I’ll give you a generic response here and expand on the answer given by @siva above and ask my team member to look into your case specifically.
When the concept of peak margin was introduced, the CCs resorted to taking snapshots of portfolios at frequent random timestamps, and started applying margins for the respective portfolio. Clients were expected to ensure they have sufficient margins at all times for the portfolio snapshots taken.
The question now was, what risk array parameters to apply to these portfolios to determine the margins since they’re taken at different times during the day, and as @siva has said above, the CCs publish 5 risk arrays every day. Earlier, the CCs resorted to applying the prevalent risk array and computed margins. So for the portfolio snapshot of 10:30 am, the risk array of 10:00 am was applied, for the portfolio snapshot of 3:00 pm, the risk array of 3:00 pm would be applied. While this was understandable, the CC also expected brokers to have collected the margin for each portfolio, failing which it would be qualified as a case of margin shortfall, and penalty would be charged which could not be passed on to the client. This was impossible for any broker to comply. This is because, assume the margins for one lot of Nifty at 10:00 am was Rs.1,55,000 and the broker ensured to have collected this from the client. Now, on account of any intraday volatility, if the margins went up to Rs.1,70,000 at 03:00 pm, the broker was expected to have collected Rs.1,70,000 for the same position that was entered into the client in the morning at 10:00 am. If the client did not transfer the difference of Rs.15,000, then the broker would be penalized for short margin collection.
Since compliance to this was impossible (because no broker could pre-empt volatility and charge margins) there was a change made in the way margins would required to be collected from a “margin reporting” perspective. Today, when snapshots are taken for the levy of peak margins, the risk array applied is fixed to be that what existed at the beginning of the day (BOD), and margins for the sake of margin collection is calculated basis these values.
While peak margin is calculated four times during the day - with the highest margin requirement from these snapshots expected to be maintained by the client; there is also a separate concept of margin requirements based on the client’s end-of-day positions. This again, is calculated on the basis of BOD parameters for the sake of margin reporting but what is actually blocked at a broker level which inturn is charged to the client is the actual margin calculated for EOD position as per EOD parameters. The EOD parameters are published by the exchange after the market close, and what’s charged on Kite are margins required to be maintained as per BOD parameters. This may be the reason you’re getting the margin calls after the close of the markets.
As I’ve said above, my team will connect to you via ticket/ any other convenient mode and explain to you in detail quoting details of your positions for respective days.
