I trade in currency derivative weekly and monthly expiry days. The trading stops at 12:30 p.m. Many times I have some open positions epecially in options sell in the expired contracts that block my margin at the close of trading.
I have come to know that the clearing corporation releases the expired contract magin to the brokers by 2 pm on these days.
But here at zerodha i have no option to get my margin back by 2 pm the same day, so that i can trade in F&o contracts later that day.
Please try to correct this as it will result in me efficiently use my margin.
Not yet, we had experimented few alternatives but it didn’t work as expected. As I said, this is very hacky since exchange SPAN file itself has the expired contracts so need some more time on this, will keep this thread updated once we have solution.
I donot have issues if it is done manually till the time. You need to undertand my issue that margin gets blocked due to this and now having sensex expiry too later this day am unable to trade there after the expiry of the currency contract.
I am just asking you to follow the rules of SEBI. When the clearing corporations are releasing the margin intraday why cant it be given to the client the same time. how can a broker hold the margin in his account for the rest of the day without giving the benefit rightly deserved to the client.
Please clearify as my local broker does not have issues in giving me the margin intraday.
it has been very frustrating to talk to your customer support as they keep on deniying it to do manually.
As we have cross checked (screenshot of SPAN file in the same thread), margins are not releasing and its a same SPAN file for all. Manually releasing for every individual clients is not doable and also we had instance where margin captured short for expired contracts so we are awaiting clarity on margin report part as well.
As said earlier, this is better to be done at CC level SPAN file instead of broker’s finding a way out but still we tried couple of method to find a solution but there are hiccups so need to be tested with caution, if we find any solution will keep posted in this thread.
but exiting the position will incur a loss of a tick and in my case with heavy position it will be huge.
I have the contracts that are OTM nad they will settle at zero so why pay to exit with loss.
Also here i am asking for the rightfull margin. I have already talked to the clearing corporation and NSE and they have said that the margin is released intraday between 2 to 2:30 depending on the reference rate receiving timing.
The span file has nothing to do with it as here the issue is with my individual margin not global. i understand that the span file will help you to automate this process but here this is an exception.
my request is just to allow me to trade beyound the margin release from the exchange.
Today I have positions and thats why i am requesting you to do it manually for the last time as it has been done for the past many weeks