Upfront margin collection changes - BOD

[ramu]

Hi,
SEBI has released a circular, SEBI/HO/MRD2/DCAP/P/CIR/2022/60, about changes to margin collection changes. Can someone simplify the change? Specially, what does “fixed beginning of day (BOD)” mean, is it that margin collected will be verified at “09:15” for shortfall?
Thanks!

[abhijeet1]

Also pls clarify if there will be any leverage given like earlier?

[YS_Bhargav]

SEBI's Circular on "Changes to the Framework to Enable Verification of Upfront Collection of Margins from Clients in Cash and Derivatives segments"

As we all know SEBI had in 2020 introduced peak margin requirements, taking 5 snapshots at random intervals to check whether sufficient margins were maintained or not. And if there was any shortfall it resulted in a peak margin penalty. SEBI in its recent circular made changes to this. According to the circular: The margin requirements to be considered for the intra-day snapshots, in derivatives segments (including commodity derivatives), shall be calculated based on the fixed Begi…

Wrote a post on this topic in detail