Important Update - Implementation of Cross Product Block Mechanism

This is with reference to the Circular issued by SEBI having reference number SEBI/HO/MIRSD/DOP/P/CIR/2021/59 dated July 16 , 2021 , in compliance of the circular we are moving to the Block Mechanism starting 26th September 2022.
Post the implementation of the said functionality few changes will be made in our product offering and the same are mentioned as below:-


a. If a stock is bought or sold in a particular product type i.e. Cash & Carry (CNC), Margin, E-Margin / MTF , C-Sell & Encash products, the reverse leg of the said stock will not be allowed in any other order / product (for that day), till the time the open position taken in a particular order / product type is not squared-off. However, you will be allowed to repeat the first leg process across the order / product types.


b. Intraday & Cover Order products will be available as the positions would be squared off on the same day itself.
For Example - If you have first bought stock A in CNC order / product, you will not be allowed to sell stock A in any other product other than CNC. Once you square-off the position taken (on the same day) in CNC order / product, selling will be allowed in other order / product. Similar logic will be applicable to other order / product types as mentioned in below Table A.

Table A

First Buy Product CNC Sell allowed E - Margin (MTF) Sell allowed Margin Sell allowed Collateral Sell allowed Encash Sell allowed Cover & Intraday Sell allowed
CNC Yes No No Yes No Yes
Emargin No Yes No No No Yes
Margin No No Yes No No Yes


For Example - If you have first sold stock A in CNC order / product, you will not be allowed to buy stock A in any other product other than CNC. Once you square-off the position taken (on the same day) in CNC order / product, buying will be allowed in other order / product. Similar logic will be applicable to other order / product as mentioned in below Table B.

Table B

First Buy Product CNC Buy allowed E - Margin (MTF) Buy allowed Margin Buy allowed Cover & Intraday Buy allowed
CNC Yes No No Yes
Emargin No Yes No Yes
Margin No No Yes Yes
Coll Sell Yes No Yes Yes
Encash Sell No No No Yes


c. Convert to Delivery option will only be available for E-Margin (MTF) /order / product, whereas it will not be available for any other order / product type.


d. In case E-Margin / MTF position is carried forward till T+275 days, square off of the position will be allowed, but buying of the same stock will be restricted across the order / product type including E-Margin / MTF for that day.


e. Off-market orders will not be available between 03:30pm on 23rd September 2022 till 06:00pm on 24th September 2022.


Please take note of the above while placing orders and for any query please do connect with your mapped relationship manager or our customer care department on 022-39019400 or [email protected].

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