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| NOTICES |
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| Notice No. |
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20240318-55 |
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Notice Date |
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18 Mar 2024 |
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| Category |
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Settlement/RMS |
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Segment |
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General |
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| Subject |
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Segregation and Monitoring of Collateral at Client Level- Reporting Format |
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| Attachments |
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Annexure 1.pdf ; |
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| Content |
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To
All Members,
This is further to SEBI Circular no SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2023/187 dated December 12, 2023 and BSE circular 20240119-30 dated January 19, 2024 on Operational guidelines and SOP on Upstreaming of clients’ funds by Stock Brokers (SBs) / Clearing Members (CMs) to Clearing Corporations (CCs) which states any clients’ clear credit balances which are not placed by the SBs/CMs with the CC and are reported in the segregation file as “Retained with TM” or “Retained with CM, the Clearing Members are required to report retention reasons.
Basis discussion amongst Exchanges and Clearing Corporation, it has been decided to capture justifications for retention of collateral in the daily client collateral segregation file. The guidelines and revised format of daily collateral segregation data is provided in attached Annexure 1.
Members are advised to take note and make necessary changes in their back-office systems in order to comply with the aforesaid guidelines. Members may please note that the effective date for reporting of retainment reasons as per the revised format will be communicated separately.
For and on behalf of
Indian Clearing Corporation Limited
Anita Bhatia
General Manager |
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