Pay-ins

Procedure for making full pay-in of funds on Settlement day

Members can make full pay-in of funds confirmation on settlement day before prescribed pay-in time by providing confirmation from their clearing banks towards their funds pay-in obligations. The procedure for the same is as given below:

• Members/Custodians can request for funds pay-in confirmations from the clearing bank on settlement day using the menu 'EMI-Full pay-in' provided in 'Collateral Interface for Members (CIM)'- an online facility provided to Members/Custodians.
• Members/Custodians can request for confirmation of full funds pay-in obligations from the clearing bank for the settlement due on the current day. If the members/custodians have already provided any early pay-in of funds prior to settlement day then they can request for confirmation of balance funds pay-in obligation. The funds pay-in amount (after considering early pay-in, if any) is automatically populated on selection of settlement number & settlement type.
• On confirmation by the clearing bank it is considered as fulfillment of funds pay-in obligation for the purpose of margin release.
• The clearing bank is required to provide the amount confirmed to Clearing Corporation towards funds pay-in at the stipulated time of funds pay-in for the settlement.

Exemption upon early pay-in of securities

In cases where early pay-in of securities is made prior to the securities pay-in, such positions for which early pay-in (EPI) of securities is made are exempt from margins. Members are required to provide client level early pay-in file in a specified format. The EPI of securities is allocated to clients having net deliverable position, on a random basis unless specific client details are provided by the member/ custodian. However, member/ custodian shall ensure to pass on appropriate early pay-in benefit of margin to the relevant clients. Additionally, member/custodian can specify the clients to whom the early pay-in may be allocated.

Go to Format of files

Exemption upon early pay-in of funds

• In cases where early pay-in of funds is made prior to the funds pay-in, such positions for which early pay-in (EPI) of funds is made shall be exempt from margins subject to bank confirmation.
• Members/Custodians shall make early pay-in funds through a screen-based request in the Collateral Interface for Members (CIM). The facility for making early pay-in of funds will be separate from the facility of allocation of the early pay-in of funds which can be done either through Screen based request or file upload.
• Members/Custodians may provide early pay-in of funds from any of their settlement accounts.
• Early pay in of funds may be allocated at client level or at client-security level. The allocation can be revised through a screen based request or through the file upload facility in the specified format.
• Members can make early pay-in of funds along with details of client-security allocation before execution of a trade and shall be able to avail the benefit of early pay-in of funds on execution of the trade.
• Where no allocation is made, Early pay in of funds would be allocated against the clients in the descending order of their net buy value of outstanding positions.

Go to Format of files