SEBI vide its circular SEBI/DNPD/Cir- 44 /2008 dated Dec 2nd, 2008 has decided to revise the existing facility of cross margining and to extend it across cash and derivatives segments to all categories of market participants.
This is to improve the efficiency of the margin capital’s use by market participants.
Cross margining benefit shall be computed at client level on an online real time basis. For institutional investors, however, the cross margining benefit shall be provided after confirmation of trades.
The positions of clients in both the cash and derivatives segments, to the extent they offset each other, shall be considered for the purpose of cross margining.
Wednesday, December 3, 2008
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