Trading Members/ Clearing Members are hereby requested to refer to Indian Clearing Corporation Ltd. (ICCL) notice no. 20150708-34 & 35 dated July 8, 2015 and notice no. 20180326-42 dated March 26, 2018, in respect of penalty norms for violation of trading limits (assigned by Clearing member to the trading members), in Equity Derivatives and Currency Derivatives Segment.
The members are hereby informed that the said penalty norms have been revised with effect from Trade Date May 2, 2025, as follows.
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Description*
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Instances of Trading Limit violations in a calendar month
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Penalty
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For violation of trading limits (assigned by Clearing member) to trading member.
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1st instance
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0.07% per day
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2nd to 5th instance of disablement
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Trading limit violation upto Rs. 1 crore = 0.07% per day + Rs. 1,000/- per instance from 2nd to 5th instance.
Trading limit violation above Rs. 1 crore = 0.07% per day + Rs.5,000/- per instance from 2nd to 5th instance
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6th to 10th instance of disablement
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Trading limit violation upto Rs. 1 Crore = 0.07% per day + Rs. 4,000/- (for 2nd to 5th instance) + Rs.2,000/- per instance from 6th to 10th instance.
Trading limit violation above Rs. 1 Crore = 0.07% per day + Rs.20,000/- (for 2nd to 5th instance) + Rs.10000/- per instance from 6th to 10th instance.
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11th instance onwards
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Trading limit violation upto Rs. 1 Crore = 0.07% per day + Rs.14,000/- (for 2nd to 10th instance) + Rs.2,000/- per instance from 11th instance onwards Additionally, the member will be referred to the Member Committee for suitable action.
Trading limit violation above Rs. 1 Crore = 0.07% per day + Rs.70,000/- (for 2nd to 10th instance) + Rs.10,000/- per instance from 11th instance onwards. Additionally, the member will be referred to the Member Committee for suitable action.
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Clearing Members shall collect the penalty amounts from their respective Trading Members and remit the same to ICCL.
* The instances as mentioned above refer to all instances of violations of trading limits during trading hours in a calendar month.
Besides the aforesaid, all other norms as prescribed vide the aforesaid notices will remain unchanged.
In case of any clarifications, members may contact:
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Sr. No.
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Name
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Contact Nos.
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1.
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Mr. Krishna Patra
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22728902
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2.
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Mr. Yash Vaish
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22728614
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For & on behalf of ICCL
Sushant Majhi,
Chief Risk Officer
April 28, 2025
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