In case of repeated shortfall in Daily MTM settlement pay-in; viz. ‘Mark to Market Pay-in’ in case of Futures contracts, ‘Premium Pay-in’ in case of Options and CTT Payin, over and above the existing practice following action shall be taken by NCCL -:
In case of a shortfall in meeting pay-in obligations by a Member over Rs. 3.00 Lakh is observed on three occasions in past 30 days, then:
- An amount equivalent to cumulative funds shortage of the past 30 days shall be blocked from the deposits of the clearing member.
- The amount shall be blocked for a period of 30 days and shall be released only if no further funds shortages are reported for the member during the said period.
- The amount blocked shall not be available towards any margin benefit.
- A report shall be provided to the Clearing Members on daily basis giving details of the amount blocked from their deposits for repeated instances of shortfall in pay-in