Zerodha Part 2

[newbie12345]

For #$@#$@#$ sakes, urge Omnesys to add a minimize button on NEST charts. One can't move charts outside the terminal. Least Omnesys can do is add a bloody minimize button.

 

[Zerodha]

Hi Sachin/Zerodha,
I sent a mail to [email protected], asking for the document .. you have mentioned here...as I had opened my account more than 1 year back.I got the reply as follows:

Hi,

This email is with regards to your query on Margin against stocks. Please note that every broker collects margins in the form of Cash, Collateral (Security), Bank Guarantees, Fixed Deposits. It is very normal for every broker to give margin to its clients for the securities held by the client in their demat account.

To be able to take collateral for your shares in DP, you have to sign the DIS (Delivery Instruction Slip) which was given to you at the time of account opening by IL&FS. Please mention the number of shares and then send it over to us and then we'll pledge them for you and offer margins as per exchange haircut values.

Let me give you a brief on how the whole process of collateral margin would work : The shares would move from your beneficiary account to our (Zerodha) beneficiary account through an Off- Market transfer which you to initiate and in turn these stocks would be moved to IL&FS margin account. IL&FS would then provide you margins against these shares after considering NSE VaR margins and your limit would be enhanced on your trading platform. Whenever you wish to not receive these margins, you can just send us a request to withdraw the securities held in IL&FS and we would inturn move them to your beneficiary account. The whole process would cost you Rs 120/- per line item regardless of the size of your transfer/scrip.

Please note that at all times you would continue to remain the owner of the securities that you have transferred and hence would be eligible for all corporate benefits, whatsover. Such corporate benefits would be passed on to you. Every broker does this as a value added service and not necessarily as a money making process. We understand that not all clients can bring in cash to trade and since securities are assets, we could give margin against such assets for the client to trade.

However there are some rules regarding the same which is explained below :

You would need to transfer the shares from your DP to our beneficiary account at IL&FS. As soon as the shares are transferred, you'll get margin against those shares after the exchange prescribed haircut. For example, if you have stocks worth Rs. 100,000 in your account and if the exchange prescribed haircut is 30%, then the actual cash value of your stocks will be Rs. 70000. However, if you want to utilize this Rs. 70000 as cash in your trading account, you need to have at least 30% of that value as actual cash (not stocks). This means that you need to have cash of around Rs. 25000 to utilize the entire margin benefit of Rs. 70000 against your stocks.

This means that at any time for you to utilise your margin against stocks, you need to have 30% of the total margin in terms of cash. All MTM losses if any will be considered from this cash margin available in your account.

Hope this clarifies. Please let us know in case you have any more queries.

Thanks,
Bharath


So can you pleas clarify?

When was this email sent?

Send an email out again today and you should have the document emailed to you..

 

[Zerodha]

For #$@#$@#$ sakes, urge Omnesys to add a minimize button on NEST charts. One can't move charts outside the terminal. Least Omnesys can do is add a bloody minimize button.

We have suggested this to Omnesys already,

A temporary fix,

If you have a big screen what can be done is you can resize the trading window and keep the charts outside the trading window..

@others, about transaction charges, yes it is comparatively higher to a few brokers, but there are brokers charging anywhere between 210 to 1000 per crore... The clearing member deal has various conditions and differs from one to another as mentioned earlier, this will probably be appreciated only when there is a 2008 kind of phase in the markets when a lot of broker terminals were shut down.. That said it is on it's way down and the next trench of reduction would happen in the next few months, most likely before the end of this financial year..

 

[Zerodha]

Check screenshots of SilverM and Crudeoil for 22-09-12 (Saturday) why some freak data is there after 13.59??
Please improve the data quality and other basic stuff before giving / trying to implement complex services.

Thanks for this info, we will try to have this fixed..

 

[sumosanammain]

We have suggested this to Omnesys already,

A temporary fix,

If you have a big screen what can be done is you can resize the trading window and keep the charts outside the trading window..

@others, about transaction charges, yes it is comparatively higher to a few brokers, but there are brokers charging anywhere between 210 to 1000 per crore... The clearing member deal has various conditions and differs from one to another as mentioned earlier, this will probably be appreciated only when there is a 2008 kind of phase in the markets when a lot of broker terminals were shut down.. That said it is on it's way down and the next trench of reduction would happen in the next few months, most likely before the end of this financial year..

Why end of financial year, even when NSE itself is reducing the charges by 50 %?

Am I right about this reduction of 50 %? Zerodha please clarify.
As for brokers having 1000 per crore as transaction charges, I am sure they must be having all of 20 clients, who must be complete fools to trade with them. I doubt these brokers have 2000 crores of turnover per day? Like you do?

If people still go to brokers that charge these kind of trxn charges, they deserve to be fleeced.

You cant say that X is charging so and so amount.

 

[Zerodha]

Why end of financial year, even when NSE itself is reducing the charges by 50 %?

Am I right about this reduction of 50 %? Zerodha please clarify.

When NSE reduces, that would be passed to you completely, whenever it happens..

50% by NSE is what has been indicated, but we will know only when it happens...

There is a very popular one who charges almost 900 and who has his ads everywhere on this forum.. ..

 

[sridhar]

I was using Zerodha platform off & on during the last 1 year learning the ropes of F&O trading. Have started serious trading from last 10 days & am making money in situations where I would have only paid out brokerage on other platforms. Have used Zerodha trader today & can intutively tell it is a better product compared to NOW. I have the following queries & suggestions:-

1. I will be taking buy positions in Options, either PE or CE. In such case is the MIS/NRML selection relevant? Atleast in NOW it was not allowing me to select MIS.

2. Your backoffice interface has improved over the past 6 months, but it has a complicated selection screen for many reports with a lot of buttons being redundant. Pls. get a good systems analyst to go over the logic & make it more intutive.

3. Accessing backoffice using non-IE browsers shaould be enabled.

4. There should be a system on your for recording bugs reporting & enhancement requests with tracking nos.

5. Do flesh up the FAQ's, particularly re. financials (margins etc.) & the platform commands.

6. Pls. ask Omnesys to improve chart windows handling. It would help if we can drag 2 windows outside of the main ZT window. Actually I am thinking of setting up a 2 monitor arrangement with charts on 1 monitor & trading window on another.

 

[vaibhavstr5]

This is discussion forum and not your email thread to broker. Many who knows answer to some query try help people, they do not need your approvals. Forum is about people who are doing trading as business, someone who look at it as serious way to make money. People spent years here to learn about industry, trading and many more. I gone thru all your posts, please show at least a single post by you where you given possible solutions, trading ideas, none.

looks like you reacted in the heat of the moment, did you not?

I did write a line in my previous post that helping hand from "clients" i.e. forum members is welcome but let the reply be official ie, from the broker's representative

below I've quoted the same for your reference

A helping hand from clients in addressing the queries is always welcome in the rush hour if Zerodha is not online but why not let Zerodha handle issues?

with your concluding line you are trying to justify that I had claimed that I've done great deeds for the members over here! what makes you assume things?

before you get it wrong once again, let me tell you clearly; I'm not questioning your helping nature if you have one(have not taken pains to go through posts) but please allow Zerodha to clear the issues/queries posted here.
Not all communication be done over email. at times you have got to make the issues public if not resolved.

But the sole right is still with you, of assuming, I mean

 

[vaibhavstr5]

@ Sachin
can we not have OI figures under VWAP statistics window in ZT?
for MCX it is not showing OI column at all. do not know about NSE on ZT as I've not yet migrated from NOW.

@ Zerodha/Sachin,

looks like you missed this post. awaiting your reply.

 

[Zerodha]

@ Zerodha/Sachin,

looks like you missed this post. awaiting your reply.

Presently the OI data is available on Snap quote. Exchanges don't really stream OI data. Always a delay and it is best to use it on an eod basis rather than intraday..

Will find out if we can have it on VWAP statistics as well..