To,

All Members/Participants,

This is with reference to SEBI circular ref no. SEBI/HO/MRD2/DCAP/CIR/P/2020/45, dated March 23, 2020 on Sub-Interoperability among Clearing Corporations: Revision of criteria for entering the risk-reduction Mode  - Clearing /trading member shall be mandatorily put in risk-reduction mode when 90% of the Clearing/ trading member’s collateral available for adjustment against margins gets utilized on account of trades that fall under the margining system. Members will be able to trade in normal mode as and when the utilisation goes below 85%.

SEBI Circular is enclosed as Annexure I.

Members / Participants are requested to take note of the above and the provisions of the circular shall come into effect from March 24, 2020.

In case of any assistance/clarification, please do not hesitate to contact us. 

For and on behalf of Indian Clearing Corporation Ltd.

Piyush Chourasia

Chief Risk Officer & Head – Strategy