How can I take Physical delivery for my derivative positions in Futures and Options product?
You will need to call on the dedicated numbers provided on Open position and Order placement page to give the request for taking Physical delivery mentioning the specific contracts expiring (current month expiry /Adhoc expiry) on that day.
Once I place request for Physical Delivery, will all my positions in derivatives be marked for Physical delivery settlement?
No, all positions will not be marked for Physical delivery settlement and only the Contract for which you wish to take delivery and as specifically communicated on the call to our executive on expiry day will be marked for physical delivery settlement. This will be done on best effort basis only in case sufficient funds/shares as required to meet the physical delivery obligation are kept available in your account.
When can I give the request for Physical delivery settlement in the required contract?
You can give the request for physical delivery settlement only on the expiry day of that contract and before the cut off time which is currently 11 a.m. and is subject to change. You can call on expiry day and place request in any of the required contracts where you wish to take Physical delivery settlement by ensuring sufficient shares/funds as required for meeting the delivery obligations.
Can I give this intent to my Equity Advisor or Relationship manager?
No, you can't give request to your Equity Advisor or relationship manager as there is only a dedicated number and dedicated executive to handle such physical delivery requests. You are required to call on the dedicated numbers provided on the open position/order page and give the request for Physical Delivery in the specified Contract which you wish to take physical delivery.
Can I place request for part position or specify the number of lots for which I wish to take Physical delivery in the specific contract?
No, only full contract position will be marked for physical delivery settlement. Hence you are requested to ensure only the required quantity of open position is kept open by you else you square off the balance by the cut off time when the provisional process will be done by I-Sec for blocking of shares/funds else the position may not be marked for delivery and may get square off in the EOS square off process due to shortage of shares/funds not available to meet the provisional requirements. Please also note that in case there is further trading done you in that contract or pending orders get executed post the provisional blocking process is run then the full contract position remaining open at EOD will be considered for delivery and you will need to keep sufficient shares / funds as required for the same as per the final exchange delivery files received. Please keep only required open position quantity in the specified contracts and ensure to cancel pending order or square off positions and do not place further ordrs in such contracts where you have given request for physical delivery.
Full Quantity includes = Executed quantity + pending order(s) quantity.
What incase if I want to take Physical delivery of only 1 lot or part position in the specified conatrct?
In case you wish to take delivery of only 1 lot or part position then you are required to square off the conatrct position quantity for which you do not wish to take physical delivery and maintain sufficient shares/funds as required in that same contract before giving call on the dedicated number displayed for this purpose. Also please ensure that you keep these required shares/funds maintained in your account throughout for the provisional process to successfully block and keep your position marked for physical delivery else the contract may get squared off in EOS.
What if I want to take Physical delivery of only executed quantity and not the pending orders in the same contract?
In that case you will have to ensure that you cancel all the pending orders for which you do not wish to take delivery or ensure execution and square off such contract quantity once you give request for Physical delivery in that contract.
What if I do not have sufficient margin (shares/ Funds) required for Physical settlement at the time of provisional process run?
If you do not have sufficient free margin (shares/ funds) that is required for the Physical settlement in the contract in which you wish to take Physical delivery than that contract will be squared off in the EOS process.
Where I need to keep the margin (Shares/ funds) required for Physical settlement?
You will need to allocate or maintain the funds allocated for the full contract value in case of buy i.e. funds payable contract open positions (like Long future, Long call and Short put) in the F&O allocation. In case of sell positions (like Future sell, Option Call sell and Option Put buy) you will need to keep sufficient free shares in the demat allocation of your linked demat account.
What if my shares are blocked for SAM, in case I choose to take delivery in the contract of the same underlying?
You will have to unblock the shares in case your shares are blocked/ pledged as margin. The Shares required in your Demat account should be available in free balance for the physical delivery marking to happen successfully. The shares should not be blocked for any other requirement and your demat account should not be in freeze/suspended or such status where blocking / debit of shares cannot take place; else your positions will be squared off in the EOS process and will not be kept open for taking delivery.
Will the funds/ shared blocked before EOS run will be final or do I need to keep more funds/ shares?
The shares/ funds blocked before EOS processes will be on provisional basis and you will need to keep sufficient balance as per the exchange final settlement requirement which is received from exchange post expiry of the contracts post market hours.
When will I come to know the actual obligation of shares/ funds required for positions which I will receive Physical delivery?
The actual Physical Delivery obligation will happen basis the final file received from exchange after the expiry post end of market hours and in case there are shortage of shares in customer accounts at EOD basis the final settlement file then there would be auction for the shortage of shares and such auction charges will be passed on to you and need to be borne by you. In case of shortage of funds in your account on the basis of final settlement file the same will be recovered from your account for any differential/full requirement.
What in case if I have placed sell order which got executed in Equity segment, in the same underlying in which shares are payable by me for the contract (Future sell, Option Call sell and Option PUT buy) which I have wish to choose Physical settlement?
In case you don't have sufficient free shares in the Demat account due to any reason then that position(s) will be auctioned by the exchange and the auction charges will be passed on in your account.
Do I need to maintain the Long Option Delivery Margins (LODM) in case I have given request of Physical delivery settlement for my Long option ITM contract position?
Yes, you will have to maintain the required LODM margin along with the full physical delivery obligation, in case you have given request of Physical delivery settlement in Long Options ITM contract positions.
Will I need to maintain intraday MTM margins if I give intent for Physical settlement in any contract?
Yes, you will have to maintain intraday MTM margins also along with the full physical delivery obligation, in case you have given request of Physical delivery settlement in any contract.
Can I give request for Physical delivery settlement in the next month contracts?
No, you cannot give request of Physical delivery settlement in the next month contract. The request will only be taken on the expiry day for the current month expiring contract or for the Adhoc expiring contracts on that day. Requests cannot be given for next month and far month contracts or contracts which are not expiring on that day.
Will there be any extra charges on the contract which I wish to take Physical settlement?
Yes, the contract which are Physically settled then on such legs that are physically settled in such contracts then Delivery brokerage will be charged on the Physically settled leg.
How can I give delivery request if I have an e-DIS account (POA is not given by me) and I wish to take delivery for Future sell, Option Call sell or Option Put buy contract positions ?
In case of eDIS account (i.e. Non POA accounts) if you wish to give delivery request for contract positions where shares are deliverable (Future Sell, Call Sell or Put Long) then you are required to give e-DIS mandate for the stock in your Demat allocation and only then you will be able to take physical delivery in F&O Stock contract positions.
How do I know if I am an e-DIS customer?
If you have not given Power of Attorney (POA) to ICICI Securities Limited during account opening, then you are an e-DIS customer.
How do I give e-DIS mandate for the Stock shares in my Demat Allocation?
In order to give e-DIS mandate, you will need to follow the below steps:
- Visit the 'Demat Allocation' page
- Either click on 'Add Mandate' link besides each stock or click on 'Mandate All' link for all stocks
- On clicking either of the above links you will be redirected to NSDL e-DIS mandate page to complete a 2 factor authentication by entering:
MPIN and click on 'Submit'
OTP (OTP will be received on the mobile number/email id registered with NSDL. You have to enter OTP and then click on 'Hold and Place order' option on NSDL site).
What is the validity of the e-DIS mandate given?
The validity of the e-DIS mandate is T day i.e. your mandate will expire by EOD of the day on which you have given mandate and hence you are required to give e_DIS mandate on the day of expiry for the stock contract positions where you wish to take physical delivery else the blocking may fail and position may get square off or TIFD/debit of shares may fail and auction may take place in case exchange assigns delivery and there is no e-DIS mandate or insufficient mandate quantity and you will need to bear the auction charges applied.
What in case if I am e-DIS customer and do not take mandate or mandate proves invalid due to any reason?
If you are e-DIS customer and you do not have a valid e-DIS mandate required for the position you have chosen Physical settlement then such positions may get squared off or if physical delivery obligation is received then may go for Auction and the Auctions charges will be passed on in your account and will need to be borne by you.
What in case the pending order gets executed and that much free quantity for Physical settlement in not there in my Demat account?
If there is any shortage of shares in the free balance in your demat account due to any case then the full position will go for Auction and Auction charges will be passed on in your account and will need to be borne by you.
What should I do if I want to take Physical delivery of my stock derivative positions?
On the expiry day of the contract you have to select 'Choose Delivery' on Open position page against the open position contract in which you choose to take delivery. You can choose this option for single contract or multiple contracts and the entire open positions quantity including the pending order quantity, if any would be deemed to be marked for physical delivery by you. You can do so by visiting the path F&O - Open position Page- Actions Column- More option- Choose Delivery. You can opt for the online 'Choose Delivery' option on expiry day by logging into the website or low bandwidth site or calling the call center to give your delivery intent and ensure to keep sufficient funds/shares as applicable to meet the delivery obligations for such positions.
What should I do if I have given intent for Physical delivery by opting 'Choose Delivery' against my open derivative positions but want my position to be cash settled?
You have to select 'Choose Non-Delivery' on Open position page against the respective contract position by visiting the path F&O- Open position Page- Actions Column- more option- Choose Non-Delivery for the position you had earlier marked for delivery. Alternatively, you may want to square off or Rollover the position using the respective link given for these actions on open positions page against your positions marked for delivery.
If I have multiple demat account will the procedure to give delivery intent be same?
In case you have multiple Demat accounts you can follow the below process, in case of:
a. Shares receivable (Buy) Position: You can opt the above mentioned online 'Choose Delivery' link on expiry day to give your request for Physical Delivery.
b. Shares Payable (Sell) Position: In case you have multiple demat accounts and you wish to take delivery of your open position resulting in shares payable obligation, you have to give your delivery intent by calling us on 9321410550 on the expiry day by mentioning the demat account number which you wish to give for meeting the obligation and ensure to keep sufficient free shares in that particular demat account. Please note you will not be able to use the online 'Choose Delivery' link option in case of share payable position with multiple demat accounts.
Kindly note in case of single demat account your physical delivery requests can be placed only online and will not be entertained in offline mode using the calling option.
Once I place request for Physical Delivery, will all my positions in derivatives get marked for Physical settlement?
No, all positions will not be marked for Physical settlement. Only the Contract positions in which you wish to take delivery as per the process mentioned above will be considered for physical settlement.
From when can I give intent for Physical settlement in any contract, which I wish should be Physically settled?
Only on the expiry day before 1p.m. you can give intent in any contract you wish to take Physical settlement by following the process mentioned above.
Can I give this intent to my Equity Advisor? (will this process still be valid or removed)
Yes, in case due to any reason you are offline and not able to do it online through your log in then in such exceptional cases you may give delivery intent to your Equity Advisor or Call Centre mentioning the specific contract you wish to take delivery and keep sufficient funds/shares required to meet the delivery obligation.
Can I place request for the number of lots for which I wish to take Physical delivery in the specific contract?
No, you cannot give request of the specific lots for Physical settlement. The full open position quantity in the contract which is marked for Physical settlement will be picked for Physical delivery provided the delivery obligations are met in your account. Full Quantity includes =Executed quantity + pending quantity (which may get executed and remains open at expiry).
What incase if I want to take partial Physical delivery of say only 1 lot out of total open lots of 2,3,4 ?
In case you want to take part delivery of only 1 lot or specific lots then you need to square off all the additional lots forming part of the open positions (in lots) in the same contract before selecting 'Choose Delivery' option against your open position.
What if I do not have sufficient obligation in the form of Shares/ Funds required to meet at expiry for Physical settlement of the opted positions?
If you do not maintain sufficient free shares/ funds to meet the expected delivery obligation that is required for the Physical settlement in the contract in which you wish to take Physical delivery then that contract will be squared off in the End of Settlement process which is run before the expiry and positions will not remain open for delivery settlement.
Where do I need to keep the required delivery obligation in the form of Shares/ funds required for Physical settlement?
You will have to allocate the full contract value in case of buy/shares receivable positions (Long Future, Long Call and Short Put) in the F&O segment Limits allocation. In case of sell/shares payable positions (Sell Future, Sell Call and Long Put) you will have to keep sufficient free shares in the demat allocation.
Will the funds/ shares blocked before the EOS run be final or do I need to keep more funds/ shares as part of physical settlement obligation?
The shares/ funds blocked before EOS processes will be on provisional basis. However, you are required to monitor your open positions and their prices and always allocate extra funds/shares required for your positions marked for Physical settlement as the final obligation will be as per the exchange file received.
When will I come to know my actual obligation of shares/ funds required for positions which I have placed request for Physical delivery?
The actual Physical Delivery will happen basis the final file received from exchange after the expiry and in case there are shortage of shares in your account at EOD basis the final settlement file then there would be auction for the shortage of shares and such auction charges will be passed on to you and customers will be required to bear such charges form their account. In case of shortage of funds in your account basis of final settlement file the same will be recovered from your account.
What in case if I have placed sell order which got executed in Equity segment, in the same underlying in which shares are payable by me for the contract (Future sell, Option Call sell and Option PUT buy) against which I have choosen delivery for Physical settlement?
In case you don't have sufficient free shares in the Demat account due to any reason then that position(s) will be auctioned by the exchange and the auction charges will be passed on in your account.
Do I need to maintain the LODM margin of 100% in case if I give intent of Physical settlement in Long ITM contract?
Yes, you will have to maintain the required LODM margin also, though you have given request of Physical settlement in Long ITM contract.
Will I need to maintain margins required under intraday MTM if I have given intent for Physical settlement in any contract?
Yes, you will have to maintain sufficient margins required to safeguard your positions during the intraday MTM even though you have opted to take Physical settlement delivery in any contract.
Can I give intent for Physical settlement in the next month contract?
No, you cannot give intent of Physical settlement in the next month contract. The intent will only be taken for the current month expiry contract on the expiry day or on Adhoc expiry day in contracts part of adhoc expiry by exchange. Next month and far month contracts intent will not be taken on the expiry day of current month.
I have an eDIS (non POA) account, can I wish to give delivery intent against my derivatives positions?
Yes, all customers irrespective of eDIS or POA accounts can choose delivery and give delivery intent for physical settlement against their derivatives open positions. Please note apart from the process mentioned in the above FAQs for giving delivery intent you will additionally need to give Mandate for the 'Shares Payable' position in case you have an eDIS account similar to the way you give mandate for Equity Sell transactions.
What are the ways to give mandate if I wish to 'Choose Delivery' for my Shares payable open positions in Future sell, Option CALL sell and Option PUT buy if my account is an e-DIS account?
There are two ways in which you can give mandate if you have an eDIS account and wish to give delivery intent:
1. You can visit the Demat allocation page and choose 'Mandate' or 'All Mandate' in case you wish to take delivery of your shares payable positions. This can be done before hand on expiry day before you choose delivery.
2. In case you have not done the above in advance and happen to 'Choose Delivery' then on clicking this link you will be redirected to the Demat allocation page where you can first give Mandate and again visit the F&O Open positions page and choose delivery for the respective position.
What are the steps required to be followed to complete the mandate in my eDIS account for my shares in Demat Allocation?
In order to give mandate, you need to follow the below steps:
1. Visit the 'Demat Allocation' page
2. Either click on 'Mandate' link besides each stock or click on 'Mandate All' link for all stocks
3. On clicking either of the above links you will be redirected to NSDL e-DIS mandate page to complete a 2 factor authentication by entering: MPIN and click on 'Submit'
4. OTP (OTP will be received on the mobile number/email id registered with NSDL. You have to enter OTP and then click on 'Hold and Place order' option on NSDL site).
What happens if I am an e-DIS customer and do not give mandate or mandate proves invalid due to any reason and there is physical delivery for the positions open in my account?
If you are an e-DIS customer and your account does not have the required mandate (to debit the shares to meet physical delivery) for the position remaining open in your account (where you choose Physical settlement or position was not squared off and remains open on expiry) then your open positions will go for Auctions and Auctions charges will be passed on in your account.
What if in case the pending order got executed or my position remained open without sufficient funds/quantity for Physical settlement?
If there is any shortage of funds/ securities in the account due to any reason in that case the open position may get squared off on best effort basis by I-Sec in the EOS process and if not squared off and remains open at expiry then the physical settlement obligation in the form of shares or funds or auction charges applicable, if any for that full position will be passed on in your account.
Where can I check the status of my request placed for 'Choose Delivery' for Physical settlement?
You can check 'My message' for the request placed for Physical settlement. Or, all the positions in which delivery intent is given can be viewed by clicking on 'Delivery Mode details' link on the Open position page.
Will I be able to see the final Obligation delivered to me and at what rate?
Yes, you can visit online Trade book page- Delivery Obligation link, where you will be able to see the final delivery obligation from exchange for your account on expiry day after the EOD processing. Also you will be able to see if there are any outstanding delivery obligations required to be met from your side.
Can I now trade in Futures and Options on BSE?
Yes you can now trade in Index Futures and Options on BSE. Only contracts that meet the liquidity criteria will be enabled for trading at the discretion of I-Sec.
Can I now trade in Index and Stock Futures and Options on BSE?
You can trade only in Index Futures and Options on BSE. Currently, stock futures and options will not be enabled for trading on BSE.
Can NRIs trade F&O on BSE?
No. NRIs can continue to trade in F&O on NSE only.
Will I get reduced margin benefit on spread position taken on BSE?
You can take spread positions on BSE but you will not get any reduced margin benefit for such spread positions taken on BSE. You can continue to enjoy the reduced margin benefit on your spread positions taken on NSE.
Will I get SPAN margining on BSE if I am mapped to SPAN margining on NSE?
Currently, SPAN margin option is available only for NSE and even if you are mapped to SPAN for NSE, non SPAN margining would be applicable to your BSE F&O transactions. The normal non SPAN margin related FAQs have been provided in the above section for Futures and Options.
Can I Trade BSE derivatives on ICICIdirect platform?
We will soon come out with this facility. Currently we don’t provide trading facility for BSE derivatives.
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