To
All Members/Participants,
This is with reference to SEBI circular no SEBI/HO/MRD2_DCAP/CIR/2021/0598 dated July 20, 2021, and ICCL circular 20230126-1 dated January 26, 2023, 20230221-5 dated February 21, 2023 and 20230427-28 dated April 27, 2023.
As per ICCL circular 20230427-28 dated April 27, 2023, members have an opportunity to report amount of client collateral available against short allocation due to mentioned reasons, along with reason codes.
In view of SEBI circular SEBI/HO/MRD/MRD-PoD-2/P/CIR/2023/99 dated June 23,2023, ICCL has added few reason codes. The new reason codes “09”&”10” as mentioned below shall be available only for the clients using UPI block facility and shall not be available for other clients.
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Reason Code
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Particulars
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1
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Excess Collateral with other CC
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2
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Value of securities sold for which EPI has been done by end of day to CC*
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3
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Trade Done on behalf of NRI clients
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4
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Trade Executed for CP clients by trading members (available only for TMs)
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5
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Trades executed in wrong client code (Only available for Indicator other than “E”)
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6
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Allocation request submitted to ICCL, however allocation request accepted later (Only available for Indicator other than "E")
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7
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Securities are repledged by CM to CC in the depository but not yet processed by CC. (Only available for Indicator other than “E”)
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8
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Value of EPI of funds done by Custodian by end of day to CC in respect of marginable CP Codes (Only available for Indicator other than "E")
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9
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UPI block successfully created however accepted later (For clients using UPI block facility. Applicable only for intra-day shortfall where snapshot field is other than “E”)
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10
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Credit in lieu of successful early pay-in of securities to CC (For clients using UPI block facility).
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* Members can only report margins for securities sold for which EPI has been done.
As per the existing practice in case of instances of Intraday/ EOD short allocation; members shall have an opportunity to report amount of client collateral available with permitted reasons. In case of such reporting, penalty will not be applicable. The same is also applicable for additional reason codes for client using UPI block facility.
In case of any queries members may contact the following officials
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Name of Officials
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Direct Line Number
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Email
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Praveen Poojary
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022-22728788
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iccl.membership@icclindia.com
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Sneha Sahadevan
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022-22725075
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G.V. Kumar
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022-22728365
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For and on behalf of Indian Clearing Corporation Limited
Ganesh Kanaujiya
Senior Manager
022 - 22725744
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