On Apr. 21, 2025, IND BSE notified that daily margin trading facility (which is also referred to as MTF) reports will only be accepted in new format from May 16, 2025.
IND BSE also said trading members who have not yet tested the revised format are advised to refer to original circular (of Jan. 28) and complete testing process promptly.
Facility for testing file uploads in the revised format has already been made available.
On Sep. 11, IND NSE revised FAQs on margin trading facility (MTF).
IND NSE clarified FAQs regarding MTF, including re definitions and prudential limits.
IND SEBI amended circular concerning maintenance margin same day, see #225803.
Follows IND BSE, NSE Jun. 2021 issued FAQs on margin trading facility, see #32684.
Document dated Sep. 11, 2024, received from IND NSE Sep. 17, summarized Sep. 19.
Overview of Clarifications
Exposure is defined as outstanding margin trading amount, reduced by cash collateral collected from client, if any, used for pay-in purposes in MTF books of trading member.
It also clarified members can set their self-imposed prudential limits; the exposure must not exceed the sum of borrowed funds and 50% of the member's net worth.
Borrowed funds refers to actual amount borrowed, not permitted limit of borrowings.
Oct. 2024 Revise FAQs, Daily Reporting Format
On Oct. 11, 2024, IND NSE, IND BSE stated that members should take note of the revised relevant FAQ points and the revised format for margin trading daily reporting.
Will be communicating re facility for testing the file upload as per revised format.
Jan. 2025 IND BSE Reporting Format
On Jan. 28, 2025, IND BSE made minor adjustment to margin trading reporting format by removing validation in column 22 of detail record, with no other major changes.
The facility for testing file uploads as per revised format is available at BEFS platform.
Noted these submissions are for testing only; a communication will be issued before going live and trading members should meanwhile submit data in existing format.
Feb. 2025 Testing Environment
On Feb. 5, 2025, IND NSE said testing facility is provided to eligible members who have availed MTF, allowing them to upload daily margin trading files in revised format.
To facilitate the transition, the enclosed manuals include login and user creation steps, MTF file upload guide, revised reporting format, and applicable file validations.
NSE will issue separate communication for official implementation of revised format.
Document dated Feb. 5, 2025, received from IND NSE Feb. 7, summarized on Feb. 11.
Apr. 2025 IND BSE Margin Trading Reporting Format
On Apr. 21, 2025, IND BSE notified that daily margin trading facility (which is also referred to as MTF) reports will only be accepted in new format from May 16, 2025.
IND BSE also said trading members who have not yet tested the revised format are advised to refer to original circular (of Jan. 28) and complete testing process promptly.
Facility for testing file uploads in the revised format has already been made available.
Regulators
IND BSE; IND NSE
Entity Types
B/D; Inv Co
Reference
Nt 20250421-50, 4/21/2025; Cir 10/2025, NSE/COMP/66522, 2/5/2025; Nt 20250128-58, 1/28/2025; Cir 78/2024, NSE/COMP/64519, Nt 20241011-67, 10/11/2024; Cir, NSE/COMP/63876, 62/2024, 9/11/2024
