Regulatory Alerts2025-04-28
Timelines for collection of Margins other than Upfront Margins – Alignment to settlement cycle
The Securities and Exchange Board of India (SEBI) has amended its Master Circular to align margin collection timelines with the T+1 settlement cycle in the cash market. Trading Members and Clearing Members are now required to collect margins, excluding upfront VaR and ELM, from clients by the settlement day rather than the previous T+2 working days. This change aims to strengthen risk management, with penalties for non-collection applicable if pay-in is not made by the settlement day.
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