Re: Achiievers Equities Ltd
Dear Poster on behalf of Achiever
Your margin file was not wrong, its you who does not have adequate information
or in simple words, uou dont seems to understand the difference between SPAN MARGIN (which in the range of 5% of nifty value) and EXPOSURE MARGIN (which is in the range of 3% of nifty value), and TOTAL OF THEM is around 8%
at one hand you are talking about Carry Forward Trade on the basis of Span Margin
On other hand you are telling margin of total of SPAN+Exsposure (which margin is demanded by any broking house)
Go and discuss with your RMS to understand the difference SPAN & Exposure margin and whether you allow to Carry on ONLY span margin or not, at least for your company sake, dont mislead people
@tradedatrend
You are absolutely right and correct...sorry for the use of wrong terminology.
What I want say was that Margin (Span/Initial Margin + Exposure Margin) which is require by exchanges are only consider for carry forward or overnight position.
No Additional Margin are taken beyond that...Some Brokers/Members do take as per there RMS.
Want to convey that we consider only minimum margin for the position as defined by NSE,beyond that they impose penalty on shortfall as per SEBI.
As per NSE it is
Initial/Span Margin - 4 to 5 %
Exposure Margin - 3%
We take 8%...but it depends on The SPAN® margins,which are revised 6 times in a day -once at the beginning of the day, 4 times during market hours and finally at the end of the day.Obviously, higher the volatility, higher the margins.
So it changes during market hours...as today it was around 7.10%(4.10%+3%)
But some Broker/Member takes Additional margin of further 2% which comes to 10 %(5+3+2)
Thanks for rectifying...
Happy Trading !!!
