Peak Margin

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Sub: Introduction of Peak Margin

With reference to SEBI circular reference number SEBI/HO/MRD2/DCAP/CIR/P/2020/127 dated 20th July 2020, Peak Margin would be introduced in Equity, Commodity & Currency segment from 1st December 2020.

Following are the guidelines for collection of upfront margin from clients in Cash & Derivative segment: –

1. SEBI circular Exchanges/ Clearing Corporations have mandated trading members to collect applicable margins from their clients/ constituents in advance of the trade for all the segments i.e. Equity, Commodity &Currency.

2. MOFSL shall have to report the margin collected from each client for EOD as well as Peak margin during the day, in the following manner: a) EOD margin obligation of the client shall be compared with the respective client margin available with the Trading Member (TM)/Clearing Member (CM) at EOD. AND b) Peak margin obligation (Highest) of the client, during the day, shall be compared with respective client peak margin available with the TM/CM during the day. Higher of the shortfall in collection of the margin obligations at (a) and (b) above, shall be considered for levying of penalty as per the extant framework

3. The above framework will be prescribed in the phased manner as below

• Phase 1 (for 3 months from the date of implementation) – 25% of (Peak margin obligation of the client) shall be compared with respective client peak margin available with the TM/CM during the day.

• Phase 2 (for subsequent 3 months) – 50% of (Peak margin obligation of the client) shall be compared with respective client peak margin available with the TM/CM during the day.

• Phase 3 (for subsequent 3 months) – 75% of (Peak margin obligation of the client) shall be compared with respective client peak margin available with the TM/CM during the day.

• Phase 4 (subsequently) – 100% of (Peak margin obligation of the client) shall be compared with respective client peak margin available with the TM/CM during the day.

4. In cash market the peak margin will be applicable till T+2 till payin for the delivery positions.

5. Peak margin file will be sent by exchanges 4 times in a day at random time schedule, the maximum margin in any of the these files will be considered as peak margin for the day and margin will have to be complied based on the peak margin or EOD margin which is higher.

6. Please find below example of how Peak margin would be calculated:-

Case 1PEAK MarginEOD Margin
Peak-1Peak-2Peak-3Peak-4
Cash100002000030000200000
EQ Derivative0000
Currency Derivative0000
Commodity Derivative0000
Peak Reportable Margin300000
Reportable Margin as per 1st Phase75000
Available Balance50000 
Shortage0 
Case 2PEAK MarginEOD Margin
Peak-1Peak-2Peak-3Peak-4
Cash10000200003000002000040000
EQ Derivative0000
Currency Derivative0000
Commodity Derivative0000
Peak Reportable Margin300000 
Reportable Margin as per 1st Phase75000 
Available Balance50000 
Shortage-25000 
Case 3PEAK MarginEOD Margin
Peak-1Peak-2Peak-3Peak-4
Cash1000020000200001000090000
EQ Derivative50000500008000070000
Currency Derivative50003000007000
Commodity Derivative0000
Peak Reportable Margin100000 
Reportable Margin as per 1st Phase25000 
Available Balance50000 
Shortage-40000 
Case 4PEAK MarginEOD Margin
Peak-1Peak-2Peak-3Peak-4
Cash1000020000500001000056000
EQ Derivative10000500004000070000
Currency Derivative50000800020005000
Commodity Derivative100000000
Peak Reportable Margin170000 
Reportable Margin as per 1st Phase42500 
Available Balance50000 
Shortage-6000 
Case 5PEAK MarginEOD Margin
Peak-1Peak-2Peak-3Peak-4
Cash100004000050000200000
EQ Derivative50000000
Currency Derivative0000
Commodity Derivative0000
Peak Reportable Margin600000
Reportable Margin as per 1st Phase150000
Available Balance50000 
Shortage0 
Case 6PEAK MarginEOD Margin
Peak-1Peak-2Peak-3Peak-4
Cash100002000020000070000900000
EQ Derivative50000500008000010000
Currency Derivative0000
Commodity Derivative0000
Peak Reportable Margin280000 
Reportable Margin as per 1st Phase70000 
Available Balance50000 
Shortage-40000 
Case 7PEAK MarginEOD Margin
Peak-1Peak-2Peak-3Peak-4
Cash1000020000500001000040000
EQ Derivative1000050000400070000
Currency Derivative50000800005000
Commodity Derivative0000
Peak Reportable Margin85000 
Reportable Margin as per 1st Phase21250 
Available Balance50000 
Shortage0 
Case 8PEAK MarginEOD Margin
Peak-1Peak-2Peak-3Peak-4
Cash100002000050000100000
EQ Derivative1000050000400070000
Currency Derivative500008000020005000
Commodity Derivative100000000
Peak Reportable Margin170000 
Reportable Margin as per 1st Phase42500 
Available Balance50000 
Shortage0 

ATTENTION INVESTORS:-

  • Prevent Unauthorized Transactions in your Trading / Demat account --> Update your Mobile Numbers / email IDs with your Stock Brokers / Depository Participant. Receive alerts on your Registered Mobile / email IDs for trading account transactions and all debit and other important transactions in your demat account directly from Exchange / CDSL on the same day ......................Issued in the interest of Investors.
  • KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not to undergo the same process again when you approach another intermediary.
  • No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorize our bank to make payment in case of allotment. No worries for refund as the money remains in investor's account..
  • Stock Brokers can accept securities as margin from clients only by way of pledge in the depository system w.e.f. September 01, 2020.
  • Update your email id and mobile number with your stock broker / depository participant and receive OTP directly from depository on your email id and/or mobile number to create pledge.
  • Check your securities / MF / bonds in the consolidated account statement issued by NSDL/CDSL every month
Advisory for investors
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Compliance officer Name: Charanpreet Gill
Ph No: 011-40345555,    Email: COMPLIANCE@GILLBROKING.COM

Disclosure of Proprietary Account Trading & NSE by Members to Clients : Proprietary Trading Disclosure: In terms of provisions of the Rules, Bye-Laws and Business Rules of the Exchanges and Pursuant to SEBI Circular Number SEBI/MRD/SE/Cir-42/2003 dated November 19, 2003 & SEBI/HO/CDMRD/DMP/CIR/P/2016/49 dated April 25, 2016 regarding Disclosure of Proprietary Account Trading by broker to client, Gill Broking Private Limited Discloses to its clients about its policies on proprietary trades. Gill Broking Private Limited is doing client based trading and Pro-account trading. GILL BROKING – SEBI REG INZ000168338 | CIN NO.- U67190DL2017PTC324293 | FOR ANY GRIEVANCE, PLEASE WRITE TO US: GRIEVANCE@GILLBROKING.COM

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Attention Investors!

• Beware of fixed/guaranteed/regular returns/ capital protection schemes. Brokers or their authorized persons or any of their associates are not authorized to offer fixed/guaranteed/regular returns/ capital protection on your investment or authorized to enter into any loan agreement with you to pay interest on the funds offered by you. Please note that in case of default of a member claim for funds or securities given to the broker under any arrangement/ agreement of indicative return will not be accepted by the relevant Committee of the Exchange as per the approved norms.
• Ensure that pay-out of funds/securities is received in your account within 1 working day from the date of pay-out.
• Be careful while executing the PoA (Power of Attorney) – specify all the rights that the stock broker can exercise and timeframe for which PoA is valid. It may be noted that PoA is not a mandatory requirement as per SEBI / Exchanges.
• Register for online applications viz Speed-e and Easiest provided by Depositories for online delivery of securities as an alternative to PoA.

• Do not keep funds idle with the Stock Broker. Please note that your stock broker has to return the credit balance lying with them, within three working days in case you have not done any transaction within last 30 calendar days. Please note that in case of default of a Member, claim for funds and securities, without any transaction on the exchange will not be accepted by the relevant Committee of the Exchange as per the approved norms.

• Check the frequency of accounts settlement opted for. If you have opted for running account, please ensure that your broker settles your account and, in any case, not later than once in 90 days (or 30 days if you have opted for 30 days settlement). In case of declaration of trading member as defaulter, the claims of clients against such defaulter member would be subject to norms for eligibility of claims for compensation from IPF to the clients of the defaulter member. These norms are available on Exchange website at following link: NSE, MCX

• Brokers are not permitted to accept transfer of securities as margin. Securities offered as margin/ collateral MUST remain in the account of the client and can be pledged to the broker only by way of ‘margin pledge’, created in the Depository system. Clients are not permitted to place any securities with the broker or associate of the broker or authorized person of the broker for any reason. Broker can take securities belonging to clients only for settlement of securities sold by the client.

• Always keep your contact details viz. Mobile number/Email ID updated with the stock broker. Email and mobile number is mandatory and you must provide the same to your broker for updation in Exchange records. You must immediately take up the matter with Stock Broker/Exchange if you are not receiving the messages from Exchange/Depositories regularly.

• Don’t ignore any emails/SMSs received from the Exchange for trades done by you. Verify the same with the Contract notes/Statement of accounts received from your broker and report discrepancy, if any, to your broker in writing immediately and if the Stock Broker does not respond, please take this up with the Exchange/Depositories forthwith.

• Check messages sent by Exchanges on a weekly basis regarding funds and securities balances reported by the trading member, compare it with the weekly statement of account sent by broker and immediately raise a concern to the exchange if you notice a discrepancy.

• Please do not transfer funds, for the purposes of trading to anyone, including an authorized person or an associate of the broker, other than a SEBI registered Stock broker.

• Do not deal with unregistered intermediaries (who are not registered with SEBI/Exchanges).

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