APNA GODAM TECHNOLOGIES PRIVATE LIMITED

• 9. Penalty on delivery default
• 10. Custodial Participant
• 11. Client Margin Reporting and Segregation & Monitoring (Allocation) of collateral at Client Leve
• 12. Recovery of various levies and charges from the Clearing Member’s on behalf of AGTPL
• 13. Closing Out
• 14. Appointment of Agents for Delivery settlements by Constituents
• 15. Annexures
  • 15.1. Annexure 1 - List of Clearing Banks and branches
  • 15.2. Annexure 2 - Process of tendering Commodities for settlement of delivery obligations
  • 15.3. Annexure 3 - Procedures related to Custodial Participants
• 16. Formats
  • 16.1. Format – 1 - Format of undertaking to be submitted by Clearing Member to Clearing Bank for operation of clearing account
  • 16.2. Format - 2 - Clearing Member – Constituent (Custodial Participant) Agreement
  • 16.3. Format – 3 - Application from Clearing Member for allotment of Custodial Participant (CP) Code
  • 16.4. Format – 4 - Reporting format for EOD Short Allocation

CLEARING AND SETTLEMENT PROCEDURES

1. Admission and Exclusion of Deals

Deals executed on the Apna Godam Technologies Private Limited (AGTPL) are eligible to be cleared and settled through AGTPL unless specifically deferred or not allowed to, or rejected from admission by the Relevant Authority and shall be called “Admitted Deals‟.

2. Settlement of Admitted Deals

Admitted Deals executed on a trading day, shall be cleared and settled on a gross basis for delivery settlement by AGTPL to determine the settlement obligations for all Clearing Members (CMs).

The Clearing Members shall be responsible for all obligations arising out of / in respect of such trades including the payment of Margins, penalties, any other levies and settlement of obligations of the trades entered by them as Trading Members and also of those Trading Members and Custodial Participants, if any, for whom they have undertaken to settle as a Clearing Member.

Where the Clearing Member is not a Trading Member of Platform then the trades of those Trading Members and Custodial Participants for whom the Clearing Member has undertaken to settle Deals shall be considered for determining the obligations as a Clearing Member.

3. Clearing Banks

• 3.1. Designated Clearing Bank(s)

  Funds to be paid and/ or to be received shall be settled through such branches of Banks which are designated as Clearing Banks by AGTPL from time to time. The designated clearing banks and their designated branches are given in Annexure 1

• 3.2. Maintenance and operation of Clearing and Settlement Account
  • a. Every Clearing Member is required to maintain and operate a Clearing and Settlement account with any one of the designated Clearing Bank branches. The Clearing and Settlement account shall be used exclusively for clearing operations i.e., for settling funds and other obligations, payments of Margins, penal charges, etc. as may be specified by the AGTPL from time to time.
  • b. Clearing Members shall irrevocably authorize, as per Format 1 enclosed hereto, the Clearing Banks to access and debit or credit their clearing and settlement account as per the instructions of the AGTPL, reporting of balances and other operations / information as may be required by the AGTPL from time to time and to furnish to the AGTPL an acknowledged copy of the same along with the account particulars issued by the Clearing Banks.
  • c. A Clearing Member can deposit funds into this account in any form and can withdraw funds from this account only in Proprietary account.
  • d. A Clearing Member having funds obligation to pay is required to have clear balance in his clearing and settlement account on or before the stipulated pay-in day and the stipulated time.

• e. A Clearing Member shall not seek to close or de-activate the clearing account without the prior written consent of the AGTPL.
• f. The Clearing Banks shall debit/credit the clearing account of Clearing Members as per instructions received from the AGTPL from time to time. Any request from the clearing members for revoking the authorization furnished by them shall not be considered by the clearing banks. The Clearing Banks shall not close the clearing account or permit deactivation of the same without the prior written consent of the AGTPL.
• g. All bank confirmations on behalf of the members towards Margins, funds pay-in, etc. shall be given effect only when confirmation is received from their respective Clearing Banks through API’s.
• 3.3. Procedure for change in Clearing Banks

  In case a Clearing Member wants to close a clearing account with one designated clearing bank and open a clearing account with another designated Clearing Bank, the following procedure shall be complied with:

  • a. The Clearing Member shall request AGTPL in writing seeking its permission to close a clearing account with one designated clearing bank and to open a clearing account with another designated clearing bank.
  • b. The Clearing Member shall submit the said request along with No Objection Certificate (NOC) from his existing designated Clearing bank or where the NOC is not received, furnish an acknowledged copy of the NOC request along with a declaration to the effect that no response has been received from the existing Clearing Bank in respect of the NOC request even after a minimum waiting period of a fortnight.
  • c. On opening the clearing and settlement account with the other designated clearing bank, the Clearing Member shall submit to AGTPL the documents relating to the new clearing account as mentioned in 3.2 above.
  • d. AGTPL will inform the Clearing Member a date from which the new clearing and settlement account will be made operational.
  • e. Subsequently, AGTPL will intimate the Clearing Member a date on which the Clearing Member may close the existing clearing account.

4. Settlement

The pay-in and pay-out of Initial margin and delivery margin Settlement shall be effected in accordance with the settlement Date issued by AGTPL. The paying members are required to have clear balance of funds in their clearing and settlement account towards their pay-in obligation by the declared pay-in time on the settlement day. The pay- out of funds shall be credited to the receiving member’s clearing account thereafter.

All physical settlements i.e. delivery during staggered period or at expiry of contract, supplementary settlement for premium discount adjustment relating to quality and quantity, GST are effected as per the settlement calendar issued by AGTPL on periodic basis and as per the timelines specified in the product note of the respective commodity.

5. Settlement Procedure

The settlement of the contract shall be performed by physical delivery of the underlying commodity as per the delivery logic and in accordance with settlement Date prescribed in contract by the Platform. The tendering of deliveries shall be permitted only on specific tender days during the tender and delivery period. Such tender days will be notified in the contract in advance. AGTPL will have the right to fix, alter, extend or postpone such tender and delivery period.

Staggered Delivery:

norms for staggered delivery are as follows: -

• • Definition:

  Staggered delivery period is the period, beginning from contact start date to expiry of contract, during which sellers/buyers may give/take delivery.

• • All contracts where delivery is prescribed at AGTPL warehouses or AGTPL franchises warehouses where SWLPL is repository then the buyer will have option to accept early delivery.
• • All contracts where delivery is prescribed at buyer’s location/third party location then it is the compulsion on buyer to accept early delivery.
• • The minimum duration of staggered delivery period shall be at least five working days.
• • Platforms shall have the flexibility to set higher duration of staggered delivery period for any commodity SBT contract, as deemed fit, taking into account various factors such as historical open interest, transport availability etc.

6. Process for physical delivery

• 6.1. Pay in and Pay out for final physical settlement

  All physical deliveries are settled as per timelines specified in contract specification / product note. If the expiry of SBT contract happens to be a Saturday, a Sunday or a holiday at the Platform, Clearing Banks or any of the service providers, the pay-in and pay-out would be effected on the next working day.

  The settlement day for each commodity is specified in the Settlement Calendar issued by AGTPL periodically.

  The table below illustrates timings for pay in and pay out in case of positions marked for physical settlement. The buyers / sellers would have to deposit requisite funds / commodities in the designated accounts with their respective Clearing member before “pay in”.

  Pay in and Pay out of physical deliveries
  Time	Activity
  On or before 18.00 hours	PAY-IN
  	Debit Buyer Member Settlement a/c for funds
  	Debit Seller Account for respective commodity’s electronic balance
  On or before 18.00 hours	PAY-OUT
  	Credit Seller Member Settlement a/c for funds
  	Credit Buyer Account for respective commodity’s electronic balance

• 6.2. Funds Settlement
  • a. The Clearing Member’s receiving delivery will have funds obligations pertaining to physical delivery taken by them and they have to arrange funds in their designated accounts with Clearing Banks within the timelines specified by AGTPL.
  • b. The Clearing Member’s giving delivery shall receive pay-out of funds in their designated account with Clearing Banks as per the timelines specified by AGTPL.
• 6.3. Mechanism to adjust the margins blocked in the form of cash towards client funds pay-in obligations

  A facility is provided to adjust the margin blocked in the form of cash, towards client funds pay-in obligations. The details of the mechanism are as under:

  • 1) Clearing Members may request for adjustment of cash collateral allocated to clients/CP/TM Proprietary/CM Proprietary towards the delivery funds pay-in obligation of such client.
  • 2) The Clearing members are required to place such request before the cut-off time i.e. up to 6:00 PM one day before the Expiry day. The Clearing Member can send a mail or request through web.
  • 3) The amount eligible for adjustment against delivery funds pay-in shall be lower of:
    • a. Requested amount for adjustment of cash towards delivery funds pay-in; or
    • b. Buy side delivery margin for the settlement due; or
    • c. Cash collateral allocated; or
    • d. Delivery funds pay-in obligation for the settlement due
  • 4) The aggregate of cash available for adjustment as per (3) across all clients/ CP/TM Proprietary/ CM Proprietary shall allowed to be adjusted against delivery funds pay-in to the extent of the available cash collateral of the Clearing member.
  • 5) The amount eligible for adjustment shall be reduced from cash collateral allocated to respective clients.
  • 6) The requests received within the above mentioned cut-off time shall only be considered towards adjustment against delivery funds pay-in for respective settlement due.
  • 7) The amount blocked towards Net Buy premium and Intraday Crystallized Mark to Market Margins shall be unblocked at the beginning of the day on T+1. The members can de-allocate the free collateral and place a cash collateral release request before 8.00 AM. This released amount can be used towards meeting the funds pay-in requirement (scheduled before start of the market).
• 6.4. Pay-in and Pay-out of Commodities

  AGTPL has approved warehouses for receipt and delivery of commodities. Commodities will be received and delivered only from the AGTPL Approved warehouse. No lower grade/quality shall be accepted in satisfaction of delivery obligations in a SBT Contract except as and to the extent provided in the contract specifications.

• • Delivery at warehouse:

    The Commodities received at the AGTPL Approved warehouse/factory will be tested and certified by Assayer appointed by WSP from the empaneled list, before acceptance as good delivery in the warehouse. In case of non-availability of assayer the goods can be unloaded and the sample will be sent to nearest lab or nearest assayer who will update the quality on the basis of sample and warehouse visit later. After that only the said delivery can be used for fulfilling delivery obligation.

  • Delivery out of warehouse:

    The Quality check may be conducted in two stages: at the head end (despatch location) or at the tail end (delivery location). If the seller is satisfied with the quality assessment to be conducted at tail end, then the seller may dispatch the goods to the factory without undertaking the head-end quality check, relying on the tail-end quality report for final acceptance.

    However, if the seller so desires, the seller may opt for a head-end quality check prior to dispatch. In such case, an assayer appointed by AGTPL or any other mutually agreed assayer may visit the seller’s premises to conduct the quality assessment and issue the corresponding quality report.

    Any buyer or seller receiving and or effecting commodities through the settlement process of AGTPL would have to open SWLPL Repository account to hold the commodities in as Platform specific Electronic credit. In case of requirement of eNWR the buyer/seller needs to open repository account with NERL/CCRL in addition to SWLPL account.

    Where any commodity is sold for delivery, the seller must have requisite eNWRs / electronic credit of such commodity in his beneficiary account before the scheduled date of pay in. The process of tendering commodities for settlement of delivery obligations is given in Annexure 2. On pay-out, the buyer’s beneficiary Account would be credited with the said delivery quantity. The buyer must take actual physical delivery of commodity before Platform deliverable date as indicated in the quality test report/Assayer’s Certificate of the Assayer.

• 6.5. Supplementary Settlement for quantity and quality difference

  Additionally, the supplemental settlement will also be conducted on the same day for

  • a. Premium / discount adjustments relating to quality of the commodity delivered
  • b. Difference in actual quantity of commodity delivered
  • c. Close out for delivery shortages, if any

  Clearing Members are required to maintain adequate fund balances in their respective accounts.

• 6.6. Supplementary Settlement for Goods and Service tax (GST)
  • a. Goods and Services Tax (GST)
    • i. GST shall be payable by the members on the gross amount charged by them, from their Clients on account of dealing in commodities.

• • • ii. GST on the deliveries effected as the case may be would be applicable on the delivered commodities and a buyer shall make payment to his corresponding seller the value of GST payable by buyer on the commodities received from the seller in the settlement. The buyer and the seller shall be responsible for fulfilment of the obligations under the GST act on all contracts. The seller shall issue appropriate invoices to his corresponding buyer as may be required under the GST Act. The seller is required to remit the GST amount so collected/received from the buyer wherever applicable to the GST authorities within such time frame as may be prescribed under the GST Act. Members and / or their Constituents requiring to receive or deliver commodities should register themselves with the relevant GST authorities of the place where the delivery is proposed to be received / given. In the event of any GST exemptions, such exemption certificate as may be required under the GST law would have to be provided to his seller before the settlement of the obligation.
    • iii. Notwithstanding the above, it may please be noted that All the Members shall ensure that their respective Constituents, who intend to take or give delivery of commodity, are registered with GST authorities of all such States which has a Delivery center for particular commodity in which Constituent has or is expected to have All such Members dealing in deliveries shall also and comply with the provisions of the GST Act and the Rules made thereunder including the notifications issued by the Central or State Government to the extent as is applicable while receiving or giving deliveries of commodities towards an obligation while dealing in SBT contracts settled through AGTPL.
    • iv. The procedure for payment of GST and other tax levies shall in accordance with the AGTPL Policy and the responsibility for payment of GST is as prescribed. It is clarified that Members and / or their Constituents shall be solely responsible for all statutory compliances applicable to their transactions and AGTPL will not be responsible or liable for any default due to non-compliance from Members and / or their Constituents on GST / tax matter.
    • v. It is further clarified that any subsequent buying and selling of commodities which are received by the participation on the Commodity Platforms and the settlement thereof are dealings outside the AGTPL and is a bilateral contract between such Buyer and seller and AGTPL shall not be responsible or liable in any manner for such settlement/s and / or any and all consequences thereof.
    • vi. The taxes payable on the commodity contracts shall be governed by the relevant Govt. legislations and notifications issued by the State or the Central Govt. from time to time and the buyer and seller are responsible to comply with the tax laws as applicable to the commodity.
    • vii. The Constituents, Trading, and Clearing Members are advised to consult independent advisors in order to ascertain their obligations under GST laws.
    • viii. AGTPL will conduct a separate supplementary settlement three days after the date of GST Return Filing.
    • ix. The Seller Clearing Members are required to give the seller Client details at the time of bidding itself so that correct GST invoice can be made.
    • x. The amounts due to the above differences will be debited / credited to Member’s clearing bank account similar to normal settlement.

7. Early Pay-in Facility

• a. Early pay-in’ facility shall be provided to market participants permitting them to deposit certified goods in AGTPL approved warehouse against relevant SBT Contracts sold.
• b. In case of compulsory delivery Contracts, delivery to the extent of open position at the expiry of the contract shall be mandatory after claiming early pay-in facility on the position.

8. Non-fulfilment of settlement obligations

Non-fulfilment of either the whole or part of the settlement obligations will be treated as a violation of the Policy of AGTPL and will attract penal charges as stipulated by AGTPL from time to time. In addition and without prejudice to the foregoing, AGTPL may, within such time as it may deem fit withdraw any or all of the membership rights of Clearing Member including the withdrawal of trading facilities of all Trading Members clearing through such Clearing Member’s, without any notice.

In case of Non-fulfilment of the settlement obligations, a charge at the rate of 0.10 % per day shall be levied, subject to a minimum of Rs. 500/- per instance, computed on the amount outstanding from the day on which monies are due to be paid until the day all obligations including shortfall in deposits are fulfilled.

In addition to above, the outstanding positions of such Clearing Member and/or Trading Members and/or Constituents, clearing and settling through such Clearing Member, may be closed out forthwith or any time thereafter by AGTPL, at the discretion of AGTPL, to the extent possible, by placing at the Platform, counter orders in respect of the outstanding position of Clearing Member without any notice to the Clearing Member and / or Trading Member and / or Constituent, and such action shall be final and binding on the Clearing Member and / or Trading Member and / or Constituent.

AGTPL may also initiate such other risk containment measures as it deems fit with respect to the open positions of the Clearing Member and / or Trading Member and / or Constituent. AGTPL may, in addition to the foregoing provisions, take additional measures like, imposing penalties, collecting appropriate deposits, invoking bank guarantees/ fixed deposit receipts, realizing money by disposing off the securities and exercising such other risk containment measures as it deems fit and may further take such disciplinary action as it may deem fit and appropriate in this regard.

9. Penalty on delivery default

The penalty structure for failure to meet delivery obligations by the seller and appropriation of the said penalty amounts shall be as under:

• a. Penalty on seller in case of delivery default shall be as follows:
  • (i) SBT Contracts on agri-commodities:

    3 % of Settlement price + replacement cost (difference between settlement price and Last Trade Price of the day of the warehouse, then Last Trade price of the week of the warehouse then last Trade Price of the district of the week Any one of the above which is available in the order of here mention or price decided by AGTPL).

  • (ii) Norms for apportionment of penalty
    • • 1.50% of Settlement Price shall be deposited in the Settlement Guarantee Fund of the AGTPL
    • • 1.5% of Settlement Price + replacement cost shall go to buyer who was entitled to receive delivery.

• b. Any intentional / willful delivery default by seller would be viewed seriously and AGTPL shall take suitable penal / disciplinary action against such members over and above the prescribed penalty.
• c. A seller who has got requisite stocks in the AGTPL approved warehouses is not allowed to default and any such delivery default by seller would be viewed seriously and an additional penalty of 3% over and above the penalty prescribed for delivery default shall be levied. In addition to the penalty, the AGTPL / may take suitable penal / disciplinary action against such members.
• d. In the case of a default by a buyer i.e. in case a Clearing Member fails to make delivery pay-in of funds, it shall be considered as a member default. AGTPL shall review the loss incurred by the non-defaulting Party, i.e. Seller, at its sole discretion, and accordingly, levy penalty on the defaulting buyer. However, such penalty shall be within the overall cap of delivery margins collected by the AGTPL, from such defaulting buyer clearing member.

Penalty for Repeated Delivery Default

• a. In the case of repeated default by a seller or a buyer, for each instance of repeated default, an additional penalty shall be imposed, which shall be 3%of the value of delivery default.
• b. Repeated Default shall be defined as an event, wherein a default on delivery obligations takes place 3 times or more during a year.
• c. The penalty levied shall be transferred to Settlement Guarantee Fund (SGF) of the AGTPL.

10. Custodial Participant

Those Constituents who are Institutions / Domestic Corporate Bodies and such other entities, etc., as may be approved by AGTPL, desirous of clearing the trades through the Professional Clearing Member (PCM)/Strategic Trading cum Clearing Member (STCM) are required to approach the PCM / STCM registered with AGTPL. The PCM / STCM, upon its satisfaction and after obtaining the prescribed documents, shall forward the same to AGTPL.

Upon approval by AGTPL, such entities would be allotted a Custodial Participant code, hereinafter referred to as “CP Code”. Such approved entities can have a facility to execute trades through one or more than one Trading Member (TM) / Trading cum Clearing Member (TCM) / Strategic Trading Cum Clearing Member (STCM) and settle such trades through a Professional Clearing Member (PCM) or Strategic Trading Cum Clearing Member (STCM). Such entities who have been allocated a Custodial Participant code shall be termed as Custodial Participant (CP). AGTPL shall allot a CP code and upon receipt of same, the CP shall intimate the CP code allotted to him to the TM/TCM/STCM through whom he desires to trade on Concerned Platform.

Procedures related to Custodial Participants are provided underAnnexure 3

11. Client Margin Reporting and Segregation & Monitoring (Allocation) of collateral at Client Level

• 11.1. Process for Client Margin Reporting (short / non-collection of margins)

  Margins applicable on client positions have to be compulsorily collected from the clients and reported to AGTPL by the clearing / trading members.

  • a. The ‘margins’ mean delivery margin or any other margin as prescribed by AGTPL to be collected by member from their clients.
  • b. The members are required to collect upfront delivery margin from their clients. The members will have time till ‘T+2’ working days to collect margins from their clients. The clients must ensure that the delivery margin are paid in advance of trade and other margins are paid as soon as margin calls are made by AGTPL/Members. The period of T+2 days has been allowed to members to collect margin from clients taking into account the practical difficulties often faced by them only for the purpose of levy of penalty and shall not be construed that clients are allowed 2 days to pay margin due from them.

• 11.2. Monitoring mechanism for Short allocation
  • a. Minimum client margin collection requirement less Client collateral value (only where client margins are greater than client collateral value) shall be considered short allocation. For this purpose, minimum client margin collection will mean margins required to be collected on upfront basis.
  • b. Client collateral value for this purpose shall be collateral value allocated by the CM to the client + value of securities re-pledged at AGTPL for that client (value shall be after applying all prudential norms of AGTPL).
  • c. Client level short allocation shall be computed at end of day based on the EOD minimum upfront margins required to be collected and client collateral value at EOD (Collateral Value at the allocation cut off time shall be considered for computing the EOD short allocation).
  • d. Clearing Members shall ensure that Client Collateral value for a TM Pro/CP/client is at all times greater than or equal to the minimum margin collection requirement for the respective TM Pro/CP/client.

  EOD short allocation Reporting

  • i. In case of instances of EOD short allocation, members shall have an opportunity to report amount of client collateral available with permitted reasons. In case of such reporting, penalty will not be applicable.
  • ii. Members shall have an opportunity to modify the client collateral Value (Peak) available against such short allocation due to below mentioned reasons through file upload functionality available in NCFE web portal as per Format 4:
    • a) Excess collateral (allocation and value of pledged securities over and above minimum margin) available in another AGTPL.
    • b) Trades executed in wrong client code codes
    • c) Allocation request submitted to AGTPL however, allocation request accepted later.
    • d) Securities re-pledged by CM to CC in the depository but not processed by CC (securities re- pledged by clearing member before considering peak short allocation snapshot)
  • iii. For reporting the Modified Client Collateral value (Peak), the member shall enter the incremental amounts in the prescribed upload format within the corresponding reason code. The modified Client Collateral Value (Peak) shall be determined by the AGTPL after considering the value entered by the member against the respective reason code. AGTPL shall compute revised intraday short allocation amount after adjusting for the aforementioned reporting.
  • iv. AGTPL shall calculate penalty after adjusting for the aforementioned modification and validation.
  • v. Such reporting of incremental Client Collateral Value (Peak) shall be done by TMs for their clients and by CMs for TMs and CP clients (in line with Margin reporting), by T+5.
  • vi. In case false reporting, penalty as applicable on false margin reporting will be applicable.
  • vii. The Penalty for intraday short allocation of collateral at Client Level is applicable from trade date May 2, 2023.
  • viii. The members are further advised to ensure that while reporting the excess collateral with other CCs for Peak (Intraday) Short Allocation and EOD Short Allocation, the excess amount so reported should not be more than the actual short allocation amount.

• 11.3. Penalties for short allocation and short margin reporting
  • a. In order to avoid duplicity of penalty levied for the same violation (i.e., non-collection and consequent non-allocation of client collateral), the penalty for short allocation and short margin reporting shall be combined (the provisions regarding higher penalty for multiple days shortfall etc. shall be considered across the violations and not separately.)
  • b. A single penalty as per the existing penalty structure (applicable for client margin short reporting, including exceptions such as member has failed to upload the margin reporting due to some technical error etc. ) shall be applicable. The amount to be considered for levy of penalty shall be the highest of:
    • i. End-of-day margin short-reported amount (margins required to be collected on upfront basis and including margin required to be collected by T+2)
    • ii. Highest intraday short allocation amount (after considering the reporting for valid reason codes if any) (margins required to be collected on upfront basis, excluding margins which can be collected by T+2)
    • iii. End-of-day short allocation amount (after considering the reporting for valid reason codes if any) (margins required to be collected on upfront basis, excluding margins which can be collected by T+2)

12. Recovery of various levies and charges from the Clearing Member’s on behalf of AGTPL

AGTPL shall recover various charges and levies due to AGTPL from its Members through the settlement account of the Clearing Member’s. Clearing Member’s liability towards the charges and levies would be aggregated to include the liability of all Trading Members of AGTPL clearing under it. Tax-invoice/debit-credit notes for such levies shall be provided to its Members by AGTPL. Non-payment of any charges and levies due to AGTPL/ AGTPL will be treated as non- fulfilment of settlement obligations for the purpose of all consequential actions.

13. Closing Out

In the event of non-performance by a Clearing Member of any of his obligations as specified in the Policy, or for any other reason that the relevant authority may deem fit, including, action initiated by Government / Statutory / Regulatory Agencies, pursuant to any acts of violation/contravention of any statutes or Rules and / or Regulations framed there under, committed by Clearing Member and / or Constituents clearing and settling through such Clearing Member, the outstanding positions of such Clearing Member and / or such Constituents, may be closed out at any time at the discretion of AGTPL, to the extent possible, either by placing, counter orders in respect of the outstanding position of Clearing Member, without any notice to the Clearing Member and / or Constituent, or by such other mechanism provided by AGTPL from time to time. Such action shall be final and binding on the Clearing Member and / or Constituent. AGTPL may also allow transfer of all or any of the open positions of Clients or such other open positions of such Clearing Member’s, as may be specified from time to time, to any other Clearing Member, who agrees to accept such transfer, subject to such terms and conditions as may be specified by AGTPL from time to time.

AGTPL may initiate such other risk containment measures as it deems fit with respect to the open positions of the Clearing Member and / or Constituent.

In addition and without prejudice to the foregoing, AGTPL may, within such time as it may deem fit withdraw any or all of the membership rights of the Member, without any notice.

AGTPL may, in addition to the foregoing provisions, take additional measures like, imposing penalties, collecting appropriate deposits, invoking bank guarantees/ fixed deposit receipts, realizing money by disposing off the securities, and exercising such other risk containment measures as it deems fit and may further take such disciplinary action as it may deem fit and appropriate in this regard.

14. Appointment of Agents for Delivery settlements by Constituents

Members and Constituents may complete the delivery obligations as a result of physical settlement through intermediaries appointed as Agents. The Constituents and Members are advised to consult independent advisors in order to ascertain the process of appointment of Agents under GST laws the terms and conditions as well as procedure for settling through Agents is given below:

• a. The Members/Constituents may appoint Agents on the terms and conditions as they deem appropriate in compliance with the requirements under the GST Act. The Constituents shall be responsible for the acts of their Agents under the Rules, Bye Laws and Regulations of the AGTPL.
• b. It will be the obligation of Members to obtain written confirmations from their Constituents regarding giving/receiving delivery to the specific Agent/s appointed by their Constituents.
• c. Invoice will be raised by and/or in the name of the Agent giving the details of the Constituents for whom the invoice being issued/raised.
• d. GST relating to the transactions will be settled by and in the name of the Agent.
• e. Members shall provide GST information for Agent instead of Constituent and the same shall match as per the request submitted to the AGTPL.
• f. It is to be noted that such arrangements are exclusively between the Members, their Constituents and the Agent. The AGTPL merely permits settlement obligations by giving/receiving delivery of commodities through the respective Agents as communicated to the AGTPL through Members, without assuming any liability in respect thereof. The AGTPL is not responsible for any disputes between the parties nor accepts any liabilities in connection with these arrangements.
• g. Constituents availing the services of Agents need to obtain a confirmation from such Agents to be appointed and ensure that such appointment is in conformity to relevant applicable regulatory provisions.
• h. Before availing the service, the Members and/or Constituents need to comply with the necessary documentation as may be suggested by such Agents.
• i. The Members should provide the details of the Agents, where appointed, in the GST information files instead of details of Constituents.
• j. Members should ensure that subsequent to the settlement, the commodities are transferred to the Agents’ / Clients Repository Accounts from the Members’ pool accounts. Similarly, in the course of pay-in for the settlement the commodities will move to the Members’ pool accounts from the Agents’/clients’ Repository accounts. The members should also ensure that:
  • • Necessary confirmation is received from the Agents before the same is communicated to the AGTPL;
  • • The details of Constituents are forwarded to the Agents to facilitate settlement;
  • • Invoices and other relevant documents are issued within the period stipulated by the AGTPL.

It is mandatory for every Member to issue an e-contract note to its constituents for trades executed by the Member on behalf of the constituents. Members shall also be responsible for payment of stamp duties on such contract notes if applicable in accordance with applicable law.

15. Annexures

• 15.1. Annexure 1 - List of Clearing Banks and branches

  Any scheduled commercial bank is allowed for clearing.

• 15.2. Annexure 2 - Process of tendering Commodities for settlement of delivery obligations
  • A. SWLPL Account Opening

    SWLPL facilitates holding of commodities deposited in the warehouses approved by the AGTPL as electronic credit. SWLPL facilitates transfer of such deposited commodities against the obligations arising out of the trades executed on AGTPL under the Clearing and Settlement process.

    All deliveries take place by electronic transfer through repository system of SWLPL. All Clients (buyers & sellers) must open a beneficiary account in SWLPL for receiving and tendering commodities since the pay-out as a result of physical settlement of commodities would be received in the designated SWLPL account.

    The holder of the commodity can go for eNWR and for that the holder needs to open repository account with NERL/CCRL.

    This account is to be opened with SWLPL and is used for transacting in electronic credit held by the account holder at approved warehouses by the AGTPL. Trading members must open similar beneficiary accounts for their own proprietary transactions.

  • B. Process of delivery
    • 1. The Client who wants to deliver the commodity should transfer the credit balances of WRs from his beneficiary account to the buyer account.
    • 2. The member also has to ensure that it has received all the deliveries from the clients before the pay-in to the AGTPL.
• 15.3. Annexure 3 - Procedures related to Custodial Participants
  • A. Procedure for appointment of Clearing Member (PCM/STCM) by Custodial Participant:
    • 1. Custodial Participant shall enter into an agreement as per format prescribed in Format 2 with a Clearing Member (PCM / STCM).
    • 2. The Clearing Member shall apply to the AGTPL in the format prescribed in Format 3, along with a copy of the agreement, for allotment of CP code.
  • B. Procedure for settlement of obligations on account of Custodial Participant:
    • 1. Trading Members (TM/ TCM/STCM) who place orders on behalf of a CP in the trading system of AGTPL shall enter the CP code, along with the order details including the Client code allotted to the CP.
    • 2. Trades resulting out of the orders with CP codes shall be made available by AGTPL to the relevant Clearing Member (PCM / STCM), for approval or rejection.
    • 3. Clearing Member of CP shall approve or reject such trades within the stipulated time, on the same day in such manner and through such facility as provided to the Clearing Member.
    • 4. All such trades which have been approved by Clearing Member shall form part of the obligation of the Clearing Member concerned and such Clearing Member shall be fully and completely responsible for all obligations arising out of such trades including the payment of Margins, penalties, charges, any other levies and settlement of such obligations.
    • 5. Trades of CP which have not been approved by Clearing Member shall be considered as trades pertaining to the respective Trading Members under such Client codes as keyed in by the trading member who executed such trades and shall form part of the obligation of those Clearing Members who clear and settle for such Trading Members.

16. Formats

• 16.1. Format – 1 - Format of undertaking to be submitted by Clearing Member to Clearing Bank for operation of clearing account

  Members are required to submit the undertaking to the Clearing Bank authorizing them to debit and credit their Clearing Bank Account in the following format.

  Date:

  From:

  [Member name and address]

  To:

  [Clearing bank name and address]

  Dear Sirs,

  Sub: Operation of Clearing Bank for AGTPL with effect from_______.

  Ref: Our Clearing Bank Account No: ____________ with [Clearing Bank name and address]

  With reference to the above, we note that:

  1. AGTPL has undertaken clearing and settlement activity for its Members. AGTPL has established a clearing and settlement system, whereby its members will be able to undertake the clearing and settlement of deals admitted.
  2. The bank has been nominated / appointed as a Clearing Bank for the purpose of Clearing and Settlement by AGTPL.
  3. As per the Policy of AGTPL, the member shall authorise the Clearing Bank to access their clearing account for debiting & crediting their accounts as per the instructions received from AGTPL from time to time. The instructions can be given manually or through Email or API.
  4. Having due regards to the above, we hereby irrevocably authorise the Clearing bank to debit and credit our above mentioned account number as per instructions received from AGTPL from time to time. Further, we authorise the Clearing Bank to report balances and other information relating to this account to AGTPL as may be required by AGTPL from time to time. This irrevocable undertaking will be effective with immediate effect.
  5. We further hereby undertake to abide by such other or further guidelines / instructions as may be communicated / decided by AGTPL.

  Yours faithfully,

• 16.2. Format - 2 - Clearing Member – Constituent (Custodial Participant) Agreement

  This Agreement is made at this day of 20……… by and between: …………………………………………………………….., a Company formed and registered under the Companies Act, 1956, having its Registered Office at …………………………………………….. (Hereinafter referred to as the “Clearing Member”, which expression shall, unless repugnant to the context, or meaning thereof include its successors, legal representatives and permitted assigns)

  AND

  a / an Company / Association / Trust / Co-operative Society / Partnership Firm / Resident Individual / duly formed and registered under the Act, having his / her / its Registered Office / Office / Place of Business / Residence at_______________________________________________(hereinafter referred to as the “Constituent”, which expression shall, unless repugnant to the context or meaning thereof, include its successors, legal representatives and permitted assigns)

  The Clearing Member and the Constituent shall wherever the context requires, be hereafter referred to individually as `Party’ and jointly as `Parties’.

  WHEREAS

  The Clearing Member is registered as a Professional Clearing Member (PCM) / Strategic Trading cum Clearing Member (STCM) of Apna Godam technologies Private Limited (hereinafter referred to as the “AGTPL”) which carries on the activities of clearing and settlement of deals (hereinafter referred to as “Deals”, “Trades”, “Contracts” and/ or “Transactions” interchangeably) executed on the trading platform of AGTPL or any other Platform (hereinafter referred to as “Concerned Platform”) for and on behalf of the Constituents.

  The Constituent is desirous of effecting deals on the Concerned Platform through one or more of the Trading Members (the term Trading Member shall include Trading Member (TM) / Trading Cum Clearing Member (TCM)/Strategic Trading Cum Clearing Member (STCM)) registered by the Concerned Platform and wishes to avail of the clearing and settlement facilities offered by the Clearing Member of AGTPL, subject to the Policy of AGTPL.

  The Constituent has approached the Clearing Member and requested to undertake the clearing & settlement of his/her/its Deals and to discharge his / her / its duties and obligations towards AGTPL on behalf of the Clearing Member and the Clearing Member has, in turn, agreed to clear & settle the trades done by the Constituent through one or more Trading Members of the Concerned Platform, subject to and strictly in accordance with the provisions contained in the Policy of AGTPL.

  Now, therefore, in consideration of the mutual understanding as set forth in this Agreement, the parties have agreed to the terms and conditions, as follows:

  • 1. The Parties shall be bound by the terms and conditions contained in this Agreement, the Policy of AGTPL.
  • 2. The Parties agree to get themselves registered with the APMC, Goods and Services Tax (GST) and / or any other Government / Regulatory Authority (ies), as and when required and as may be applicable under relevant laws.
  • 3. The Clearing Member hereby undertakes to maintain the details of the Constituent as mentioned in the Constituent Registration Form or any other information pertaining to the Constituent, in confidence and that it shall not disclose the same to any person / entity except as required by AGTPL or as may be required by any Government / Statutory / Regulatory Body / Authority and any Court of Law.

• • 4. The Clearing Member, however, shall be allowed to share the details of the Constituent as mentioned in the Constituent Registration Form or any other information pertaining to the Constituent with parties / entities other than as required under law, only with the express permission of the Constituent.
  • 5. The Constituent shall not, either acting alone or in concert with others, directly or indirectly, hold and control excess number of permitted contracts as allowed from time to time by the Concerned Platform.
  • 6. The Constituent shall not exercise a long or short position where, acting alone or in concert with others, directly or indirectly, will have exercised in excess of the limit on quantity as may be fixed from time to time by the Concerned Platform.
  • 7. The Constituent shall deposit with the Clearing Member monies (cash and cash equivalents), securities or other assets and properties, which may be required to open and / or maintain the Constituent’s account.
  • 8. The Constituent shall pay to the Clearing Member such amount(s) as an initial deposit (collateral / initial deposit) as decided by the Clearing Member, and in such form as may be approved by the Clearing Member up-front subject however to the requirements of AGTPL, on or before creating a position in any contract. The Clearing Member shall reserve the mark up margin (commonly referred to as ‘haircut margin’) from the collateral, which shall not be utilized for margin requirements. The mark up margin shall be subject to such revision from time to time as may be decided by the Clearing Member or upon the directives of AGTPL. The Clearing Member shall have authority to demand and collect such additional margins, even though not imposed by AGTPL, as the Clearing Member may deem necessary and the Constituent agrees to deposit additional collaterals to meet margin requirements in such form(s) as demanded / specified by the Clearing Member from time to time.
  • 9. All monies (cash and cash equivalents), securities or other assets and properties, (including commodities, whether in physical or dematerialized form), which the Clearing Member may hold on behalf of the Constituent, shall be subject to a general lien for the discharge of the Constituent’s obligations.
  • 10. The Constituent shall pay to the Clearing Member such amounts as may be required to be paid towards the initial margin/final settlement and all other charges / dues / obligations as per the requirements of AGTPL, at such intervals as may be mutually agreed upon or as may be required by AGTPL, as the case may be.
  • 11. The Clearing Member shall be liable to pay to the Constituent any amount becoming due and receivable by the Constituent towards final settlement of permitted Contracts, and such other settlement as per the requirements of AGTPL and in accordance with the Policy of AGTPL.
  • 12. The money deposited by each Constituent shall be kept in a separate account by the Clearing Member, distinct from his own account and the Clearing Member shall provide the details of margins collected for the trades executed by the Constituent to the Constituent, AGTPL as and when required.
  • 13. The Clearing Member shall from time to time inform the Constituent about the exposure limits (including any increase or reduction in such limits) up to which open positions can be taken by the Constituent.
  • 14. The Constituent agrees to pay to the Clearing Member, fees, charges, brokerages or commissions along with applicable taxes in respect of various services, which the Clearing Member provides and the Constituent avails, at such terms and intervals as mutually agreed from time to time.
  • 15. The Clearing Member or any of its authorized representatives and AGTPL and its officials or its authorized representatives shall have the right to inspect the books of accounts, records and documents, including computerized data of the Constituent for which the Clearing Member shall have free access to the premises occupied by the Constituent or by any other person on behalf of the Constituent.

• • 16. The Clearing Member shall have the right and the authority to adjust the dues / obligations of the Constituent from the collaterals placed by the Constituent with the Clearing Member.
  • 17. The Clearing Member shall confirm all trades executed on the same day the order is executed on the Concerned Platform as per process in place. In the event of non-confirmation and / or rejection of the trade by Clearing Member, the Constituent shall be liable to pay forthwith, the applicable margin as required by the Trading Member through whom the deal has been executed and the Clearing Member shall not be responsible for any liability arising by virtue of such trade. The Constituent agrees that the Constituent would be personally liable to settle all Contracts culminating in delivery and would be bound by Policy of AGTPL and directions and circulars issued thereunder from time to time in that regard.
  • 18. The Constituent will be responsible for providing information for the purposes of giving / taking delivery against his/her/its SBT deals along-with information necessary for giving / taking delivery within stipulated period as specified by the Clearing Member and as may be prescribed by AGTPL from time to time.
  • 19. The Clearing Member’s responsibility shall be restricted only up to settlement of commodities in the Repository System or any other permitted delivery system. The Constituent shall be responsible for carrying out all the activities for deposit, transportation, warehousing, assaying, withdrawal and all other activities for giving / taking delivery of commodities. All the obligations and charges in relation to delivery settlement of commodities shall be borne by the Constituent. The Constituent will be bound to re-imburse all charges / fees etc. paid / settled by the Clearing Member, as and when demanded by the Clearing Member. The Constituent shall be responsible for all compliances required in law pertaining to deposit, storage and delivery of physical goods either directly or through its representative.
  • 20. The Constituent shall co-ordinate with the Clearing Member to ensure that all requirements for giving / taking delivery are fulfilled in the time and manner as prescribed by AGTPL and shall also ensure fulfilment of all requirements incidental to the giving/taking of delivery. Constituent shall also ensure to comply with all statutory requirements laid down regarding Sale / Purchase of goods including payment of taxes, local levies and other statutory / regulatory charges as prescribed under applicable laws from time to time.
  • 21. Constituent shall submit documents such as Invoices, concession forms or any other documents as required under the prevalent laws and forward the same to the Counter-party Constituent or any other Clearing Member of AGTPL within stipulated period as specified by AGTPL from time to time
  • 22. All penalties / charges, etc. levied by AGTPL towards the non-compliance of delivery obligations and / or fulfillment of any documentation in relation to delivery process shall be borne by the Constituent and the Constituent shall be liable to reimburse these monies to the Clearing Member, in case the same have been settled by the Clearing Member.
  • 23. Constituent shall be liable to pay such Taxes as applicable under the Tax Laws or any such other levy, as the case may be, as applicable from time to time. The Constituent will be solely responsible for complying with all the provisions and regulation of the Tax Laws as applicable from time to time.

• • 24. The Constituent irrevocably authorizes the Clearing Member, should the Clearing Member deem it necessary for its protection, to buy, sell, square-off, close out or in any way dispose of any part or all of the contracts / collaterals / commodities (whether in physical or electronic form) held by the Clearing Member on behalf of the Constituent. The Constituent undertakes to indemnify (and Keep indemnified) the Clearing Member, against all losses, financial or otherwise, and to reimburse all incidental expenses incurred by the Clearing Member in order to give effect to the above.
  • 25. In the event of a default of the Clearing Member in payment of any dues to AGTPL or to the Constituent or in the event of the Clearing Member being declared defaulter by AGTPL, the Clearing Member agrees that Constituent's money shall not be utilized to meet the Clearing Member’s liabilities and, the Constituent’s positions shall be either transferred to another solvent Member or closed-out as per the provisions of the Policy of AGTPL. The losses, if any, caused to the Constituent because of such action would be recoverable by the Constituent from the Clearing Member.
  • 26. In the event of failure of the Constituent to fulfill his / her / its obligations to the Clearing Member or AGTPL, the Clearing Member shall be entitled to liquidate / square-off / close-out all or any of the Constituents’ positions without prejudice to the Clearing Member’s right to refer the matter to Arbitration. Any and all losses, financial or otherwise, and charges, fees, etc. on account of such liquidation / square-off / close-out shall be charged to and be borne by the Constituent. The Clearing Member would additionally have the right and authority to adjust / liquidate the collaterals placed by the Constituent to meet the liabilities / dues / obligations of the Constituent.
  • 27. In the event of the death or insolvency of the Constituent or the Constituent otherwise becomes incapable of receiving and paying for or delivering or transferring commodities which the Constituent has ordered to be bought or sold, the Clearing Member may close out the transaction of the Constituent and the Constituent or his / her legal representative shall be liable for any losses, costs, damages including statutory / regulatory charges, if any and be entitled to any surplus which may result there from.
  • 28. The Constituent shall be entitled to receive reports / statements of final settlement or such other settlement, margin amounts, open positions and other obligations from the Clearing Member.
  • 29. The Clearing Member and the Constituent shall settle the accounts on a periodical basis as may be mutually agreed between the Clearing Member and the Constituent.
  • 30. This Agreement may be terminated by mutual consent or by either of the Parties giving at least one- month notice to the other. Such termination shall not have any effect on the transactions executed till the date of termination and the Parties shall enjoy same rights and shall have same obligations in respect of each of such transactions.
  • 31. Any communication between the Clearing Member and the Constituent shall be in writing and shall be delivered in any one or more of the following ways :
    • a. an electronic mail or fax
    • b. delivering it by post
    • c. sending it by registered post
    • d. sending it by express delivery post / courier services
    • e. affixing it in the door at the last known business or residential address
    • f. Advertising it in at least once in any prominent daily newspaper.

• • 32. No liability shall result to either Party for delay in performance or non- performance of the obligations under this Agreement caused and/or contributed to by any event of force majeure. For purposes of this Clause, "Force Majeure" means and includes wars, insurrections, revolution, fires, floods, epidemic, quarantine restrictions, declared general strikes in relevant industries, Act of God, Act of Governmental, Statutory, Regulatory or Legal authority and such other acts or events including but not limited to technology failures beyond the control of the non-performing Party. The Parties understand that the Clearing and Settlement of all trades and transactions done on the Concerned Platform are subject to the Policy of AGTPL.
  • 33. The Constituent acknowledges that all trades/transactions cleared and settled on the clearing and settlement system of AGTPL for purchase and sale of commodities would be between the Constituents i.e. Buyers and Sellers inter-se and the Constituents would be personally liable to each other/counter party Constituent for the fulfilment of all obligations pertaining to the transactions/trades executed and cleared by them through their respective Trading/Clearing Members and that AGTPL has only a limited role of facilitating the clearing and settlement thereof in accordance with the Policy of AGTPL.
  • 34. Neither Party shall be entitled to assign or otherwise transfer this agreement or any benefits, rights, obligations or interests herein, whether in whole or in part, to any other agency without the prior written consent of the other Party.
  • 35. No forbearance, delay or indulgence by either Party in enforcing the provisions of this Agreement shall prejudice or restrict the rights of that Party nor shall any waiver of its rights operate as a waiver of any subsequent breach and no rights, powers, remedies herein conferred upon or Reserved for either Party is exclusive of any other right, power or remedy available to that Party and each right, power or remedy shall be cumulative
  • 36. All disputes, differences or questions arising out of or in relation to the Agreement including the interpretation of the terms contained herein with regard to the obligations, failure or breach thereof by any of the Parties and / or of any matter whatsoever arising out of the Agreement, shall in the first instance be resolved mutually by the Parties.
  • 37. If the Parties fail to resolve the same mutually, then the same shall be referred to Arbitration in accordance with the Policy of AGTPL.
  • 38. All Clearing and Settlement of deals are subject to the Policy of AGTPL, and shall be deemed to be and shall take effect as wholly made, entered into and to be performed in the city of Jaipur and the Parties to such trade shall be deemed to have submitted to the jurisdiction of the Courts in Jaipur for the purpose of giving effect to the Policy of AGTPL.
  • 39. This agreement shall be subject to the exclusive Jurisdiction of the Courts in Jaipur.

  In WITNESS THEREOF, the parties to agreement have caused these presents to be executed as of the day and year first above written

  SIGNED for and on behalf of Clearing Member:

  By:

  Signature:

• Title:

  Witness:

  SIGNED for and on behalf of Constituent:

  By:

  Signature:

  Title:

  Witness:

  (For Corporates)

  The Common Seal of the Company was affixed pursuant to the Resolutions passed at the Meeting of the Board of Directors held on:

  In the presence of:

  (Directors, who have subscribed their respective signatures hereto in token thereof) and countersigned by:

  (Being the person duly authorised in that behalf)

• 16.3. Format – 3 - Application from Clearing Member for allotment of Custodial Participant (CP)Code

  (On the letter head of the Clearing Member (PCM/STCM)

  Date:

  The Membership Department

  Apna Godam Technologies Private Limited

  Plot. No. 16, Sector- 9,

  Vidhyadhar Nagar, Jaipur

  Dear Sir,

  Sub: Allotment of Custodial Participant (CP) Code

  Member Name -_______________________

  Member Code -_______________________

  We wish to inform you that we have been appointed as Clearing Member by M/s (Name of Custodial Participant) who desires to trade through a single or multiple trading members at AGTPL. The letter of Custodial Participant confirming the appointment is attached herewith. Details of the Custodial Participant are as follows:

  Name of the Custodial Participant
  Registered Office / Address
  Name of contact person
  Telephone No. & Fax No.
  Email id of contact person
  PAN

  We will undertake clearing and settlement of the trades done on behalf of the above mentioned Custodial Participant in AGTPL. We have entered into an agreement dated__________with M /s__________(Custodial Participant) for the purpose, as required and a copy of the same is attached. We therefore request you to allot CP code.

  Yours truly,

  Authorised Signatory

• 16.4. Format – 4 - Reporting format for EOD Short Allocation

  The format for reporting, Trade in wrong client code, Re-pledged securities not processed by CM, Delay in Processing Allocation Request at EOD Short allocation

  The details of Trade Date, Clearing Member ID, Trading Member ID, and EOD Short fall Allocation will be made available to all members on daily basis.

  Reporting Format for Clearing Members

  Sr. No.	Column Name	Data Type	Description
  1	Trade Date	DD-MMM-YYYY	Trade Date
  2	Clearing Member ID	VARCHAR2(6)	Clearing Member Code
  3	Trading Member ID	VARCHAR2(12)	Trading member code
  4	Re-pledged securities not processed	NUMBER(20,2)	To be Updated by member
  5	Delay In Processing Allocation Request	NUMBER(20,2)	To be Updated by member
  6	Trade in wrong client code	NUMBER(20,2)	To be Updated by member
  7	Total Shortfall	NUMBER(20,2)	EOD Short Allocation

  Reporting Format for Trading Members

  • • File can be downloaded by Trading Member for reporting Excess Collateral with other CMs, Delay in Processing Allocation Request, Trade in wrong client code and Re-pledged securities not processed by CM at EOD Short Allocation for their Trading Members / Clients.
  • • The file structure for the same is as given below.

  Sr. No.	Column Name	Description
  1	Trade Date	Trade Date
  2	Trading Member ID	Clearing Member Code
  3	Client ID	Trading member code
  4	Excess Collateral With Other CMs at	To be Updated by member
  5	Excess Collateral With Other CMs	To be Updated by member
  6	Re-pledged securities not processed	To be Updated by member
  7	Delay In Processing Allocation Request	To be Updated by member
  8	Trade in wrong client code	To be Updated by member

• • Stage 1: Details provided by the AGTPL

    Each row of the file will provide the details of trade date, clearing member ID, trading member ID, Total shortfall at EOD short allocation and EOD short allocation snap shot time for a client code. For STCM/PCM member, each row of the file will provide the details for a Trading member.

  • Stage 2: Details to be updated by member

    Members are required to update excess collateral with other CMs at EOD short allocation, Delay in Processing Allocation Request, Trade in Wrong Client Code and Re-pledged Securities not processed by CM in the file for updating Collateral Value at EOD Short Allocation represented in the file

  • Stage 3: Amount of shortfall of margins and penalty

    Based on the details updated by members, the system shall automatically compute the amount of EOD Short Allocation and penalty levied on such short allocation amount. The figures for excess collateral, delay in processing allocation request, trade in wrong client code and Re-pledged securities not processed by CM appended by the member should not be negative.

End of Document