ELM margin for overnight position

[teenscm]

Hi,

I have query related to ELM margin on expiry day with collateral margin as below:
Cash and Cash collateral Margin: 4,50,000/-
Equity Collateral Margin: 7,00,000/-

I have shorted 4 lots of Nifty CE option which requires margin of approx. 8,50,000/-

On expiry day, there will be additional 1,50,000/- (47525000*0.02). So the total margin requirement will be 10,00,000/-. I have total margin of 11,50,000/-, but does not fit the 50:50 (cash:equity) criteria. Since the ELM margin is only required on an intraday basis on the expiry day, my understanding is that only the total margin amount should be met and the 50:50 criteria is not required.

@siva can you confirm ?

[siva]

@teenscm

Since the ELM margin is only required on an intraday basis on the expiry day, my understanding is that only the total margin amount should be met and the 50:50 criteria is not required.

Yeah, I think so, but will anyhow double check with team and confirm you tomorrow.

[siva]

@teenscm

Since the ELM margin is only required on an intraday basis on the expiry day, my understanding is that only the total margin amount should be met and the 50:50 criteria is not required.

We charge interest penalty based on end of day margins and not on peak margin( intraday) so there is no interest charged as of now with us.

[teenscm]

Thanks, please notify in case there is a change in this policy.