Finvasia

[Finvasia]

So if client already has enough funds to take delivery of the whole lot than you will let it expire in the money and have it delivered in client's demat correct? I guess so because you said you will reach out to client and ask him/her to transfer funds to you so you can have it delivered.

Hi @curiousv, We would advise to pay and update us well in time in case you plan for delivery. We do try to reach but in case we are not able to connect, RMS may close the positions as per policy. Thanks

 

[Finvasia]

will you be implementing the new margins for hedged option positions from 1 june as per the nse circular? also how would it work while placing orders? for a credit spread..do we execute the buy leg first n then sell leg?

Hi @kickass,
Yes, you can place spread order from NEST Order and Trade window, either execute buy leg or sell leg first. Both options are available. Thanks

 

[Finvasia]

Dear TJ Members,

Amid ongoing market volatility and in reference to the recent SEBI and Exchange circulars, we are updating our internal policy on Demat Accounts. It will be compulsory for all our existing clients, trading in Equity Futures & Options, to have a Demat Account. Further, all new clients will also need to have a Demat Account, either with us or with any other Depository to trade in the Equity Future & Options segment.

Existing clients will have the following options:

1. To open a Demat account with us: Log into Prism, open ticket section & click on OPEN DEMAT. You can open an online account using Aadhaar. In case you do not have an Aadhaar, please raise a ticket labelled “OTHERS” requesting for a call back and one of our executive shall assist you.

Or;

2. To upload your latest CMR from any other Depositary: Log into Prism, open the Ticket section, click on OTHERS and upload the latest CMR of your existing Demat account.

Please note that you must complete any one of the above process before 30 June 2020, failing which your trading account shall be temporarily put on hold until the above formalities are complete.

Thanks

 

[imurvrtrader]

I understand that demat is compulsory for those trading in Equity Futures & Options
but not for those trading in index F&O

Right !!!

 

[mbhardwaj82]

Bro, how will they stop in the trading app. I think, it for all clients who trade in NSE and BSE FO. Yes, MCX FO is exempted.

 

[curiousv]

Hi @curiousv, We would advise to pay and update us well in time in case you plan for delivery. We do try to reach but in case we are not able to connect, RMS may close the positions as per policy. Thanks

But if I already have enough funds to pay for the entire lot - do I still need to call you or inform you in advance that I want delivery?

 

[kickass]

Hi @kickass,
Yes, you can place spread order from NEST Order and Trade window, either execute buy leg or sell leg first. Both options are available. Thanks

The new margisn are not implemented on NSE NOW. according to NSE the new margin for credit spread should be 21k while you are deducting 1.14Lacs per lot. by when would you implement the new margins.?

 

[curiousv]

I have a question about CDSL easiest - when I try to use setup to transfer shares to you it shows - Users should note that Transactions with reason code “3” will be rejected, Kindly ensure NOT TO ENTER REASON CODE for transactions where at least one leg to the transaction is a CM Settlement Account or CC Account (transfer with CDSL transactions).

So does it mean we should not choose any reason code at all? in your video it shows we have to use reason code 8 for margin to stock broker/PCM? or for selling reason code 2 - for offmarket sale/purchase.

But instruction on cdsl website it shows don't use any code.

 

[S.TRADER]

@Finvasia Is there a maintenance going on? Why everything in my account is showing zero?

 

[Finvasia]

The new margisn are not implemented on NSE NOW. according to NSE the new margin for credit spread should be 21k while you are deducting 1.14Lacs per lot. by when would you implement the new margins.?

Hi, we have rolled out the new margin framework in ScalperT and NEST, however NOW and BEST did not go live as expected. Hence, there is a delay in offering additional margins on these softwares. We shall update once they confirm. Inconvenience regretted. Thanks