - the demat opening is pending for more than 3 weeks and the same for account reactivation. - Can some one in the team look and close this?

Thanks,
Vin

Hi @VINODFINANCIAL, We'll have one of our executives get in touch regarding the issue. Thanks.

 

[Finvasia]

Hello Finvasia,
Have couple of questions.
1. I am asking about option selling - On zerodha website and on internet-
https://www.topsharebrokers.com/article/margin-against-share/31/

I read that SEBI mandates 50% margin should come from cash for option selling and remaining 50% margin can come from funds received against your collateral.

Is this true for all brokers (i.e. is it required by SEBI )
For example I am short selling nifty and lets say total (span +exposure) margin required 80k
Out of this 40k must come from client's cash and 40k can come from fund he received form broker against his collateral (for example his shares) I am checking with you if it is true?
Or it depends on broker? what is your policy on this ?

Hi @curiousv, It depends on the broker and we advise for 50% cash. In case of option selling, you need to clear your debit balance within 5 days else your shares may be sold on 5th day as per SEBI guidelines.

Please clarify for both MIS and NRML.

You can use for MIS and NRML.

2. Also, somewhere I read that when you provide money against client's shares - you don't charge any monthly or yearly interest or any fees ...can you please confirm if this is true?

When you say money against client shares, we understand you are referring to intraday margin against shares. We do not charge any interest if you need margin to trade intraday. Thanks

 

[Finvasia]

If broker goes rogue/bankrupt are investors protected up to 10 lac per broker by NSE investor protection fund?

Yes, that is correct.