Dear TJ members,
We are very much available and closely reviewing all the feedbacks shared. So, thought to quickly share on few suggestions
1. Implementation of Shoonya: Change is always challenging but is one of the potential ways to move forward. There have been various internal policy changes with NEST and our priority is always to offer the possibly best trading platforms to our clients. There may be some features which are different from the legacy system but we are planning to add more and more features in the near future. We genuinely extend our gratitude to all the members for sharing their thoughts and assure to keep customizing in the possible time-frame. So, we would once again, advice our clients to continue using the apps as we focus on the product development.
2. eDIS : We fairly agree and assure that it won’t take long to implement this. We don’t mind to accept that it is delayed than expected yet we plan to go live on this at the earliest possible.
3. Margins : Currently we are in the middle of various compliances to be implemented specially the hedging margins and peak reporting margin. We would like to keep fair balance between clients expectation (or we can say, how it has been happening in the industry since a long time) versus recent guidelines from regulators. We would make all possible efforts to pass the benefits to clients. There are never any intentions to ask for additional margin. Lets discuss about an example
a. Buy high margin Future first (example Nifty has Rs 1.56 L) and low margin option trade (Nifty Put buy premium Rs 7500) later: In this case, generally margin for future is higher. Since you trade future first, system shall check for the higher margin (as required for peak margin reporting) and you can trade option with low margin. Once both trades are executed and due to hedge margin benefit, system shall only block 30,000 and release balance. There is generally no issue.
b. Low margin first (say Option trade) and then high margin trade (say Future trade): In this case, the second leg (Future trade) needs higher margin and historically there was no issue since there was no intraday peak margin reporting. In the current situation, since you entered low margin (Option trade) first, we are asking for full margin for second leg (Future trade) which is higher than hedged margin (as per exchange on the trade level). We are working on it but currently, you need to have margin at trade level and not order level.
The challenge is when you buy low margin first and high margin later. It is expected that system should ask for hedged margin and not full high margin when you enter the second leg (Future trade). The issue is if you exit low margin trade first (say Options) while closing the position. When you exit low margin trade, your open position needs high margin (Future trade) for peak reporting. If you do not have enough margins for the high margin (say Future) trade at the time of entering the trade, you shall be reported for short margin penalty since full margin was not asked when you entered the trade. Hope this shall explain the current limitation as we get more clarification from the compliance and regulators in certain case.
We are working to prioritize the features based on the number of feedbacks received while tagging @ShoonyaApp. Please feel free to reach us for any more clarifications.
Regards