MANU/SSMD/0008/2023

Ministry : Securities and Exchange Board of India

Department/Board : Market Regulation Department

Circular No. : SEBI/HO/MRD/MRD-PoD-2/P/CIR/2023/016

Date : 01.02.2023

Notification/ Circulars Referred : Circular SEBI/HO/MRD2/DCAP/CIR/P/2020/127 dated July 20, 2020 MANU/SDER/0009/2020;Circular SEBI/HO/CDMRD/CDMRD DRM/P/CIR/2021/689 dated December 16, 2021 MANU/SDER/0014/2021;Circular SEBI/HO/MRD2/DCAP/P/CIR/2022/60 dated May 10, 2022 MANU/SSMD/0016/2022

Citing Reference:
Circular SEBI/HO/MRD2/DCAP/CIR/P/2020/127 dated July 20, 2020 MANU/SDER/0009/2020  Referred

Circular SEBI/HO/CDMRD/CDMRD DRM/P/CIR/2021/689 dated December 16, 2021 MANU/SDER/0014/2021  Referred

Circular SEBI/HO/MRD2/DCAP/P/CIR/2022/60 dated May 10, 2022 MANU/SSMD/0016/2022  Referred

To

All Recognized Stock Exchanges and Clearing Corporations

Dear Sir/ Madam,

Changes to the Framework to Enable Verification of Upfront Collection of Margins from Clients in Cash and Derivatives segments

1. SEBI, vide circular SEBI/HO/MRD2/DCAP/CIR/P/2020/127 dated July 20, 2020, prescribed the framework to enable verification of upfront collection of margins from clients in cash and derivatives segments.

2. Further, SEBI, vide circular SEBI/HO/CDMRD/CDMRD DRM/P/CIR/2021/689 dated December 16, 2021, inter alia, modified the aforesaid framework prescribed vide said ci........