Order Matching Platform - Violations
The members shall not be permitted to trade with immediate effect.
There is a penalty for margin violation.
Penalty applicable for margin violation is levied on a monthly basis based on slabs as mentioned below:
|Instances of Disablement
|Penalty to be levied
|0.07% per day
|2nd to 5th instance of disablement
|0.07% per day +Rs.5000/- per instance from 2nd to 5th instance
|6th to 10th instance of disablement
|0.07% per day+ Rs. 20000 ( for 2nd to 5th instance) +Rs.10000/- per instance from 6th to 10th instance
|11th instance onwards
|0.07% per day +Rs. 70,000/- (for 2nd to 10th instance) +Rs.10000/- per instance from 11th instance onwards. Additionally, the member will be referred to the Disciplinary Action Committee for suitable action
Instances as mentioned above shall refer to all disablements during market hours in a calendar month. The penal charge of 0.07% per day shall is applicable on all disablements due to margin violation anytime during the day.
Non-allocation / rejection of institutional trades
In case of rejection/non-confirmation of any institutional/non-institutional trades by clearing member a penalty of 0.10% of the unallocated / rejected / unconfirmed value or Rs. 10,000/- whichever is lower per settlement shall be levied.