Fw: Payment of margins by clients for Derivatives segment

 

Dear Customer,

Sub.: Payment of margins by clients for Derivatives segment

Please note that SEBI vide its circular dated August 10, 2011 has directed Stock Exchanges to levy penalties on trading members for short collection / non-collection of margins from clients in Equity Derivatives and Currency Derivatives segments as below with effect from September 01, 2011. Copy of SEBI Circular is enclosed. 

'a'	Per day penalty as %age of 'a'
(<Rs 1 lakh) And (<10% of applicable margin)	0.5
(> or equal to Rs 1 lakh) Or (> or equal to 10% of applicable margin)	1.0

(where 'a' = Short collection / non-collection of margins per client per segment per day)

Further, penalty @ 5% of the shortfall amount shall be levied in case of short / non-collection of margins for a client for more than 3 consecutive days or for more than 5 days in a month.

All clients registered for F&O and / or Currency derivatives segment are therefore required to ensure to deposit necessary margins in their account with IIFL before placing an order in equity derivatives and / or currency derivatives segment.

Please note that any penalty imposed upon IIFL due to short / non-collection of margin from client, shall be recovered from the respective client due to whom there arises short / non-collection of margin by debiting the client's ledger account

If you require any clarifications or assistance, you may please contact your respective Relationship Manager or write to us at cs@indiainfoline.com or reach our Customer Care Desk at (022) 40071000.

Regards,

Loveena Khatwani
Head, Customer Service
IIFL