Excess/Shortfall wrt requirement by exchange/NSCCL Charges ??

General
1

I am a student and new to trading so I do intraday trade and CNC(sometimes) with few hundred rupees. Today I bought(CNC) shares worth of Rs412 and I had only Rs412.44 as Free cash in account. I received margin statement and the funds were Rs( -15.572 ). I am charged under {Excess/Shortfall wrt requirement by exchange/NSCCL}.

I checked list of charges, ledger and contract note. I didn’t found any description of these charges. Though the margin statement(sent via e-mail) mentions these charges in column of {Excess/Shortfall wrt requirement by exchange/NSCCL} in negative. I am sure these are not DP charges as I haven’t sold the shares.

Please care to explain above chages.

2

Hey Danish

You should check out this link. It should provide some clarity as to how to interpret margin statements. You can cross check with your ledger as well.

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3

Thank you for replying. In the margin statement the charges are under Excess/Shortfall w.r.t requirement by exchange (-15.57). My equity account value is Rs403.63, equity cash balance is Rs(-15.57), and holdings value is Rs419. So if I sell my holdings @419, will I get

Rs419-13.5(DP charges) = 405.5(approx.)

OR

Rs419-13.5(DP charges)-15.57(
Excess/Shortfall w.r.t requirement by exchange)
=390(approx.)

please explain this

4

It would be the 2nd case. If you sell your holdings at 419, you’ll get

419 - 15.93 (DP charges with GST) - 15.57 (Excess/Shortfall w.r.t requirement by exchange) = 387 approx.

I hope this helped! :slight_smile:

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5

Thank you so much for reply. In order to be profitable and overcome these charges I must invest with more amount or I better stick to intraday trades.

6

Until you’re confident and have built a system, which has been backtested, I think you should stick to smaller amounts. but you could increase the amount just enough to make up for your expenses. And definitely go though Varsity.

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