9th June 2014

NOTICE

 

Sub: Request for withdrawal of Collateral Deposits with the Exchange

 

Trading Members are hereby informed that for the purpose of risk management, it has been decided to process all requests for withdrawal of the collateral deposits such as securities pledged and bank guarantees issued in favour of CSE and fixed deposits lien marked in favour of CSE/ICCL/NSCCL as under:

 

1. Securities pledged with CSE will be processed at the end of the day of such request received from trading members and will be available for release only on the next working day after receiving a confirmation from RMS that there is no shortfall in margin after such withdrawal.

 

2. Fixed deposits lien-marked in favour of CSE will be processed at the end of the day of the request received from trading members and will be forwarded to the concerned bank for pre-mature withdrawal after receiving a confirmation from RMS that there is no shortfall of margin after such withdrawal.

 

3. Bank guarantees issued in favour of CSE - will be processed at the end of the day of the request received from the trading member and  will be returned after completion of the settlement obligations relating to the transactions till the date of request for withdrawal.

 

4. Fixed deposits lien-marked in favour of ICCL/NSCCL will be processed at the end of the day of the request received from trading members and will be released only after three working days from the date of such request.

 

In view of the above, all trading members are advised to take enough care and caution while selling their securities which are lien-marked in favour of the Exchange and forward such request much prior to the actual date of sale to avoid any loss due to non-release of such securities on the scheduled date and time of pay-in.

 

Members are requested to take note of the same and comply accordingly.

 

 

DGM-SEO