FYERS

[Tejas Khoday]

@Tejas Khoday With respect to physical settlement, would a trader need to have the full contract value in their account in cash even if they have, for instance, vertical spreads in options where the buy & sell quantity offsets?

Yes, it is required because offsetting positions are not considered. In fact, you will need full margins for both contracts. Kindly note that physical settlements are happening for the first time in India. So let's wait and watch how things evolve. As a risk management policy, we will be squaring off positions a few days beforehand.

 

[Tejas Khoday]

With MCX being supported soon, will you guys start to have continuous contract chart support in Fyers web soon?

We'll definitely work on it soon.

 

[Tejas Khoday]

I am posting here in thread and I am getting no replies.
In Fyers web when we open Renko chart it default opens with ATR settings. If we try to change it to traditional with fixed box size, the TV shows a default box size of 0.05 and due to auto load feature it tries to load reko chart with this tiny box size. And this hangs the platform altogether.Apart from increasing the computational loads on the TV it also wastes valuable time of customers.

Hi, if you change the Box Size Assignment method to Traditional, the default box size is 3. However, if you have changed it to 0.05, (A very small size), the platform has to re-adjust the chart accordingly which takes some time. This is natural. It freezes for a few seconds to compute and graphically represent the data on the chart. Currently, this is the best we can do.

 

[Tejas Khoday]

@Tejas Khoday I came to know from your support that in BO, the STOP and STOP-LIMIT orders are not yet enabled!!

When are you planning to enable these features?

This feature is very important for me. So request you to enable this asap.

Hi @gandavadi, You're referring to the Leg 1 entry right? Yes I have mentioned it in our latest post on Brainstorm. We will introduce it in phase 2.

 

[Tejas Khoday]

Hi,

yesterday my A/c open with Fyers, so tried my hands on Fyers Web.
I plotted VWAP indicator on 5 -min Axis Bank and surprise to see, it was showing wrong values.
today checked with Live mkt as well and it is still showing wrong values.
@Tejas Khoday can you please look into it.

Chintan

Hi Chintan, please send us screenshots with timestamps. We will look into it.

 

[Tejas Khoday]

IL&FS has been downgraded to junk status by ICRA. This includes IL&FS Financial Services as well which is downgraded to non-investment grade. Since Fyers has demat services through IL&FS, what are the risks to demat holders now? I know that CDSL holds stocks but I reckon IL&FS still has a role to play. This news topic needs to be addressed since it could directly affect those who buy-and-hold stocks through Fyers/IL&FS.

News 1: What’s At Risk For Insurers, Pension Funds After IL&FS Downgrade
https://www.bloombergquint.com/busi...r-insurers-pension-funds-after-ilfs-downgrade

News 2: This Debt-Hit Group Is Behind India's Own Mini-Lehman Moment
https://www.ndtv.com/business/opini...up-gives-india-its-mini-lehman-moment-1916090

@natjay, Finally someone spoke out about it and I appreciate your concerns. We are very well aware of the fact that IL&FS has either gone bankrupt or is in the process of going bankrupt. We are always cautious when it comes to risk management and we have been taking ultra-precautionary measures to avoid any sort of risk to our clients or us. We double-check everything we do with them and the process of settlements is verified on a daily basis. So we're good and they don't pose any default risk to us at the moment. But the good news is that IndusInd Bank has acquired IL&FS Securities Services! This is the same company that we are associated with. The buyout transaction was in the pipeline since last year and we knew that it was just a matter of time before they get taken over. Their securities division has been performing well and to our knowledge, their compliance requirements were very high & bureaucratic. The acquisition is successful, some of the old management has quit and it's going to be a new beginning for the company. Please note, that the fact that IndusInd Bank has acquired IL&FS is an indication that the operation within the company was straightforward and honest without any scams or debt traps.

Hope this clarifies.

 

[superman]

@natjay, Finally someone spoke out about it and I appreciate your concerns. We are very well aware of the fact that IL&FS has either gone bankrupt or is in the process of going bankrupt. We are always cautious when it comes to risk management and we have been taking ultra-precautionary measures to avoid any sort of risk to our clients or us. We double-check everything we do with them and the process of settlements is verified on a daily basis. So we're good and they don't pose any default risk to us at the moment. But the good news is that IndusInd Bank has acquired IL&FS Securities Services! This is the same company that we are associated with. The buyout transaction was in the pipeline since last year and we knew that it was just a matter of time before they get taken over. Their securities division has been performing well and to our knowledge, their compliance requirements were very high & bureaucratic. The acquisition is successful, some of the old management has quit and it's going to be a new beginning for the company. Please note, that the fact that IndusInd Bank has acquired IL&FS is an indication that the operation within the company was straightforward and honest without any scams or debt traps.

Hope this clarifies.

Thanks for the clarification.

There are rumors that IL&FS / Indus Ind bank might close the retail demat which is done via many brokers ? If that happens, we need to move again to other DP . Is it true? If yes, will Fyers open their own DP with either NSDL/CDSL

 

[Tejas Khoday]

Thanks for the clarification.

There are rumors that IL&FS / Indus Ind bank might close the retail demat which is done via many brokers ? If that happens, we need to move again to other DP . Is it true? If yes, will Fyers open their own DP with either NSDL/CDSL

At the heart if the issue is the fact that IL&FS demat AMC collection system was not good enough. They keep pressuring us to focus on collections on their behalf as well (Although it is neither our demat account or our job). I believe IndusInd Bank has their own plans with regards to this. They will not close it but they may make few changes. I will reveal it to you when there is more clarity on the subject. Becoming a Depository Participant (DP) will take time but we are going to apply down the line.

But all said and done, the Securities Arm of IL&FS has been compliant and sometimes over compliant too. Their group companies have faltered but the Securities division was good to the best of my knowledge. In any case, our dealings with them are through a dual channel which is overseen thoroughly to avoid any clearing and settlement risks.

 

[raoshahb]

What is the margin requirement if I sell this month NTPC future and buy next month future?

 

[Tejas Khoday]

What is the margin requirement if I sell this month NTPC future and buy next month future?

Approximately <₹20,000. Since this is a spread position, you will get a SPAN margin benefit from the exchange.