The collection of the pay in, margin is done at HO level.
All amounts are accepted only in the form of Account Payee Cheques and in no case cash is accepted from any client.
All the cheque received from the clients are entered in the back office system only after verification of bank particulars available with us.
In case any cheque is deposited directly by the client to the Company`s Bank account without submitting necessary supporting same shall be treated as third party cheques and shall be credited to Client Suspense Account and client will not be allowed any exposure on such cheques till the time client submits necessary supporting documents.
All the third party cheques shall be credited into clients suspense account and the clients are asked to take the payment back for these cheques.
The company have a RMS Team which is responsible for setting up of Client wise Trading limits as prescribed below :
Limits are allowed to the clients as per margining norms of the relevant exchanges. Client is required to provide upfront margin in the form of funds / securities (after appropriate haircut as prescribed by Exchange from time to time) before punching any trade.
First Margin call will be given as soon as the MTM Loss reaches 50 % of the Total Available Margin and client will be asked to submit fresh margin or reduce the positions and the client will be in square off mode until he provides fresh margin or his MTM comes below 40% of Free Balance.
Second Margin call will be given when MTM Loss exceeds 65% of Available Clear Balance and if client does not bring in fresh margin or reduces his exposure himself before MTM reaches 80% of clear balance his positions will be squared off without further notice.
For this purpose calls to be made on registered Mobile No / emails sent to registered email addresses/ fax sent of registered fax no. shall be treated as valid delivery of margin calls.
In case of Square off of the positions best efforts to be made to leave open positions to the extent that could ordinarily be carried forward as per Exchange norms on the available free balance after setting aside the MTM Loss for the day till 3.00 p.m..
While closing out, the positions with highest margin/highest MTM Loss will be closed off first.