I have requested for a shift to Orbis custodian & also filled in my form, it’s been more than a week now & so far no communication from your end. My ticket number is [#20200811607624]. How much time will this take?
Also, before filling the form i was told that by using Orbis custodian, we get 10% additional margin benefits. Is this true?
So, if i had a call spread with hedging which costed 40k previously will cost 36k after moving to Orbis?
Hi Abhijith,
Your CP code is yet to be issued from the exchange. Once done, someone from our team will reach out to you to complete the migration.
The margin benefits are up to 10% on intraday trades. The normal overnight margins include the SPAN and Exposure which will stay the same.
Hi Mohit
Same case here I have applied more than a week ago but still waiting for transfer, can’t trade cause of just 3 strikes available these days. Please atleast tell us how much time CP code from exchange takes so we can wait patiently.
It means option seller will always have to short first and it takes off any margin benefit being provided by the exchange on hedged positions. Seller will need to provide full margin upfront to undertake any option sell
It is also not possible to hedge any monthly option sell using weekly option buy. If I need to buy the same strike price for next week expiry, first I will need to square off the current week long causing margin requirements to shoot up. In the interim my position will remain naked until buying the next week hedges.
Moving to Orbis means funds can no longer be invested in liquid funds and be used as collateral for margin.
All in all, a no-win situation from Zerodha and a really bad deal for guys paying for using @Sensibull with Kite
Yes, you will need full margin to Short first but once you have taken Long position you will continue to get same margin benefits.
It doesn’t matter if you take Short position first and then Long or Long first and then Short, margin benefit you receive is the same.
If you have Short position, you can hedge it by taking Long position in any expiry.
That won’t happen anytime soon.
@siva-reddy will this do something regarding OI restrictions? https://www.google.com/amp/s/www.moneycontrol.com/news/business/markets/sebi-may-ease-measures-taken-to-control-market-volatility-5748871.html/amp
I too applied of 15th of this month and after many mails and calls there is still no progress, I got a call last friday from zerodha and I asked him to expedite the process but still there is no result. If people don’t move to Orbis how will others get a chance to trade in zerodha too?? I fail to understand why there is no sense of urgency here?
True, they are just taking there own time working from home i guess!!
yeah, if this is lifted we believe market OI will increase and so our OI, but the restriction of broker having max 15% of total OI will remain the same, lets see.
Hi Abhijith, hope you’re doing good. Could you please help me with your Client ID so that we can get in touch with you?
Thank you.
#20200811607624 This is my complaint ID. Client ID - ZQ6442.
Thank you, we shall get back to you at the earliest.
Finally esign done, now waiting for CP code, guys you must fasten the process esign should not take 10-15 days, what you can do at your end atleast fast forward it.