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    FPI Transaction Flow – Derivatives Purchase
    Purchase Settlements Flow





    High Level FPI Transaction Flow- Derivatives Long (Purchase)
    StepActivityWhoDay*
    1 Remittance Instructions to Banker in home jurisdiction Client T-1/T
    2 FPI informs Funds remittance Client T-1/T
    3 Foreign denominated funds remitted to Bank in India FPI's Bank Overseas T-1/T
    4 Request for placing buy Order Client T-1/T
    5 Order Placed on BSE's Trading Platform TM /CM T
    6 Order executed on BSE's Trading Platform BSE T
    7 Executed order's details intimated to the client TM /CM T
    8 Executed Trade details provided to the Clearing Corporation (ICCL) for Settlement BSE T
    9 Trades made available to the Clearing Member for confirmation ICCL T
    10 Trades confirmed to the Clearing Corporation (ICCL) CM T
    11 FPI's Bank in India instructed to place collateral TM /CM T
    12 Collateral placed with Clearing Bank FPI's Bank in India T
    13 Clearing Bank confirms receipt of collateral to the Clearing Corporation (ICCL) Clearing Bank T/T+1
    14 Trade details are provided to the Tax consultant on final settlement TM /CM T+1/T+2

    TM– Trading Member
    CM– Clearing Member
    * The days mentioned are indicative. For details on the days and the exact deadlines, please refer to your Custodian (DDP) /Trading Member (Broker)

    Note:
    The above illustration is where the Trading Member also Clears. In situations where Clearing is given-up by the trading member to another entity, you are requested to contact your trading member for the process setup.

    Daily Margin Mgmt:
    Margins will be calculated for the positions held on a daily basis and adjusted against the collateral. In case of the collateral being insufficient to cover required margins, the client will be expected to arrange for funds