On Nov. 22, IND NSE amended table of penalty charges for violations.
IND NSE issued circular to member of commodity derivatives segment, futures and options segment, as well as capital market segment, on margin violation penalties.
Follows IND NSE Apr. 2024 issued consolidated circulars for segments, see #210197.
Document dated Nov. 22, 2024, received from IND NSE Nov. 26, summarized Nov. 28.
Amendments
Modifies item under violations and penalty in consolidated circular; penalties for margin violations will be levied monthly based on specified or revised slabs.
For 1st instance, a penalty of 0.07% per day will be levied; 2nd to 5th instances, the penalty will be 0.07% per day plus INR 5,000 per instance from 2nd instance onwards.
For the 6th to 10th instances, the penalty will be 0.07% per day, additional INR 20k for the 2nd to 5th instances, INR 10k per instance from the 6th to 10th instances.
From the 11th instance onwards, penalty will be 0.07% per day, additional INR 70k for the 2nd to 10th instances, INR 50k per instance from the 11th instance onwards.
Additionally, the member will be referred to the member committee for suitable action.
Instances refer to disablements during market hours within calendar month; revised penalty structure will be effective from Jan. 1, 2025, members are asked to take note.
