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Client Margin Reporting


Members are required to collect initial margins from their client/constituents on an upfront basis. It is mandatory for all clearing /trading members to report details of such "Margins" collected to the NSE Clearing in accordance with the procedure and formats specified hereunder or as may be specified by the NSE Clearing from time to time:

The "Margins" for this purpose shall mean initial margin, extreme loss margin (ELM), mark to market margin, special / additional margin, delivery margin or any other margin as prescribed by the Exchange to be collected by member from their clients.

The members are required to collect upfront initial margins from their clients. The members will have time till 'T+2' working days** to collect margins (except initial margins) from their clients.

**(The clients must ensure that the initial margins are paid in advance of trade and other margins are paid as soon as margin calls are made by Exchanges/Members. The period of T+2 days has been allowed to members to collect margin from clients taking into account the practical difficulties often faced by them only for the purpose of levy of penalty and it should not be construed that clients have been allowed 2 days to pay margin due from them.)

The members shall report to the Exchange on T + 5 day the actual short -collection/non-collection of all margins from clients.

The cut off day up to which a member may report client margin details to the NSE Clearing is referred to as the sign off date. It shall be 5 working days after the trade date i.e. members are allowed to upload client margin reporting file up to T+5 working days.

Non-reporting/ non-submission of client margin:

All instances of non-reporting of client margins by the members shall be treated similar to and as 100% short reporting of client margins and accordingly penalties shall be imposed

Updated on: 19/02/2020 12:00
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