What is unique about ICICIdirect e-invest account?

Your ICICIdirect e-Invest account is more than a brokerage account. It offers you a unique 3-in-1 feature, which integrates your Brokerage, Bank and one or more Demat accounts. This means that you can buy and sell shares and forget about the hassles of settlements. Transfers of shares from/to your Demat account and transfer of money from/to your Bank account take place automatically with no paperwork. Online investing is just a click away and settlements is no longer a problem.

What is the 3-IN-1 concept?

ICICIdirect e-Invest account allows you to integrate your ICICIdirect Brokerage Account, your Bank account and one or more Demat accounts. Currently the Demat Account has to be opened with ICICI Bank Ltd as the Depository Participant (DP) and the Bank Account has to be opened with ICICI Bank Ltd. as the Banker. You can choose the branch closest to you to open your bank account.

Can I have multiple Demat Accounts linked to e-invest account?

Yes, you can link multiple Demat accounts to your e-Invest accounts with a maximum of 4 accounts.

Can I have multiple Bank accounts linked to my e-invest account?

No, as of now you can only link one Bank account to your e-Invest account.

If I already have a Demat/Bank account with other Bank or Depository?

To avail of the advantage offered by the integration of the brokerage, Bank and the Demat account, all the three accounts will have to be opened with ICICI group.

Who is eligible for this service?

All resident Indians and non residents (NRI) residing in Gulf Co-operation Council (GCC) countries of United Arab Emirates,Saudi Arabia, Bahrain, Kuwait, Oman and Qatar are eligible to avail of this service.

How do I become an ICICIdirect customer?

You can open an ICICIdirect e-Invest account by filling a single application form. This form will help you open an ICICIdirect Brokerage Account along with a Bank Account and one or more Demat accounts as required.

How do I request a form?

You can request our representative to visit you (Select Cities Only) by registering online through our website. You could also visit any of the following ICICI Bank Branches / Centres,where our trained personnel help you in becoming ICICIdirect e-Invest customer. Alternatively you can request us for a form by sending us an e-mail at helpdesk@icicidirect.com and our CSE will contact you to complete the initial account opening formalities.

I have sent in my application, what happens next?

Your application will be processed and you will be informed once your application is accepted and all the required accounts are set up. In case your application is not processed because of lack of some details, you will be contacted by our representative or by mail.

How do I know my application has been accepted?

"You can check your account opening status on www.icicidirect.com on the customer service page under the "Know your account status" section. We shall also inform you by e-mail in case your application has been accepted."

Do I have to maintain any minimum balance in my Bank Account?

All the new bank accounts opened will have to maintain minimum Monthly Average Balance (MAB) of 5000/-.

What all documents will I receive once my ICICIdirect Account is opened ?

Once your ICICIdirect Account is opened you will get the following documents at your mailing address:
1. Pin-mailer containing the User Id and password for your ICICIdirect Account will be send by ICICI Securities Limited.
2. ICICI Bank Limited will dispatch the Cheque Book and ATM cum Debit Card in case a new saving account is opened.
3. Membership Guide and Internet Banking User ID and password for Demat Account will be dispatched by ICICI Bank Demat Services.

Please note: Transfer Instruction For Delivery (TIFD) Booklet for newly opened demat account with ICICI Bank will not be dispatched. To request for the same, please download the REQUISITION SLIP and submit the same at any of the nearest ICICI Bank Branch offering demat services. You can also contact our Customer Care Numbers for placing the request over the phone.

When is a trading account termed as 'Inactive / Dormant' ?

A trading account in which no trades are done across any segment of any Exchange for 12 months would be termed as "Inactive" or "Dormant" trading account. I- Sec does not freeze any "Inactive" or "Dormant" trading account. However any trade emanating from such trading accounts pursuant to the same being classified as "Inactive" or "Dormant" trading account would be subject to necessary due diligences and confirmations as I-Sec may deem fit.

If I already have a ICICI Bank account and a ICICI Demat account, can I use these accounts for online investing?

Yes, you just need to tell us the account details and we shall link up your existing accounts with ICICIdirect e-Invest account for online investing. You can link up only an existing Bank account or only one or more Demat account(s) or both the existing Bank account and Demat Account(s). However, at present, your ICICI Bank account on which you have opted for Quantum Optima cannot be linked. Anyway, you can always opt to open a new Demat and Bank account with your ICICIdirect e-Invest account.

What type of Bank Account can I use with my e-invest account?

You will need an ordinary savings account with ICICI Bank Ltd for your e-Invest account. You can specify the account in the form and it will be linked with your e-Invest account. In case you do not have a ICICI Bank account, an online banking savings account can be opened with an e-Invest account.

How frequently will I be able to know the status of my accounts?

The information of your Bank, Demat and e-Invest account shall be available to you completely online 24 hours a day through the Internet. You will be able to access all details regarding your orders and trades on the website. You will be able to see the results of your trade reflected in your Bank and Demat account on the trading +1 working day and trading +2 working days of the settlement, without waiting for the statements from the DP and the Bank.

What is a ICICI Bank Online Banking account?

ICICI Bank's Online banking service is known as Infinity. The Bank account opened with your e-Invest account is an Infinity Bank account. Infinity service can be accessed on the website www.icicibank.com with a secure Logon Id and Password. Apart from allowing you to access your transaction history and current balance, Infinity allows you to transfer money from one account to another and also make online bill payments in Mumbai.

If you have opted for a new online bank account of have opted to link up your existing saving account (which was not registered with Infinity), your Logon ID and Password will be mailed to you separately. However, this does not stop you from trading on ICICIdirect.com.

I am a new customer and have just been informed that my ICICIdirect e-invest account has been set up. How do I make my first trade?

Please check our comprehensive section on Trading Guide

I want to buy some shares . I do not have any money in my Bank Account. What do I do?

Please deposit a cheque/cash in your Bank Account by filling the pay-in slip. In case of a cheque, the money should come into your Bank account as soon as the cheque is cleared. Once you have funds in your bank account, you need to allocate the required amount for trading. Alternatively you can sell some shares from your Demat Account in the Cash Segment and use the money to purchase the shares you want to buy. The amount of money required before placing a buy order or a margin sell order would depend on the value of the order.

I have deposited a cheque but I am still not able to place a purchase order:

There could be two reasons for this either the cheque is not cleared or you do not have adequate Trading Limit.

Please check your Bank balance to find if you have adequate money in your Bank account. It is possible that there could be some delays in clearance of the cheque. Please contact your ICICI Bank Branch to find the reason.

Even if you have adequate money in your Bank account you will get limit only after you allocate some money for trading or investment.

Can I withdraw the amount allocated for trading?

The way you can allocate funds for trading, you can always reduce the amount allocated by you for trading to the extent that the amount allocated has not been blocked on account of orders placed by you. Once any amount is deallocated, it can be withdrawn from the bank.

Can I borrow or get a line of credit against my Demat Account?

Currently, we are not offering this service. But, we are evaluating ways to add to our product range. We would appreciate if you could give us feedback on the facility you want.

On which exchanges will I be able to buy and sell shares?

ICICIdirect offers its customers execution capability on the National Stock Exchange of India Ltd. (NSE) and Bombay Stock Exchange (BSE).

What kind of orders can I place?

You can place both market and limit orders.

Limit Order is an order to buy or sell securities in which you specify the maximum price per unit in case of a Buy order and the minimum price per unit in case of a Sell order. The actual transaction can be at a price more favourable than the price specified.

Market Orders have different interpretations for both NSE and BSE.
Market Orders in NSE : This is an order to buy or sell securities at the best price obtainable in the market at the time it is matched by the exchange. Therefore, chances of its getting executed are better. In case of market orders for NSE, all market orders placed which are not executed become limit orders at the last traded price. Where a market order is not executed fully, it becomes a limit order for the balance quantity at the last traded price.

Market Orders in BSE : Explanation

Market orders can be placed only during market hours (i.e. when the Exchange is open for trading)

Which shares will I be able to buy and sell?

You will be able to buy and sell shares in the Cash Segment that are traded in the compulsory dematerialised form on the exchanges. As of date, you may trade in more than 1100 scripts in NSE and more than 3000 scripts in BSE through ICICIdirect.com. More and more shares are being added to this category every month by the regulatory authorities. Of these shares, you may place orders for select shares in the Margin Segment.

Do I get online confirmation of orders and trades?

Yes, you get online confirmation of orders and trades - the status of any order is updated on real-time basis in the Order Book. As soon as you place your order they are validated by the system and sent to the exchange for execution. The entire process is fully automatic and there are no manual interventions. You will also receive an e-mail confirming the orders placed by you at the end of the trading day. Digitally signed contract notes will also be sent via e-mail for the orders executed during the trading day. The digitally signed contract notes are also available on the Customer Service page on the site.

Is it possible that an order is accepted by the exchange but a trade does not take place against it? Is an order always executed for the full quantity? Is it always executed at one price?

Very much. In case of a limit order, it might remain totally unexecuted if there are no matching orders. For example, if you place a sell order for 100 shares @ 100 per share. It might remain totally unexecuted if there are no buy orders for the share for a price of 100 or more. Further, an order can get executed for any quantity less than or equal to the order quantity. On part execution, the original order is converted into an order for the balance quantity against which another trade can happen. Since these are different trades, it is possible that the trades are executed at different price.

In case of market orders placed on NSE, even a market order might remain unexecuted if there are no matching orders. In such cases, the unexecuted portion of the market order is converted into a limit order at the last traded price for the balance quantity. For example, when the last traded price of a share was 100, if a market order is placed to sell 100 shares, the sell order will be matched against all limit orders for buying the shares. In case there are no or insufficient orders for buying 100 shares, the unexecuted market order is converted automatically into a limit order to buy sell 100 shares at a price of 100 (the last traded price). In case the order was partly executed and the last execution took place at 95, the price of the limit order for the balance quantity would be 95.

In case of market orders placed on BSE, all buy market orders go to the Exchange with the price of the best offer and all sell market orders go to the exchange with the price of the best bid offer. In case at that point of time it is found that that particular bid or offer is no longer present in the exchange this market order gets cancelled by the exchange. In case of part execution of market order, the remainder order gets converted into a limit order at the last executed price.

Can I modify my order?

Yes, you can modify an order any time before execution. You can do this by accessing the Order Book page and clicking on the hyperlink for 'Modify' against the order which you wish to modify. However, you cannot modify your order while it is queued with the exchange, i.e., confirmation is awaited from the exchange for the acceptance of the placement of any order or any modification/cancellation request. In case the order is already partly executed, only the unexecuted portion of the order can be modified.

Can I cancel my order into the system?

Yes, you can cancel an order any time before execution. You can do this by accessing the Order Book page and clicking on the hyperlink for 'Cancel against the order which you wish to cancel. In case the order is already partly executed, only the unexecuted portion of the order can be cancelled.

Can I enter orders after the trading hours? What happens to such orders?

Yes, you can enter limit orders after trading hours. Orders placed after trading hours are queued in the system and are send to the exchange whenever the exchange next opens for trading in the pre-open session / normal. In the Order Book, the status of such orders is shown as 'Requested'.

Do I need to have money before buying of shares?

Yes, you need to have money in your Bank account before placing an order. Alternatively if you have sold some shares, the sale proceeds can be used to buy the shares you want.

Can I go short?

Yes, you can go short in the 'Margin Segment'However, such Sell positions need to be closed out before the specified time before the end of the settlement. You cannot go short in the Cash Segment'. Here, you can sell only those shares which are there in your demat account.

How will I be informed of my trade execution?

The trade executions are confirmed online and the trading history is updated immediately. In the Order Book, the status of each order is updated on a real-time basis. On execution, the status changes to 'Executed' or 'Part Executed'. You can view details of the trade executed by clicking on the link. In the Trade Book you will be able to see all the trades that have taken place. On clicking the link of Order Ref. No. you will be able to see details of the trade execution. In addition, you will receive e-mail confirmations. You can choose to receive the e-mail confirmation either for each trade when it is executed or a single one for all trades at the end of the day. The contract note will be send to you by mail at the end of the day.

What is a contract note?

Contract note is a statement of confirmation of trade(s) done on a particular day for and on behalf of a client. A contract note is issued in the prescribed format and manner, establishing a legally enforceable relationship between the member and client in respect to the trades stated in that contract note. Contract notes are made in duplicate, where the member and client both keep one copy each.

Can I trade on margin?

You can trade on margin on select stocks.

What is IOC order ?

An Immediate or Cancel (IOC) order allows the user to buy or sell a security as soon as the order is released into the system, failing which the order is cancelled from the system. Partial match is possible for the order and the unmatched portion of the order is cancelled immediately.

At ICICIdirect.com, all orders accepted are valid for "Day"( One trading day only) or can be IOC as currently permitted by exchange . Any unexecuted order pending at the end of the trading session for the day gets expired.

What is a Disclose Quantity (DQ) order?

Normally, the order quantity is disclosed in full to the market. An order with a Disclosed Quantity (DQ) condition/attribute allows the Trading Member to disclose only a part of the order quantity to the market. For example, an order of 1000 with a disclosed quantity condition of 200 will mean that 200 is displayed to the market at a time. After this is traded, another 200 is automatically released and so on till the full order is executed. In NSE, the DQ (Disclosed Quantity) should not be less that 10% of the Order Quantity and at the same time should not be greater than or equal to the Order Quantity. In BSE, the DQ (Disclosed Quantity) should not be less than either 10% of the Order Quantity or 1000 whichever is lower and at the same time should not be greater than or equal to the Order Quantity.

What are price bands?

The exchanges have fixed price bands for all t securities within which they can move within a day i.e +-20%. In case of scrips on which derivatives products are available there is a price freeze of +/-20%.Orders outside the minimum and the maximum of the range are not allowed to be entered into the system. However in case of few specific scrips, from time to time the exchange has fixed price band of less than +/-20%.The previous day's closing price is taken as the base price for calculating the price bands.

In case a member wants to execute a trade beyond +/-20% freeze (derivative scrips) then he will have to request the exchange to relax the price freeze for his particular order.

What is Price Improvement order in Cash?

Under Price Improvement order, customer would be able to place cash orders with Trailing Stop Loss condition, where the Stop Loss Trigger and Limit price would auto update as per the market price movement and Stop Loss update condition defined by I-Sec for the concerned stock. Trailed SLTP and Limit Price (auto updated) will be better than the SLTP and Limit Price entered by the customer hence this will improve the order price.

Stop Loss update condition for stocks can be seen from the 'Stock Lists'.

Can I place Price Improvement order in NSE and BSE?

Yes, you can place Price Improvement order for trading in both NSE and BSE.

Can I place Price Improvement order at any time during the day?

You can place Price Improvement order any time during normal session of market hours. Please note you cannot place orders in this product before or after market hours.

Can I place market or only limit price order in Price Improvement order?

No, only SLTP orders are allowed under Price Improvement order. However you can modify already placed Price Improvement order to normal cash order as a limit or market order.

Can I place Price Improvement order in all stocks?

Only selected stocks have been enabled for trading under Price Improvement Order in Cash. Only those stocks, which meet the criteria on liquidity and volume have been enabled for trading under this product. I-Sec reserves the right to select the stocks for Price Improvement Order product and may, at its sole discretion, include or exclude any stock for trading in this product without any prior intimation.

From where do I place Price Improvement order in Cash?

You can place Price Improvement order by visiting the new 'Advanced Order' under the Equity trading section."

What is Stop Loss Update condition?

It is the price interval on the basis of which value of ?LTP at next SLTP update? is calculated. Once the LTP of the stock reaches or breaches this value then the Price Improvement order will trail with the updated SLTP and Limit price.

For example, say LTP of Sintex Industries (SININD) is 100 and SLTP Update condition is 2. For a sell order, this implies that if LTP moves to 102 only then order will trail by modifying the SLTP and limit price and if the LTP remains below 102 then SLTP will remain unchanged.

What is Market Before Close (MBC)?

Market Before Close (MBC) is a feature where all pending Price Improvement orders with MBC selected will be modified to market at a pre-defined time. This feature will increase the probability of orders getting executed.

Which order details can I modify in a pending Price Improvement order?

You can modify quantity, order validity, order type, SLTP, limit price, trailing Stop Loss and MBC condition.

Can I modify Price Improvement order to normal cash order and vice versa?

While order modification you can modify Price Improvement order to a normal cash order by unchecking the trailing stop loss checkbox but modification of a normal cash order to Price Improvement order is not allowed.

How many times an order can be modified?

An order can be modified to a maximum of 96 times. Price Improvement order will not trail if this no. of modifications have already been done.

What is Trailing amount? Is there any minimum trailing amount which must be maintained for Price Improvement order?

Trailing amount is the absolute price difference between LTP and SLTP for a Price Improvement order. You cannot keep this difference less than the minimum trailing amount defined for a stock.

Minimum trailing amount for a stock can be seen from the 'Stock lists'.

How the Price Improvement order will trail?

You can refer to the below example to have a better understanding of the Price Improvement order:
Assume LTP of Sintex Industries (SININD) is 100 and SLTP Update condition is 1. For a sell Price Improvement order you enter SLTP as 98 and Limit Price as 96. Now if LTP moves to 101 then order will trail with SLTP as 99 and limit price as 97. But if the LTP moves down to 100 then SLTP will remain unchanged. If SLTP does not get triggered during the day and you have MBC selected then this order will be modified to market at a pre-defined time.

What will happen to my pending Price Improvement order if the SLTP Update condition is changed during the day?

If the SLTP update condition is changed during the day then the next trail (not immediate trail) of your pending Price Improvement order will happen according to the changed SLTP update condition.

What will happen if my Price Improvement order gets triggered and remains pending?

Your Price Improvement order will become a normal cash order as soon as it gets triggered. This means it will no longer have the trailing stop loss feature and will not trail. This pending normal cash order will also not be modified to market in the MBC process since it is not a Price Improvement order.

Will my part executed Price Improvement order trail for the remaining open quantity?

No, as explained above once your order gets triggered it will become a normal cash order which will not have the trailing stop loss feature and hence won?t trail.

What if my Price Improvement order does not get execution during the day?

If your Price Improvement order does not get execution then this order will get expired post market hours. You can place a fresh Price Improvement order for the next trading day.

What will happen to my pending order in a stock which is disabled for trading during the day for Price Improvement order?

Your pending improvement order will not have any impact even if the stock is disabled for trading under the product. However no new Price Improvement orders will be allowed in that stock.

Can I select Market Before Close for a Price Improvement order after the MBC process is run?

No, you cannot select Market Before Close for a Price Improvement order after the MBC process is run.

What will happen to the orders which remain unexecuted even after the MBC process is run?

Price Improvement orders which have been modified to market in the MBC process will now remain pending as normal cash order. You should refer to the status of the order and act accordingly.

How the funds will be blocked under Price Improvement order?

Funds will be blocked as existing like Cash, which is 100 percent of the order value in case of cash buy based on your order limit price. In case of auto (system) modification of Price Improvement order, funds which were blocked on order placement or customer modification, will be released but will be blocked till the total order value.

Will my Price Improvement order trail when the price feeds for a stock are not received?

Your Price Improvement order will not trail for a stock whose price feeds are not received.

Will my Price Improvement order trail for the price feeds received when the order acknowledgement process is underway?

Your Price Improvement order will not trail for the price feeds received between the time when order modification is sent to the exchange and its acknowledgement is received.

Is there any difference in cash and security settlement for a Price Improvement order and cash?

Since Price Improvement order is a cash order so there is no difference in the settlement part for Price Improvement order from normal cash order.

What is Multi Price Order in Cash ?

Multi price Order are orders wherein you can place order with two prices, first being the normal Limit Price and second price will be based on "Second Order type". Second order type can either be a Limit order or a Market order, as per your choice. In case you choose to place Multi Price order with "Second order type" as 'Limit' then you will be required to enter the Second Limit Price at which your order will be modified by I-Sec at a pre-defined time near market close.

Can I place Multi Price order in NSE & BSE ?

Yes, you can place Multi Price Order for trading on NSE and BSE.

Can I place Multi Price order in all products under Equity?

You can place Multi Price orders in Cash (Buy/Sell), Flexi Cash (Buy/sell) and Spot products (only Sell).

Can I place Multi Price order at any time during the day ?

You can place Multi Price order during the day as per existing timings allowed for normal order placement for above mentioned Equity Products.

From where do I place Multi Price order in Cash?

You can place Multi Price order by visiting the new 'Advanced Cash Order' under the Equity trading section. You can also place Multi Price Order from Place Order page where 'Place Multi Price Order' link is available.

What is cut off time?

A Cut off time is a time which is pre-defined by I-Sec which will be near to market close time.

What is "Modify order at Cut Off time"?

In case of orders under Multi Price product if your order remains pending at the end of day then at pre-defined Cut Off time by I-Sec, your pending Limit Price order(s) will be modified from Limit Price to Second Limit price or from Limit to Market Price as per the Second order type and price chosen by you at the time of order placement.

Can I place market or only limit price order in Multi Price order?

Multi price order is order with two prices among which first price by default has to be a Limit Price only and second Price will be based on Second order type chosen by you as Limit or Market price at which I-Sec will modify your order.

Which order details can I modify in a pending Multi Price order?

You can modify fresh Limit Price, Quantity, Cut off Price i.e from Limit to market or vice versa or to a revised Limit Price.

What if my Multi Price order does not get execution during the day?

Multi Price order being Day order, if the order does not get execution then such order(s) will get expired post market hours. You can place a fresh Multi Price order for the next trading day.

What will happen to my pending order in a stock which is disabled for trading during the day for Multi Price order?

Your pending Multi Price order will not have any impact even if the stock is disabled for trading under the product. However no new Multi Price orders will be allowed in that stock.

How will the limits/funds be blocked for orders placed under Multi Price feature?

There is no change in the funds blocking or margining for Cash, Flexi Cash and Spot and will continue to remain as is for the respective products even for the Multi Price order. On placement of Multi Price order/modification by you the funds/limits will be blocked considering the first Limit Price at which order is placed/modified by you and sent to exchange. In case of modification of order at cut off time by I-Sec the funds/limits blocking will be done considering the Second order type price at the time of modification.

What If Sufficient Limit/funds are not available while System Order modification at Cut Off time?

If sufficient Limit/funds are not available at Cut off time while System Order modification then system will not modify order with Cut off time price and normal limit price Order will remain in the system as it is.

Is there any difference in cash and security settlement for a Multi Price order?

Please note there is no change in Cash/fund settlement or security settlement for Multi Price orders and will continue to remain same as existing products settlements.

Is there any additional charge or brokerage with regards to Multi Price?

There is no additional charge for Multi Price orders and existing brokerage and statutory charges and levies as applicable for Equity products would apply to Multi Price orders.

Why am I not able to place certain orders and conduct certain actions in this product?

As per Regulatory requirements regarding securities settlement, netting off of customer's trades has become mandatory. In order to comply with these regulatory norms, we have restricted certain orders and actions for the customers. In order to view the full list of restrictions please click here..

What is Buy Today Sell Tomorrow® (BTST®) ?

Buy Today Sell Tomorrow® (BTST®) is a facility offered by ICICIDirect wherein the customer will be able to sell the shares that he has purchased even before he receives the delivery of the shares from the Exchange. He will not have to wait till the time he receives the delivery from the Exchange thus increasing his liquidity.
Sell in BTST® is permitted only on T+1 and T+2 days (and not on T+3 i.e. after pay-in/pay-out of the Exchange).
Customer can place BTST order in any exchange irrespective of the exchange in which respective position has been taken.

How does the customer place an order in BTST® ?

The customer can place an order in BTST® by going to the Security Projections page and clicking on the BTST® Sell Hyperlink. The rest of the details which are required to be filled up are similar to that of a normal sell order.

Can BTST order be placed through normal Cash Sell order entry page?

Yes, BTST order can be placed through Cash Sell order entry page but while placing order system will check whether your order placement quantity is greater than the below, if yes then system will trigger multiple orders as explained in the below example.
1. Total Net Buy execution of the day
2. Demat Allocation Qty

Example: If day buy qty for ACC is 10, Demat Allocation qty for ACC is 20 and BTST Qty is 30 then-
Case 1:
If you are trying to place Cash Sell order in NSE for 45 qty then system will place multiple orders as mentioned below:
a. 30 Qty in NSE (Day Buy Qty + Demat Allocation Qty)
b. 15 Qty in NSE (BTST Qty)

Case 2:
If you are trying to place Cash Sell order in BSE for 45 qty then system will place multiple orders as mentioned below:
a. 30 Qty in BSE (Day Buy Qty + Demat Allocation Qty)
b. 15 Qty in BSE (BTST Qty)

What are the maximum number of shares that the customer can sell under BTST® ?

You can see the maximum number of shares which can be sold under BTST® under the column Maximum Quantity Permitted against the corresponding settlement number. This is being calculated by ICICIDirect after considering your buy position in the corresponding settlement and also on ICICIDirect's internal risk profile of that particular stock.

On the placement of a BTST® order, the order quantity is added to the existing blocked quantity, if any, and is shown as the blocked quantity in the security projections. The Available quantity now gets reduced by the blocked quantity. The customer can then place further BTST® order/normal sell order for the available quantity.

Why is quantity sold under BTST being displayed in both Blocked Quantity and also adjusted in current day quantity?


As per security settlement changes, quantity sold under BTST will also be netted off against same day transactions and this will be done in end of the day(EOD) processes. So, if customer sell under BTST then during the day that quantity will be displayed as blocked quantity for BTST and also displayed as same day transaction (adjusted along with other same day transactions if any). However, after EOD processes are completed for the day, quantity will get displayed according to netting off. Please note during the day although BTST quantity will get displayed reduced from net buy quantity of the day, you will still be able to place cash sell order up to net bought quantity of that stock.

Can BTST® facility be used even when the current settlement is going on ?

BTST® facility can be used only in case the settlement in which the shares have been purchased is over.

How many scrips are available for BTST® ?

Currently, BTST® is allowed for all NSE listed scrips however as per internal criteria for some scrips which have lower liquidity, scrips which are part of exchange GSM list and Fake SMS scrips etc., BTST® is not allowed. ICICIdirect can at its sole discretion add scrips or delete scrips to this existing list of scrips for which BTST® would be permitted.

What will happen in case the delivery for shares sold by the customer is not received from the exchange ?

BTST® is a facility whereby the customers are being allowed to sell their shares against their receivable position in the same shares from the same Exchange. However, in case there is a short delivery from the Exchange for the earlier buy transaction, then the BTST® customers will also be giving short delivery for their sell transaction. The Exchange would either give delivery of shares bought earlier through market auction or shall closeout the buy transactions as per the Exchange Regulations. However, this would not help the customer in meeting his sale delivery obligations already committed by him as even if he receives the shares bought earlier through auction settlement, by that time the securities pay-in date for his sell transaction would be over. In such case, the customer will have to face auction proceedings against his sale transaction and will have to bear the auction losses, auction penalties and any other incidental charges etc.
Exchange does not net off subsequent sell transaction against the previous buy transaction across the settlements and all the settlement obligations are settled settlement wise.

All cost and consequences of any auction arising out of such BTST® sell transactions shall be fully borne by the Customer and ICICIdirect would not be held responsible for any such short delivery received by the customer and the consequential impact thereof.
In case of short delivery, ICICIDirect will reduce the limits of the customer to the extent of the likely auction amount. On receiving the actual auction amount from the Exchange the limits will be adjusted to reflect the same and the auction amount will be recovered from the customer.

Can Non Resident Indians (NRIs) opt for BTST®?

No. NRIs are not permitted to opt for BTST®.

What would be the brokerage applicable ?

The brokerage rates will be the same as that are applicable for cash trades.

Whether the shares will get credited in my demat account?

In case the customer sells shares under BTST® facility, the securities bought by the customer in one settlement will be retained either partly or fully by ICICIDirect in its demat account for the purpose of meeting the pay in obligation of the customer towards the securities sold by the customer in the subsequent settlement(s).

Why is a part of my trade value for BTST® transactions being withheld for the day?

To comply with the regulatory requirements, for BTST transactions done on T+1 day in T+2 settled stocks, 40% sell value of your BTST transaction for meeting margin requirement will be withheld on T+1 day and remaining will be given as limits during the day for taking further exposure. 50% of this withheld value will be released in limits for the next trade date post market hours and the remaining 50% of this withheld value will be released in limits post market hours on T+2 day.
For BTST transactions done on T+2 day in T+2 settled stocks and on T+1 day in T+1 settled stocks, 20% sell value of your BTST transaction will be withheld and remaining will be given as limits during the day for taking further exposure. This 20% withheld value will be released in limits for the next trade date post market hours similar to cash sell transactions.

Eg. On 21st Sept BTST done against Buy of 20th Sept, BTST trade value is say Rs.100 then Rs.40 will be withheld & Rs.60 will be released in the limits instantly.
Out of Rs.40 withheld, Rs.20 (half of withheld) will be released at EOD for trade date 22nd Sept & remaining Rs.20 will be released in limits for trade date of 23rd Sept.

What is a Settlement cycle?

Please refer Learning Centre.

If I have purchased a share, do I have to take delivery?

Rolling Segment : You can choose to sell the share before the end of settlement cycle. However once the settlement cycle is over you have to take delivery by paying for it.

TT Segment : Settlement of securities will be done without any netting off of positions. If you have purchased shares, you will have to mandatorily take delivery. You will not be permitted to sell the same in the same settlement.

The Segment to which the stock belongs can be seen from the 'Stock List'.

If I have sold some shares, can I use the cash projections therefrom to buy other shares?

Settlement of funds is done on net basis for each segment. Therefore, Cash projections against sale of some TT Segment stock will be available for purchase of the same or another TT Segment Stock. Similarly, Cash projections against sale of some Rolling Segment stock will be available for purchase of the same or another Rolling Segment Stock.

However, there is no netting off between various Segments. Therefore, Net Cash projections against sale of one or more of TT Segment stocks will not be available for purchase of Rolling Segment Stocks in the same settlement. Similarly, Net Cash projections against sale of one or more of Rolling Segment stocks will not be available for purchase of TT Segment Stocks in the same settlement.

However, Net Cash projections of one segment will be available for purchases in another segment on the next trading day onwards since the cash pay-out day of the earlier settlement falls on or earlier than the cash pay-in day of settlement in which the purchase is sought.

The Segment to which the stock belongs can be seen from the 'Stock List'.

Why is a part of my sell trade value for Cash product transactions being withheld for the day?

As per regulatory requirement, the sell value of securities (where there would be early pay in) as reduced by the value of 20% upfront margin required shall be made available for taking other positions. Accordingly, to comply with this requirement 20% sell value of your Cash Sell transaction will be withheld and remaining will be given as limits during the day for taking further exposure. This 20% withheld value will be released in limits for the next trade date post market hours. In case any Cash sell trade is executed subsequent to a buy trade in the same stock for the same quantity in the same exchange then, such Cash Sell transaction becomes intraday and there is no margin required for such transaction (excluding BTST and CTD sell transactions) In the above scenario, if Sell trade was done first then the buy trade then, 20% Sell value will be withheld as the Sell trade will be treated as delivery transaction and will call for 20% margin.
For BTST transactions done on T+1 day in T+2 settled stocks, 40% sell value of your BTST transaction (for meeting margin requirements) will be withheld on T+1 day and remaining will be given as limits during the day for taking further exposure. 50% of this withheld value will be released in limits for the next trade date post market hours and the remaining 50% of this withheld value will be released in limits post market hours on T+2 day.
For BTST transactions done on T+2 day in T+2 settled stocks and on T+1 day in T+1 settled stocks, 20% sell value of your BTST transaction will be withheld and remaining will be given as limits during the day for taking further exposure. This 20% withheld value will be released in limits for the next trade date post market hours similar to cash sell transactions.

Eg. On 21st Sept BTST done against Buy of 20th Sept, BTST trade value is say Rs.100 then Rs.40 will be withheld & Rs.60 will be released in the limits instantly. Out of Rs.40 withheld, Rs.20 (half of withheld) will be released at EOD for trade date 22nd Sept & remaining Rs.20 will be released in limits for trade date of 23rd Sept.

You may please visit the online Trade Book under Equity section or "Converted to Delivery" link under Margin page to view the withheld amount for the respective transaction.

If I have sold, do I have to give delivery of shares?

Rolling Segment : You can choose to buy the share before the end of settlement cycle. However once the settlement cycle is over you have to give the delivery of shares from your Demat account.

TT Segment : Settlement of securities will be done without any netting off of positions. If you have sold shares so notified, you will have to mandatorily give delivery. Any purchases have to be separately paid for and delivery taken. Therefore, even after any subsequent purchase in the same settlement, the blocks on your DP balances will remain till settlement.

The Segment to which the stock belongs can be seen from the 'Stock List'.

I buy a share, how will the payment be made and how will I get the shares?

The payment will be made on the Pay-In day which depends on the settlement cycle and the exchange. The shares received from the exchange will be automatically transferred to your Demat Account. The money required for purchase will be transferred from your Bank account. A similar process takes place when you sell the share.

I have bought some shares but some amount has not been deducted from my Bank Account?

The amount will be deducted from your linked ICICI Bank account on the Trade Day itself. The date on which amount is to be deducted from your account can be checked from the 'Cash Projection' page.

I have bought some shares but shares have not come into my demat account?

The shares will come into your demat account at the time of settlement. Hence you can expect the shares to come into your Demat account on Pay-Out of securities (i.e. T+2). In case you do not receive the shares, it may be due to the stock being in 'No Delivery' period . In this case the shares will come from the exchange after the 'No Delivery' period is over which could be 1-2 weeks away. The date on which the shares are to be credited to your Demat Account is indicated on the Order verification screen which comes up on submitting a Sell order. Alternatively, it is possible that the shares may not have come from the exchange because of short delivery by the counter party (selling broker).. In this case, the exchange conducts an auction to buy the shares (to the extent delivered short by any broker) from the open market and the shares may be received a few days later. If the shares are not received in an auction also, the exchange suitably charges penalty from the person liable to deliver the shares. You are suitably compensated and the consideration is remitted to you as soon as it is received from the exchange.

I have sold some shares but the payment has not come into my bank account?

The amount will be come into your bank account at the time of settlement. Hence, generally you can expect the amount to get credited to your bank account on T+2.

At times, however, the share may be in 'No Delivery' and hence the payment may be received only after the 'No Delivery Period' is over, which might be 1-2 weeks away. The date on which amount is to be credited to your account can be checked from the 'Security Projections' page.

What is a short delivery?

Short delivery refers to a situation where a client, who has sold certain shares during a settlement cycle fails to deliver the shares to the member either fully or partly. Details of short delivery, if any, for orders placed by you is posted in the My Messages link on the Equity page.

What is an auction?

An auction is a mechanism utilised by the exchange to fulfil its obligation towards the buying trading members. Thus, in case for a settlement, the selling trading members have delivered short, their deliveries are bad or they have not rectified the company objection reported against them, the exchange purchases the requisite quantity from the market and gives them to the original buying member. Auctions are generally held on Friday.

What factors give rise to an auction ?

There are three factors, which primarily give rise to an auction:
1. Short deliveries
2. Un-rectified Bad Deliveries - this is relevant only in respect of shares in physical form
3. Un-rectified Company Objections

What happens if the shares are not bought in the auction?

If the shares could not be bought in the auction i.e. if the shares were not offered for sale in the auction, the Exchange squares up the transaction as per SEBI guidelines. The guideline in force stipulates that the transaction is squared up at the highest price on the NSE from the relevant trading period till the auction day or at 20% above the last available closing price on the NSE on the auction day, whichever is higher. The pay-in and pay-out of funds for auction square up is held along with the pay-out for the relevant auction.

What if there is an internal Shortage within ICICI Securities, i.e., the Buyer and Seller are both ICICI Securities Clients and the Seller defaults in Securities Delivery due to which the Buyer may not receive the Shares?

As per Exchange Settlement Norms, Securities Pay in Obligations are netted at Member Level and only net obligation is to be either delivered to the Clearing Corporation or received from the Clearing Corporation.

Within ICICI Securities it could be possible that within the Member’s Clients, there could be positions of a client in the same scrip where counter party client is also of ICICI Securities, which then necessitates internal adjustment / netting. If the securities are not received on or before settlement date or due to any other reason whatsoever, Client/s are not able to deliver securities, the counter-party client may not receive shares on T+1 (Settlement Date). In that case there is an Internal Shortage within ICICI Securities, i.e., the Buyer and Seller are both ICICI Securities Clients and the Seller defaults in Securities Delivery due to which the Buyer may not receive the Shares.

ICICI Securities will attempt to recover such securities from Seller client and deliver it to the Buyer client, however in case of default such Internal Securities Shortage will be settled as given below:

A) The Defaulting Seller Client will be debited with financial close out price computed as the Highest price of the securities prevailing in NSE or as the case may be in BSE from the date of transaction till the Settlement Date.

B) Accordingly, the Buyer Client will be credited with the amount so determined as per above within T+4 day and the same amount will be debited to the account of the Seller Client.

C) In case such ISIN goes under corporate action, then adjusted price will be considered for determining close out value. If any ISIN undergoes corporate action between T+1 day till financial close out is completed, the same shall not be covered for the computing the financial close out. Parties shall not have any claim against ICICI Securities for executing Close Out due to such Internal Shortages.

D) For the purpose of above calculations, first preference will be given to rates available on NSE & then on BSE.

E) Once the contract is closed as per the above mentioned process, no obligation to deliver / receive securities shall remain from either party. Parties shall not have any claim against ICICI Securities for executing Close Out due to such Internal Shortages.

F) Further, once Closeout is effected, either parties will not have any claim on ICICI Securities for any benefits arising on account of Corporate Actions in such scrips.

G) In a scenario where quantity of short delivery of securities is partly short delivered in the Exchange and partly within ICICI Securities i.e. as an internal shortage to the buyer, then the seller client shall fully bear the costs and consequences of the Exchange Auction rate for the quantity short delivered in the Exchange and also the financial close out rate for the internal shortage quantity as per the above formula stated in clause A).
a. In such scenario, shortage marked buyer client will receive the securities as per the internal shortage financial close out rate computed and charged to seller client.
b. There may be a chance of price difference between Exchange Auction rate and internal shortage financial close out rate which shall be fully borne by the seller client and passed on to the buyer. Parties shall not have any claim against ICICI Securities for executing financial close out due to such Internal Shortages.

H) In case of buy position securities delivery marked against the Exchange / internal shortage and the said customer is unable to meet the BTST sell obligation, then the BTST Sell obligation will be considered as sell shortage and will be recovered through financial close out as per Exchange Auction / Internal Shortage rate as may be decided. Buy side shortage will be settled through securities and/ or Financial close out as per Exchange and / or Internal shortage close out rate.

I) The policy is applicable for retail clients who are not custodian settled.

What is Margin Trading / Trading in Margin Segment at ICICIdirect.com?

In margin trading, you take buy/sell positions in stock(s) with the intention of squaring off the position within the same settlement cycle. If, during the course of the settlement cycle, the price moves in your favour (rises in case you have a buy position or falls in case you have a sell position), you make a profit. In case the price movement is adverse, you incur a loss. However, you also have the option to take/give delivery of buy/sell position respectively if you have sufficient cash/securities to do so.

Normally to buy shares, you have to place (ensure availability of limit) 100% of the order value, while to sell shares, you need to have shares in your demat account. However, margins are blocked only to safeguard against any adverse price movement. With margin trading, you can leverage on your trading limit by taking buy/sell positions much more than what you could have taken in cash segment. However, the risk profile of your transactions goes up.

How is margin trading different from trading in Cash segment?

Buy/sell transactions in Cash Segment are settled by delivery unless squared off within the same settlement. Whereas in Margin trading, sell transactions are squared off unless converted into delivery (cash segment), Margin Buy positions which are marked with square off mode as 'Broker' will be squared off unless converted to delivery (cash segment) and Margin Buy positions which are marked with square off mode as 'Client ' will not be squared off by the system but it will be the customer's responsibility to square off such positions before the stipulated time (stipulated time is available on the site on the Margin product buy page in the 'Help' link besides the Square off mode). The time when the Margin open positions will be squared off (i.e End Of Settlement (EOS) process) would be specified in the Open Margin Positions or Pending for Delivery screen everyday. For example, when you place an order to buy 100 shares of Reliance in the cash segment, your intention is to pay for and receive the shares in your demat account. However, if the same order were to be placed in the margin segment, your intention would be to sell those shares subsequently in the same settlement at a higher price and thereby make a profit on the same. However, if the price falls subsequently, there may be a loss.

Since a cash position is meant to be settled by delivery, the required cash or securities are blocked in full. For example, if you place an order to buy 100 shares of Reliance, 100% of the order value is blocked from your limit and if you place an order to sell 100 shares of Reliance, 100 qty of Reliance shares are blocked in your demat account. On the other hand, in a margin order, only a specified % of the order value is blocked from your limit. A sell order in the margin segment can be placed even without having any stock in demat account. However, unlike the sell order in the cash segment which can be placed without having any limit, a sell order in margin can be placed only if sufficient limit is available. The most important thing to understand is that though you can leverage on your trading limit with margin trading, the risk profile of your transactions goes up substantially.

For more details login to your account and visit the Stock List option on the Equity section of the Trading page.

What is the maximum holding period (stipulated time) for Client mode (MTF Buy) ?

MTF positions will have a default validity period of 30 days and the same will be auto renewed with 30-day intervals subject to a maximum validity (Expiry) of 360 days from the date of purchase.

Please note that, ICICI Securities (I-Sec) reserves the right to renew/roll-over all or any MTF positions created by you, or close the positions on or after completion of 30 days of position created/last renewal, without assigning any reason whatsoever with prior notice of at least 5 working days through e-mail.

What does 'Broker Square off' and 'Client Square off' mean in Margin product?

Buy orders/positions under the Margin product now have a facility whereby customers can select the mode for squaring off their Margin positions. 'Broker' or 'Client' are the square off modes available under this facility.

1. Broker:Under this square off mode, all unexecuted Margin Buy/Sell orders as well as Margin Buy/Sell positions that are marked under 'Broker' square off mode will be identified as intra day and will be cancelled/squared off respectively by ICICI Securities Limited (I-Sec) during the EOS process for the current settlement which would be run at the discretion of I-Sec.
2. Client:Under this square off mode, all unexecuted Margin Buy orders as well as Margin Buy positions that are marked under 'Client' square off mode will not be cancelled/squared off by I-Sec during the EOS process for the current settlement except for scrips having a price band ('price band scrips') where price of the scrip moves by a predefined % as determined by I-Sec in which case positions would be squared off by I-Sec at its discretion. The onus to square off such positions before the stipulated time will lie on you failing which the positions would be squared off by I-Sec on best effort basis during the EOS process run for the earlier settlement . Please note positions under the Margin Client square off mode may be squared off by I-Sec in case of price band scrips where price of the scrip moves by a predefined % as determined by I-Sec. Client square off Mode is also referred as Margin Trading facility. Hereinafter in the FAQ's, it can be referred as any of two i.e. Client mode or Margin Trading Facility (MTF).

Can I place 'Broker Square off' and 'Client Square off' mode Margin transactions on NSE and BSE?

Yes, you can place 'Broker Square off' and 'Client Square off' mode transactions on both NSE and BSE. Please note Client mode positions stipulated time in both NSE & BSE.

What is meant by 'Margin Positions' page?

The 'Margin Positions' page on the site is the page which displays margin open positions taken in the current settlement and provides you the facility to:

1. Add margin - You can add additional margin against positions taken in the current settlement
2. CTD (Convert to Delivery) - You can convert margin position to Cash position and take delivery of the same
3. Square off - You can place square off order against your position using this link
4. Change mode - You can change the mode of the positions taken in the current settlement from Broker to Client and vice-versa

What is mean by 'Pending for Delivery' (PFD) page? What are the details available on the PFD page?

The 'Pending for Delivery' (PFD) page on the site is the page which displays all your open Margin Buy positions taken in Client square off mode which were not squared off by you in the earlier settlements. The PFD page is similar to the Margin Positions page. The following details are displayed on this page :

1. Exchange & Trade Date
2. Stock Code & Expiry Date
3. Open Quantity & Cover Order Quantity
4. Average Price at which the position was taken & Current Price of the scrip
5. Initial Margin Amount
6. Amount Payable
7. Minimum Margin & Available Margin Amount
8. Profit / Loss amount & Additional Margin Required
9. Action
10. Margin Square off mode 'Client'
11. Details - On clicking the + symbol the following columns would be displayed
    • Settlement Number
    • Convert to Delivery Quantity
    • Profit / Loss %
    • Squared off Quantity

Is there any impact on my position in the scrip in which there is a corporate action?

Yes, in case of corporate action in the particular scrip there could be a possibility of positions being squared off earlier than the number of days specified or expiry date mentioned on the Pending for Delivery page. Please note you will also not be allowed to create fresh positions in such scrip as the same would be disabled due to corporate action.
Please note this would also apply to your Margin Trading facility positions on BSE under the Client mode.

For Example :

You bought 100 quantity shares of TISCO at Rs. 300 each under client mode on March 11, 2016 and expiry date is March 18, 2016. In this example , let's assume March 17, 2016 is the Ex Date for a Bonus Shares corporate action, hence the position will be squared off one or two days before Ex Date and you will also not be allowed to create fresh position in this scrip for few days till it is reactivated for trading.
Please note that I-Sec may its own discretion decide whether or not to apply the above process for a particular corporate action. The above mentioned process shall be applied if I-Sec is of the opinion that corporate action may have a potential impact on stock's price.

Can I trade in Margin at any time during the day? Can I place a Margin order at 3.25 pm.?

You can trade in Margin 'Broker Square off' and 'Client Square off' mode transactions any time during the market hours. You can trade in Margin Client square off mode till 3.30 pm (or till the market is open) but you can trade in Margin Broker square off mode till the time the End of Settlement (EOS) process for the day is run. However, after the End of Settlement (EOS) process for the day is run, you will be permitted to take or square off only Buy positions in Client square off mode and positions can be taken only in scrips for which the facility to choose the Client square off mode is available provided Margin product trading is enabled for the same scrip.

Please Note, End of Settlement (EOS) process for Broker Square off mode will be run for both the Exchanges.

Which stocks are eligible for margin trading? Why is the stock list restricted to specific scrips only?

At present, only select shares have been enabled for trading in the Margin product. These stocks currently account for more than 95% of the trading volume on the bourses. Only those stocks, which meet the criteria on liquidity and volume have been enabled for trading under the Margin product. You can visit the Stock list page for viewing the list of stocks enabled for Margin trading on NSE or BSE.

I-Sec reserves the right to stock selection for margin and may, at its sole discretion, include or exclude any shares from the margin list on any exchange without any prior intimation.

How do I place a margin buy/sell order?

To place a Buy order in Margin, you need to visit the 'Place Order' page under Equity Transact section and select 'Margin Buy' tab. You will have to select the 'Square Off Mode' for the order as either 'Broker' or 'Client'. All other order parameters remain the same as in the Cash product.

To place a Sell order in Margin, you need to visit the 'Place Order' page under Equity Transact section and select 'Margin Sell' tab . All other order parameters remain the same as in the Cash product.

For further assistance, you may refer to the 'Help' section on the respective page.

How do I pledge my Client-MTF positions?

As per SEBI circular dated Feb 25, 2020, all funded stocks needs to be pledged in favor of 'Client Securities Margin Funding Account' of I-Sec. I-Sec will initiate a pledge request with T+1 as execution date. Customers need to confirm the pledge within the deadline on T day or else the shares will get squared off on T+1 day at the earliest

You need to confirm to Pledge the quantity of shares which get executed under Margin Trading Funding (MTF)/ Client mode product.. You have to authorize the Pledge of these shares through the link for OTP authentication generated and sent your mobile number and e-mail id which is registered in your Demat account. Further the position would be continued only after you have confirmed the pledge through the depositories OTP verification process post successful Pledge creation. In case you do not confirm the pledge request then I-Sec has the authority to square off your position at I-Sec's discretion.

Are there any additional charges for MTF shares bought by me and being pledged in favor of ICICI Securities?

Yes, additional charges will be levied for MTF shares in accordance with depositories NSDL and CDSL. These charges are applicable on a per-ISIN basis in each instruction.

Type of Instruction	Pledging Charges in Rs. (Per ISIN in an instruction)
Margin Trading Pledge : MTF Pledge Creation/Closure/Invocation	20

How the delivery towards sell of MTF Funded shares will be effected?

In case you sell the MTF funded shares, ICICI Securities (I-Sec) shall invoke the pledge on such shares for meeting delivery obligation on sell transaction. This process will be followed irrespective of the fact whether the shares are being sold either by you /dealer or by risk trigger processed by I-Sec.

What is Advance Pledge?

This is future dated pledge instruction and pledge will be created on execution date subject to availability of shares quantity in client demat account and client confirmation obtained.

Can I place short sell orders (i.e. sell shares which I do not hold in DP)?

Yes, you can place short sell orders in the Margin product. However, you will have to square off the position on the same day before the EOS process is run as you cannot have an open net sell position at the end of the settlement cycle.

Can I place Buy /Sell Overnight Order(s) in Margin Broker Square off mode?

No, you cannot place Buy /Sell Overnight Order(s) in Margin Broker Square off mode.

Can I place Buy /Sell Overnight Order(s) in Margin Client Square off mode?

Yes, you can place Fresh and Square off Buy/Sell Overnight Order(s) (with Limit ) in Margin Client Square off mode. fresh order can be placed using the Margin tab under the existing 'Place order' link on the site and square off orders can be placed from 'Pending for Delivery' page.

What happens after I place an overnight Margin - Client mode orders? When will my order be sent to exchange?

Your Client mode overnight order(s) will reflect in the Order book in 'Requested' status. Your orders will be sent to exchange once the exchange opens for the next trading session.

When will my overnight Order(s) in requested status become ordered?

Overnight order(s) will become in 'Ordered' status once they are sent to exchange either in pre-open session for pre open enabled stocks or in the normal session for stocks not enabled for pre open.

Is there any change in Margin blocking for Overnight Order placement?

No, there is no change for Margin blocking. Existing margin blocking will continue.

Can I place Order in pre open session?

Yes ,you can place order in pre open session for pre open enabled stocks in Margin Client Square off mode only.

Do you block the shares in DP when a sell order is placed in the margin segment?

No. Unlike a sell order in the cash segment, securities are not blocked in your demat account at the time of placing a sell order in Margin.

Can I trade in Margin and Cash on the same day in the same scrip?

Yes. You can trade in Cash and Margin on the same day in the same scrip on the same exchange as well as on different exchanges irrespective of the Margin square off mode.

Can I convert my pending margin order into an Order for Cash Segment?

No. Only the executed margin position can be converted to delivery (cash segment) and not the pending orders in margin. In such case, you can cancel your margin order and place a fresh order in cash.

Can I take Margin position with client mode if unsettled position exists in the Cash product?

Yes . You can take Margin positions with Client mode if there is any unsettled position in Cash. All unsettled positions in Cash can be viewed under the Securities projection page under Equity.

Can I choose different square off modes for 2 different orders in the same scrip on same day?

You can choose different square off modes for 2 different orders in the same scrip on same day if each order is in different exchange. But you cannot choose different modes of square off for 2 different orders in the same scrip in the same exchange in a day. The mode of square off for your 2nd Margin order in the same scrip has to be the mode chosen during the 1st order placement if transaction is being done on the same exchange. This would mean that in a current settlement on an exchange on a day you can have margin position or orders in same scrip only in one mode.

Can I choose different square off modes in the same scrip in different days?

Yes. You can choose one mode in a scrip on a day and another mode in the same scrip on the next day. Only on same day you cannot have orders/positions on one exchange in the same scrip with different modes.

I hold a position in a scrip in the Pending for Delivery page , can I place Cash orders in the same scrip?

Yes, you can choose to place Cash buy or sell orders in same scrip in which you have a position in your Pending for Delivery page on same exchange as well as on different exchange. However, you can also opt to Convert to delivery and take delivery of the position which is in Pending for Delivery page or you can place Margin orders with Client or broker mode in such a scrip.

I have squared off my position in Pending for Delivery, can I place Cash buy or sell orders in the same scrip today?

Yes. You can place cash orders in that scrip today on same exchange as well as on different exchange if you have fully or partially squared off your position on pending for delivery page in that scrip. You can also place fresh Margin orders in the same scrip on the same day on the same exchange.

Can I place margin order with client mode in a scrip in which I have done shares as margin in Futures & Options (F&O)?

Yes. You can place Margin orders with Client square off mode in a scrip if you have done shares as margin in the same scrip and vice versa.

Is the facility to choose the Client square off mode available for all scrips?

No. The facility to choose the Client square off mode is available in select securities and for fresh Buy orders only. The facility is not available on Sell orders or modifying unexecuted orders

Also, the square off mode can be changed from Margin Position page for your buy positions during the day anytime before the EOS process for the current settlement is run.

I-Sec, at its sole discretion, reserves the right to enable/disable the 'Client' square off mode for selected securities.

How can I know the securities for which the facility to choose the Client Square off mode is available?

To know the list of securities for which the Client square off mode option is enabled, please refer 'Client Square off Mode Enabled' column on the following path:

Trading page > Equity section > Stock list page

The value in this column will be displayed as 'Y' if the facility is available for the security else the value displayed will be as 'N'.

Where can I see the square off mode for a buy order placed by me?

The order and the square off mode chosen against the order can be seen in the Order Book, under the column 'Square off mode' . All sell orders under the facility are by default marked under the Broker square off mode.

How do I differentiate between margin orders and cash orders in the order book?

To distinguish between the two order types, Margin orders are displayed with a yellow background while cash orders are displayed with a white background in the order book.

Can I change the square off mode for an unexecuted / pending Order?

No. You cannot change the square off mode of unexecuted / pending orders. However, you can cancel the order and place a fresh order by selecting a different square off mode.

You can change the square off mode of executed buy margin orders from the Margin Positions page after the order is executed.

How do I see my open positions in margin?

To view the open margin positions created during the day, you can visit the 'Margin Positions' link on the trading page. The margin positions table gives details such as Stock, buy/sell position, open qty, cover order qty, weighted average of buy/sell price at which the position has been built up, current market price, mark to market profit/loss and total margin blocked on the open position.

To view Margin open positions taken in earlier settlements, you can visit the 'Pending for Delivery' page in the Equity Section of your www.icicidirect.com account.

Can I change square off mode of my open Margin positions from Pending for Delivery page?

No. You cannot change square off mode of your open Margin position from Pending for Delivery page.

Why am I not able to Convert to Delivery and Change Mode of certain existing Margin and MTF positions?

As per Regulatory requirements regarding securities settlement, netting off of customer's trades has become mandatory. In order to comply with these regulatory norms, we have restricted certain orders and actions for the customers. In order to view the full list of restrictions please click here..

How much margin would be blocked on placing the margin order?

Initially, margin is blocked at the applicable margin percentage of the order value. For market orders, margin is blocked considering the last traded price of the stock as the order price . On execution of the order, the same is suitably adjusted as per the actual execution price of the market order.

For more details on the margin percentage login to your account and visit the Stock List option in Equity section of the Trading page.

Is the margin percentage uniform for all securities?

It may not be so. Margin percentage may differ from security to security and settlement to settlement based on the liquidity and volatility of the respective security besides the general market conditions.

For more details login to your account and visit the Stock List option in Equity section of the Trading page.

Is margin blocked on all margin orders?

No. Margin is blocked only on margin fresh orders, which are in the nature of building up fresh positions. Margin orders which are placed to square off existing open buy/sell position (called 'cover orders') shall not attract margin.

For example, if you have a buy position (executed trade) of 100 shares in Reliance in margin and now place a sell order for 100 shares in Reliance in margin, the sell order would not attract any margin as it is in the nature of a cover order. However, if you place a sell order for 150 shares, the additional sell quantity of the sell order i.e. 50 shares would attract margin at the applicable margin rate. Such orders can be called 'partial cover and partial fresh order'.

Please note that a cover order is recognized only against an executed order and not against an unexecuted / pending order. For example, if you have an unexecuted / pending buy order of 100 shares in TISCO and want to place a sell order of 100 shares in TISCO at a higher price, the sell order would not be recognized as a cover order and shall accordingly attract margin as in case of any fresh sell order.

Is there any impact on the limit after a buy/sell order in margin product is executed?

Yes. Execution of a buy/sell order in the Margin product does impact your limits.

If an executed order results in creation of a new position, the margin blocked on the order gets appropriately adjusted for the difference, if any, in the order price at which the margin was blocked and the execution price. Accordingly the limits are adjusted for differential margin.

If an executed order is in the nature of a cover order, i.e. it results in squaring off of an existing open position in margin either partially or totally, the margin blocked on the open position to the extent squared off, will be released and profit & loss on the square off of such a transaction will be adjusted. Accordingly, the limits will be adjusted for the released margin as well as for the effect of profit and loss on the transaction.

To view the details of your Limits, please click on 'Limit' link on the Equity trading page of your www.icicidirect.com account.

When is margin blocked on margin positions released?

When a margin Sell position is closed out (either by squaring off or converting to delivery) or a margin Buy position is closed out (by squaring off), proportionate margin blocked on the position so squared off is released back and added to the limits.

What is meant by 'squaring off a position'? What is a cover order?

Squaring off a position means closing out a margin position. You can place the square off order by clicking the ' Square off ' link against the margin open positions. It is always advisable to place the cover order through the 'Margin Positions' / 'Pending for Delivery' page as it will eliminate the error of placing double orders and help avoiding any fresh positions. For example, if you have a margin buy position of 100 Reliance Shares', squaring off this position would mean selling 100 Reliance shares. The order placed for squaring off an open position is called a cover order. In the example, the order placed to sell 100 Reliance shares is a cover order against the open position - 'Buy 100 Reliance Shares'.

How do I place a square off order in margin to close my open positions?

To place a square off order for margin open positions created during the day, you may use either the normal buy/sell page or click the 'Square off' hyper link on the 'Margin Positions' page.

To square off Margin open positions created and maintained from earlier settlements, you will have to click on the 'Square Off' hyper link on the 'Pending for Delivery' page.

How does the profit and loss get recognized on execution of square off (cover) orders?

Execution price of the cover order is compared with the weighted average price at which the position was built up (as shown in the 'Margin Positions' or 'Pending for Delivery' page) and profit/loss is calculated therefrom.

For example, say you have a margin position - 'Buy 100 Reliance Shares' at an average price of 100 per share created by the execution of 2 orders - 'Buy 50 Reliance Shares @ 110 per share' and 'Buy 50 Reliance Shares @ 90 per share'. If you square of a part of the position by selling 60 Reliance Shares @ 105 per share, the profit on such square off would be calculated as:

Quantity squared off * (Square off trade execution price - Weighted Average price of the position)60 * (105 - 100) = 300

In case of profit on a margin position or where the Available Margin is in excess of the Margin Required, can I reduce the margin against the position to increase my limit?

Margin (though in excess of the requirements) cannot be reduced by you. The only way margin is released is by canceling an unexecuted margin order (where margin is blocked against a margin order) or by closing out a margin position (where margin is blocked against a margin position).

Where can I see the quantity squared off in case of positions taken in the earlier settlements?

The part quantity squared off in case of any positions taken in earlier settlements can be viewed by clicking on the 'Squared off Qty' link present against the position on the 'Pending for Delivery' page.

Is it compulsory to square off all Margin positions within the settlement?

Yes. It is compulsory to square off all your open positions (net of what has already been converted to delivery) within the settlement. In case, any Margin Buy position with Client square off mode remains open it will be shown in the 'Pending for Delivery' page.

Can I choose not to square off a margin position marked under the Broker square off mode?

Yes, you can choose not to square off a position marked under the 'Broker' square off mode by either choosing the 'Convert to Delivery' option before the EOS is run for the day or changing the mode to Client square off from Margin Position page.

What happens if for some reason margin positions marked with Broker Square off mode remain open at the end of settlement?

I-Sec would square off the position on best effort basis but the onus lies on you to close out all open positions. If for some reason, the position remains open at the end of settlement, you will have to make all the necessary arrangements for funds/securities for the settlement of the position and shall be fully liable for the consequences (auction/penalty/interest) of the same.

What will happen if positions marked for Client Square off mode are not squared off by me in the same settlement?

Buy Margin open positions marked under 'Client' Square Off mode ,which are not squared off by you on the same day, will remain open and will be shifted to the 'Pending for Delivery' page (explained above). These positions are deemed to be intended for delivery by you.

Such positions are to be either 'Converted to Delivery' (cash) or squared off by you before the stipulated time. You can take delivery of such positions by clicking on the 'Convert to Delivery' link on the 'Pending for Delivery' page or square off the position by clicking on the 'Square Off' link on the same page.

In case you do not square off or convert such positions to delivery, these positions will be squared off after the stipulated number of trading days (as decided by I-Sec from time to time) from the day such positions are taken. However, I-Sec may at its sole discretion, square off such positions without any prior intimation to the customers.

What does End of Settlement (EOS) mean? What is the stipulated time for running the EOS and which positions are squared off in the EOS?

End of Settlement (EOS) is a process by which specific Margin positions in a particular Settlement, if not squared of by you within the stipulated time, are identified and squared off by I-Sec on a best effort basis.

Two types of EOS processes are run by I-Sec under the Margin product:

1. EOS for current settlement: In this case, all unexecuted Broker square off mode buy and sell Margin orders as well as positions of the current settlement which are marked under the Broker square off mode are cancelled / squared off by I-Sec respectively.
   Based on which kind of positions are open, order cancellation will be done in following manner:
   
   

   S.No. Open Position Pending Orders Action         1 Broker Mode Sell Position Client Mode Buy Cancel     Broker Mode Buy Cancel     Broker Mode Sell Cancel         2 Broker Mode Buy Position Broker Mode Sell Cancel Broker Mode Buy Cancel         3 Client Mode Buy Position T day Client Mode Buy Not canceled Broker Mode Sell Pls. refer next three questions         4 No Open Position Broker Mode Buy Cancel Broker Mode Sell Cancel Client Mode Buy Not canceled

   
   The stipulated time for EOS process for the current settlement is displayed on the 'Margin Positions' page of our site everyday.
   
   
2. EOS for earlier settlements : In this case, the following orders / positions are cancelled/ squared off by I-Sec:
   
   1. Unexecuted square off orders for positions taken in the settlement for which the EOS process is being run.
      
   2. Buy positions of the earlier settlement (appearing in the Pending for Delivery page) which are marked under the client square off mode
      

Will all open positions be squared off when the End Of Settlement process is run?

All open Sell positions will be squared off by I-Sec, on best effort basis, when the EOS process is run.

For Buy positions, only those positions which are marked with 'Broker' square off at the time the current settlement EOS is run, will be squared off by I-Sec on best effort basis.

In case of Buy positions that are marked with 'Client' square off, the onus lies on you to square off such positions. I-Sec will not square off positions marked with 'Client' square off on T day till the stipulated day until which such positions are permitted to be maintained. However, if the requisite amount is not brought in till the stipulated time then the positions will be squared off by the EOS run for that earlier settlement.

Will the current settlement EOS process cancel my pending Sell orders if I have an Open position in Client mode on T day?

The Current settlement EOS process will cancel pending Sell orders against your T day open Client mode Buy position only if the total quantity of your pending sell orders (including all sell orders placed under that scrip) exceeds the position quantity. The open Buy position in Client square off mode will remain untouched by the EOS square off process i.e. Open Buy position in Client square off mode are not squared off by the EOS process run for the current settlement.

For example:

1. You have 100 qty open Buy position in Client mode in ACC and there are three pending Sell orders against this position for quantities 60, 40 and 30 respectively
   In this case,
   Open Buy position = 100 qty
   Pending Sell orders = 60 + 40+ 30 = 130 All Sell orders for qty 130 will be cancelled by EOS process in the above case since Total Pending Sell order qty 130 exceeds the total Open Buy position qty of 100 in Client square off mode
2. You have 100 qty open Buy position in Client mode in ACC and there are two pending Sell orders against this position for quantities 60 and 40 respectively
   In this case,
   Open Buy position = 100 qty
   Pending Sell orders = 60 + 40 = 100 All Sell orders for total qty 100 will be ignored by EOS process (i.e. Sell orders will not be cancelled) in the above case since Total Pending Sell order qty 100 equals the total Open Buy position qty of 100 in Client square off mode and are treated as square off order against this Buy open position
   
3. You have 100 qty open Buy position in Client mode in ACC and there are three pending Sell orders against this position for quantities 10, 20 and 15 respectively
   In this case,
   Open Buy position = 100 qty
   Pending Sell orders = 10 + 20 +15 = 45 All Sell orders for total qty 45 will be ignored by EOS process (i.e. Sell orders will not be cancelled) in the above case since Total Pending Sell order qty 45 is less than the total Open Buy position qty of 100 in Client square off mode and are treated as square off orders against this Buy open position

Will the current settlement EOS process cancel all my pending Buy orders if I have a Sell Open position on T day?

Yes. The Current settlement EOS process will cancel all pending Buy orders (i.e. Buy orders with Broker as well as Client square off mode irrespective of the quantity) against your open Sell position on T day. On cancellation of pending buy orders the Sell position will then be squared off by the current settlement EOS square off process.

Can Margin Sell Orders be modified after End of Settlement process?

No. Margin Sell orders cannot be modified after End of Settlement process. Existing order has to be cancelled and a fresh square off order can be placed using square off link in Margin Positions page.

Is there any Client wise stock wise position limits for Client Mode positions?

Yes. There is client wise stock wise position limits for Margin Trading Facility positions and if this limit is breached then I-Sec reserves the right to square off the positions at its discretion. Please note in order to view the Client wise Stock wise positions limits you may refer to the footnote on 'Pending for Delivery' page. Please note these limits are specific to exchanges(NSE & BSE).

Example :

Suppose the Client wise limit for a stock ITC is 40 Cr. and Client positions is 41 Cr then the position of customer may get squared off by I-Sec at its discretion to bring client positions within the above limit.

Is there any Overall Stock limits for Client Mode positions?

Yes. There is Overall Stock limits for Client Mode positions and if this limit is breached then I-Sec reserves the right to square off the positions at its discretion.

Is there any single client exposure limits for Margin Trading Facility as per SEBI guidelines?

Yes. There is single client exposure limits for Margin Trading Facility as per SEBI guidelines and if this limit is breached then I-Sec reserves the right to square off the positions at its discretion.

Example :

Suppose the Max allowable client wise exposure limit is 30 Cr. and Client positions is 32 Cr which exceeds the limit of 30 Cr. then the position of customer may get squared off by I-Sec at its discretion to bring client positions within the above limit.

Is there any Max allowable exposure limits for Margin Trading Facility as per SEBI guidelines?

Yes. SEBI has given Max allowable exposure limits to Trading Members for Margin Trading Facility and if this limit is breached then I-Sec reserves the right to square off the positions at its discretion.

Where can I declare Promoter/Promoter Group status?

You can declare Promoter/Promoter Group status from 'Update Promoter Status' link available on below mentioned pages :

1. 'Pending for Delivery' page
2. 'Block/Create Limit' and 'Blocked Securities' pages under 'Shares as Margin'

Why declaration of stocks in which I am part of Promoter/Promoter Group is required?

You are required to declare the stocks in which you are part of Promoter/Promoter Group as per SEBI guidelines as this declaration will be used for reporting to exchanges if you have taken MTF position in such stocks or given them as collateral. Also, you can add / delete your promoter status by addition / deletion of record through 'Update Promoter Status' link.

Please note for all other not declared stocks, you will be considered as Non Promoter for the purpose of reporting your transactions to exchanges under the Margin Trading product as per SEBI guidelines.

Will my Margin Trading Facility positions may get squared off if the Stock in which I have taken position moves out from the eligible list of Stocks?

Yes. Your Margin Trading Facility position may get squared off by I-Sec at its discretion in case the Stock in which you have taken the position moves out from the eligible list of Stocks.

What is meant by 'Convert to Delivery' ?

'Convert to Delivery' (CTD) is an option through which you can convert a Margin open position into a Cash position and receive or give delivery of shares thereof. You can do CTD of your Broker mode or Client mode position from Open position page on T Day before End of Settlement Process for Broker Mode and Trading hour for Client mode. Please note that for your Margin Client mode/MTF positions, CTD will not be allowed post T day trading hours till successful confirmation of Pledge in favor of ISEC (Client Securities Margin Funding Account) which will happen on receipt of shares in your demat account.

This would mean that CTD against MTF/Client shares bought on T day will not be allowed post market hours from T day onwards till T+2 day. It will only be allowed from T+3 day onwards i.e. post confirmation of pledge and in case of clearing holiday it may be allowed from T+4 day onwards or later depending on continuous clearing holidays

For example,

1. If you have a margin position of 'Buy 100 Reliance Shares' marked either in the Client square off mode or the Broker Square off mode, you can choose to receive delivery against the same by choosing the 'Convert to Delivery' option on T day any time till End of Settlement or Trading hours for Broker Mode and Client mode respectively. You can convert even a part of the total quantity of 100.
2. Please note that you will be able to do CTD only on T+3 day in Client mode post successful pledge confirmation
3. If you have a margin position of 'Sell 50 Reliance Shares' you can choose to give delivery of shares against the sell margin position if you have the requisite shares in your demat account by choosing 'Convert to Delivery' option. You can convert even a part of the total quantity of 50.

How do I convert my margin position into delivery (cash segment)?

To convert a Margin position, which is taken in the current settlement, to delivery (Cash segment), you can click on the link 'Convert to Delivery' (CTD) on the 'Margin Positions' page.

Similarly, to convert the positions of the earlier settlements you can click on the link 'Convert to Delivery' on the 'Pending for Delivery' page to convert the desired quantity to delivery.

Part or full convert to delivery is permitted in both the above cases.

Please ensure that you have adequate allocation of funds/stock in your linked bank/demat account to convert the buy/sell position respectively.

Please note, as mentioned above for positions on Pending for Delivery page you will be able to do CTD from T + 3 day onwards post successful confirmation of pledge for the shares bought by you under client mode or MTF.

I have more than 1 position 'Pending for Delivery' in a scrip, which position can I convert to delivery first?

Convert to Delivery is permitted in the order in which the positions are taken. You can convert the position taken in earlier settlement first. For ex: if you have two positions in ACC taken in settlement no 2009125 and 2009126 respectively, you can convert the position taken in settlement 2009125 first.

Where can I see the quantity/positions converted to delivery?

You can view the quantity/positions converted to delivery by visiting :

1. The 'Converted to Delivery' page present on the Trading section under the Equity page.
2. The 'CTD Qty' link present on the 'Pending for Delivery' page.

When can I do cash sell for the shares received through Convert to Delivery?

You will be able to sell the shares in Cash on T+3 day after receiving the same in your demat account.

Can I convert my position in Cash Segment into Margin Positions?

No. Only the position in margin can be converted to delivery (cash) and not vice versa.

How does 'Convert to Delivery' impact limits?

On converting a 'Buy' position to delivery, additional amount is blocked from your limits to provide for 100% of the trade value of the converted quantity. On converting a 'Sell' position to delivery, the shares for the converted quantity are blocked in your demat account. The limit increases on account of release of the margin blocked earlier on the 'Sell' position and further on account of 100% of the sale proceeds of the converted quantity.

Can I convert to delivery my Margin positions with Client square off mode on the same day of taking the position?

Yes. Margin positions with client square off mode can be Converted to delivery in the same settlement in which the position is taken till same day Trading hours. Alternatively, you can also modify such positions to Broker mode from Margin Position page and do a Convert to delivery on the same day of taking the positions.

Can I change the square off mode from Broker to Client for position in current settlement after having done convert to delivery for part quantity ?

Yes. If you have done a Convert to delivery of part quantity of your Broker mode position, you will be able to change the square off mode of this position to Client mode for the balance quantity from Margin Position page.

How is margin availability checked by I-Sec for open Margin positions marked under Broker square off mode?

The Intra-day Mark to Market process run by I-Sec checks the margin availability in case of Buy & Sell positions marked under the Broker square off mode, this is checked by comparing the Available Margin with the Minimum margin required for the position.

What will happen if during the day the last traded price for the scrip breaches beyond a certain % of the previous trading day closing price?

In case of Margin positions in price band scrips under the Broker and Client square off mode, I-Sec monitors the percentage change in the price of these scrips.

In case of certain scrips, if the last traded price of any such scrip moves beyond a certain %, I-Sec at its sole discretion will disable the scrip from further trading in the margin product under the Broker and Client square off mode and will check:

	1. If the scrip is in negative as compared with the previous trading day closing price then cancel all unexecuted fresh buy orders and pending sell square off orders and square off all the long positions at market price
In addition to above in case of Broker square off mode I-Sec will check:
	2. If the scrip is in positive as compared with the previous trading day closing price then cancel all unexecuted fresh sell orders and pending buy square off orders and square off all short positions at market price

The percentage of price change of a scrip specified by I-Sec can be different for Broker square off mode and Client Square off mode. For e.g. Under Broker square off mode, this percentage for a scrip can be say 16% and under Client Square off mode can be say 20%.

To know list of such scrips, please visit stock list page where price band column would be marked as "Y" for such scrips.

However, other scrips not included in the above list will not be disabled for further trading in Margin due to the above reason during the day. Please note this will be applicable to all your client mode positions on NSE as well as Margin Trading facility positions on BSE.

How is margin availability checked by I-Sec for open Margin positions marked under Client square off mode?

The Intra-day Mark to Market process run by I-Sec checks the margin availability in case of Buy positions marked under the Client square off mode, this is checked by comparing the Available Margin with the Minimum margin required for the position.

Can there be a change in the margin requirements on my Margin positions?

Yes. At frequent intervals, for positions marked under the Broker and Client square off mode, I-Sec checks whether margin blocked on positions is sufficient in light of the prevailing market conditions. If the available margin is not sufficient, additional margin is checked and in case the same is not available, the positions are squared off on best effort basis in the Intra-day Mark to Market process run by I-Sec.

What is meant by Intra-Day Mark to Market process? Is it run for all positions?

Intra-Day Mark to Market process is a process whereby I-Sec checks whether sufficient margin is available on positions. There are separate Intra-Day Mark to Market processes run for :

	1. all open Buy & Sell Margin positions marked under the Broker square off mode and
	2. all open Buy Margin positions marked under the Client square off mode.

If the Available Margin (AM) falls below the Minimum Margin (MM) for any position, I-Sec, through this process, blocks additional margin required out of the Limits available, if any. I-Sec may, at its discretion and at suitable time intervals, run the Intra-day Mark to Market processes.

Is the Intra-day Mark to Market process same for all Margin Buy and Sell positions marked under the Broker square off mode?

Yes, There would be a single Intra-day Mark to Market process run for all your open Buy and Sell Margin positions under broker square off mode.

Is the Intra-day Mark to Market process same for all Margin Buy positions marked under the Client square off mode?

No. Two types of intra-day mark to market processes are run by I-Sec for Margin Buy positions marked under the Client square off mode, as follows:

	1. Intra-day Mark to Market for positions taken in the current settlement: In this case, if the AM is less then MM and there are no Limits available, the Intra-day Mark to Market process would cancel all unexecuted orders in such security and if additional margin is further required, the process would square off the positions which have a margin shortfall.
	2. Intra day Mark to Market for positions in the 'Pending for Delivery': In case AM is less then MM and there are no Limits available, the Intra-day Mark to Market process would cancel all pending square off orders in such security and if additional margin is further required, the process would square off the positions which have a margin shortfall.

What is Minimum Margin (MM)? How is it calculated? Where can I see the Minimum margin amount?

Minimum Margin is the margin amount that you should ensure to maintain with I-Sec at all points of time for your open Margin Buy and Sell positions under Broker square off mode and for all your open Buy positions under Client square off mode. Once the available margin with I-Sec on such positions goes below the minimum required margin,I-Sec would block additional margin required from the limit available and in absence of sufficient limits for the required margin such positions will be squared off either in part or full. The details are explained in the FAQs below.

	1. Minimum Margin for Broker Square off mode is calculated as Weighted Average position price * Position Quantity * MM% for Broker mode
	2. Minimum Margin for Client Square off mode is calculated as Amount Payable+ (Amount Payable*Minimum Margin% for Client mode)

Minimum Margin amount can be viewed on the Margin Positions page or the Pending for Delivery page for the current day margin positions (broker & client square off mode) or earlier settlement margin open positions respectively.

Is Minimum Margin different for Margin positions under Broker and Client square off mode?

Yes. Minimum Margin is different for different scrips and also different for same scrip under Broker and Client square off modes.

Where can I see the Minimum Margin% applicable for a scrip?

The Minimum Margin % for Client and Broker square off mode positions can be seen on the Stock list page.

For viewing the Stock list, login to your account and visit the Stock List option on the Equity section of the Trading page.

What is Available Margin? Where can I view the Available Margin amount?

1. Available Margin for Broker square off mode is calculated as the Total Margin blocked including add margin if any ± MTM Profit/Loss on the position.

2. Available Margin for Client square off mode is calculated as the Current Market price of the scrip * Position Quantity.

Available Margin amount can be viewed on the Margin Positions page for Broker and Client square off mode positions taken in the current settlement or the Pending for Delivery page for the Client square off mode positions taken in earlier settlement.

What is Amount Payable? Where can I view Amount Payable? How is it calculated?

Amount Payable refers to the amount required to be paid by you, over and above the margin amount, at the time of taking delivery of your margin position.

If you wish to take delivery in case of positions in Broker square off mode, the amount has to be paid on T day before the end of the settlement . Amount payable for such positions can be viewed on the 'Margin Positions' page.

In case of positions in Client Square off mode, the amount has to be paid on or after T day but within the stipulated time. Amount payable for such margin positions can be viewed on the 'Margin Positions' and 'Pending For Delivery' page

Amount payable is calculated as Cost Value of the Position - Margin paid against positions.

. What is Margin Amount? How is it calculated?

Margin amount, being displayed on the 'Margin positions' or 'Pending for Delivery' page, is the margin (amount) paid by you for your Margin positions. Margin amount is calculated by applying the margin percentage on the trade value of the margin transactions. Also add margin done, if any is added to this margin amount.
During the day, the margin amount including add margin , if any, is blocked in your account for all open margin positions. In case you have Pending for Delivery positions, the margin amount for such positions is debited from your bank account at the end of the day.

. What is additional margin?

Additional Margin is the margin amount required to safeguard a position when it has been identified as short of margin. Additional margin is required when the Available margin against the position goes below the Minimum margin required to be maintained for the position.

How do you calculate additional margin required for margin buy positions which come into the Intra-day Mark to Market loop?

1. Additional Margin for Broker square off mode positions that come in Mark to Market loop is calculated as New Initial Margin less the Available Margin. Here the New Initial Margin is calculated as CMP for the Position * Position Quantity * Initial Margin%

For example: You have bought 100 shares of ACC at 600 each. IM% on ACC is 16% and MM% is 11%. You would be having a margin of 9600 blocked against this position and the Amount payable against this position would be 50400. The current market price is now say 550. The Minimum Margin for this position is calculated as: Weighted Average position price * Position Quantity * MM% for Broker mode i.e. 600*100*11%, which is 6600 The Available margin will be calculated as: Total Margin blocked including add margin if any ± MTM Profit/Loss i.e. 9600-((600-550)* 100), which is 4600 Since, Available Margin is less than Minimum Margin, Additional Margin is calculated as: New Initial Margin - Available Margin where, New Initial Margin =CMP for the Position * Position Quantity * Initial Margin% i.e. New IM = 550 * 100 * 16%, which is 8800 So the Additional Margin would be = 8800 - 4600 = 4200 Now the system will check if the Additional Margin requirement can be met from the free limits. Lets say the limits are 4000. Entire 4000 would be blocked and since limits were not sufficient to cover the Additional Margin requirement the system will re-calculate the margins as per the above steps. If still the available margin falls below the minimum margin & limits are not sufficient to cover the Additional Margin requirement the system will cancel pending orders in that scrip, if any, then system will try and check margin availability and block available limits upto additional margin requirement. If still limits are insufficient and your position is in the MTM loop the system will proceed to calculate the square off quantity.In case the Limits available were 5000 above then the system would do an add margin for 4200 and the position would have been safeguarded from being squared off.

2. Additional Margin for Client square off mode positions that come in the Mark to Market loop is calculated in two phases as follows:

In phase one, if Available Margin is less than Minimum Margin, Additional Margin is calculated as: Amount Payable - (Available Margin-(Available Margin*IM%)). Here IM%= Margin% defined for the scrip on the Stock List page in Equity Section. The system will try and block this Additional Margin from the free limits. In case free limits are not available or the limits are not sufficient to meet the Additional Margin requirement, the position gets into square off mode and the intra-day mark to market process enters the second phase. In case there is limit available then limits will be blocked against the position requiring maximum additional margin in that scrip and the limits blocked will reduce the Amount Payable to the extent of limits blocked. In phase two, if there are no limits or limits were insufficient above then, the system will follow the following: Cancel all the pending orders in the scrips that are short of margin Recalculate the Minimum Margin and Available Margin as the Minimum Margin requirement will go down to the extent of limits blocked (if any). Recalculate the Revised Initial Margin as: Amount payable + (Amount payable amount * (IM%/(1-IM%))). Recalculate Additional Margin as: Revised Initial margin - Available Margin For example: You have bought 100 shares of ACC at 600 each. IM% on ACC is 25% and MM% is 16%. You would be having a margin of 15000 blocked against this position and the Amount payable against this position would be 45000. The current market price is now say 500. The minimum margin for this position is calculated as: Amount Payable + (Amount Payable * MM%) i.e. 45000 +(45000*16%), which is 52200 The Available margin will be calculated as: CMP * Position Quantity i.e. 500 * 100, which is 50000 Since, Available Margin is less than Minimum Margin, Additional Margin is calculated as: Amount Payable - (Available Margin-(Available Margin * IM%)) {45000-[50000-(50000*25%)]}= 7500 So the Additional Margin would be 7500. Now the system will check if the Additional Margin requirement can be met from the free limits. Lets say the limits are 5000. Entire 5000 would be blocked and since limits were not sufficient to cover the Additional Margin requirement the system will re-calculate the margins in phase 2. Amount Payable will be 45000-5000 (limits blocked) = 40000 Minimum Margin will be 40000+(40000 *16%) = 46400 Available Margin will be 500*100 = 50000 Revised IM will be calculated as : Amount payable + (Amount payable amount * (IM%/(1-IM%))). i.e. 40000+(40000*(25%/(1-25%))) =53333.33 New Additional margin = Revised IM - Available Margin i.e. 53333.33-50000 =3333.33 So the New Additional Margin would be 3333.33.

What happens if I have more than 1 position under Client square off mode in different settlements in the same scrip?

All positions under Client square off mode will be clubbed at scrip level across settlements for calculation of Amount Payable, Minimum Margin, Available Margin, and additional Margin required.

. Why are positions under Client square off mode clubbed at scrip level for calculation of margins?

Positions under Client square off mode are clubbed at scrip level across settlements to provide the benefit of excess margin available in positions taken in one settlement is adjusted towards positions in another settlement. It is possible that the Available margin for a position is more than the required level of margin and another position in the same scrip does not have sufficient Available margin. In this case it proves beneficial to club the positions in a scrip to provide benefit of excess margin available in a position.

. How do I check if there is a margin shortfall on any margin position?

If available margin on any margin position is highlighted in red colour on the Margin Positions (on T day) / Pending For Delivery (T+1 day onwards) page, it indicates that the available margin on that position has fallen and is very close to breaching the minimum margin requirement but still above required minimum margin. If available margin falls below the minimum margin required on that position, then such position may be squared off in the intraday MTM process if additional margin is not allocated. This shall be considered as a margin call on that position.You are advised to allocate additional margin immediately to meet the margin shortfall else such position may be squared off by I-Sec, on best effort basis.

Further, please note that the Margin Positions and Pending For Delivery pages do not refresh automatically. You need to frequently refresh the page by clicking on 'View' button to view latest details as the Available Margin is subject to change on every change in CMP.

. How do you call for additional margin during the MTM process?

Additional margin required is blocked from the limits available.

What happens if limits are not sufficient to meet the additional margin requirements?

1. In case of positions under Broker square off mode: If limits are insufficient to meet the Additional Margin requirement, the available limit will be blocked and the system will re-calculate the Available Margin, Minimum Margin and Additional margin requirements as explained above. After this the system will cancel pending orders against that scrip and check if limits are now available to meet additional margin requirement. If yes, then system will block the additional margin requirement from the available limits and the position will be safeguarded. If no, then the quantity to be squared off will be calculated by the system.

2. In case of positions under Client square off mode: If limits are insufficient to meet the Additional Margin requirement, the available limit will be blocked and the system will re-calculate the Additional margin requirement as explained above. Additional margin is re-calculated again, as the Amount payable on the position will be reduced by the amount blocked in limits and thus Additional margin requirement will also be reduced. After this, the quantity to be squared off will be calculated.

What will happen if there are more than 1 margin open positions in the same scrip under Client square off mode and the limits are not adequate to cover the Additional Margin requirement for all the positions?

In case the available margin is not sufficient to fulfill the additional margin requirement for all open positions, the available margin would be first allocated to the position that requires the maximum margin followed by the position that requires the next highest amount and so on. Thus limits would be blocked against positions in the descending order of additional margin requirement.

After the entire available limit is blocked as above, the system will re-calculate the Additional margin requirement as explained above and square off the required quantity.

. What happens if the limit is insufficient to meet a margin call but there are unallocated clear funds available in the bank account?

While making an online check for available additional margin, I-Sec would restrict itself only to the extent of trading limit and would not absorb any amount out of un-allocated funds so as to keep your normal banking operations undisturbed. It is, therefore, advisable to have adequate surplus funds allocated for trading when you have open margin positions.

Will the entire position be squared off in case the additional margin required is not available in limits?

No. Only such quantity as calculated by the system during the Intra-day MTM process will be squared off. In some cases the square off quantity may be equal to the position quantity.

How is the square off quantity calculated by the Intra-day Mark to Market process?

1. Broker square off mode positions square off quantity will be calculated as :
	a. X = MIN(MAX(ROUNDDOWN((Available Margin+Current Limit)/(CMP*IM%),0),0),Position Quantity) b. Y = Position Quantity - X c. If Y >=1, then proceed for square off. d. where, X is the position quantity that can continue to be maintained with the available margin and the available limits and Y is the quantity to be squared off by the system.
2. Client square off mode positions square off quantity will be calculated as :
	Total additional margin requirement / CMP * (IM% / (1-IM%)), where CMP is the current Market Price of the scrip or the positions quantity whichever is minimum. The square off quantity arrived by the above formula is rounded up for placing square off order at market price.

IM% is the Margin% applicable to the scrip and is available on the Stock List page and is same for same scrip under Broker and Client square off mode. For viewing the Stock list, login to your account and go to Stock List option in Equity section of the Trading page.

Which position under Client square off mode will be squared off first in case the square off quantity is greater than the position quantity in a scrip in a settlement?

In case positions are open in multiple settlements under Client square off mode in same scrip then the position under a settlement where the Additional margin requirement is the highest will be squared off first, followed by the position having second highest additional margin requirement and so on.

Can I do anything to safeguard the positions from being closed out (squared off)?

Yes, you can always allocate additional margin, suo moto, on any open margin position. Since the close-out process is triggered when losses exceed the threshold level and available margin is less than the margin required, having adequate margins will ensure additional margins are available in case the market turns unfavourably volatile with respect to your position. You can add margin to your position by clicking on 'Add Margin' link on the 'Margin Positions' or 'Pending for Delivery' page by specifying further margin amount to be allocated against the respective position.

Please note there is also an additional tracking tool provided to track your positions on the basis of Trigger Price and LTP. For more details you can refer below FAQs.

What is Trigger price displayed on Margin position page and Pending for Delivery page for Margin positions?

Trigger price is just an additional tracking tool provided to track your positions to ascertain at what price level the position may get squared off on the basis of Trigger Price and LTP. However, you can continue to track your positions for intraday mark to market process on the basis of Available Margin and Minimum Margin and allocate additional margin if Available Margin amount is displayed in red colour.

Trigger price is a price which indicates that your Margin position may get squared off if LTP breaches the indicated trigger price. Positions may be squared off due to below two reasons :

1. Intraday Mark to Market process
   
   
2. LTP moves beyond a certain % from previous day close price (process for Price Band scrips)

Is Trigger Price calculated for all scrips i.e. Price Band and No Band scrips?

Yes Trigger price will be calculated for all scrips :

1. Price Band Scrips:- In case of Price Band scrips trigger price will be calculated with regards to both Intraday Mark to Market process (based on minimum margin requirement) and process where LTP moves beyond a certain % from previous day's close price (based solely on price movement without considering margin requirement) and higher of the two will be displayed in case of Buy positions and lower of the two will be displayed in case of sell positions.
   
   
2. No Band Scrips:- In case of no price band scrips Trigger price will be calculated only with regards to Intraday Mark to Market to process (based on minimum margin requirement).

Is Trigger Price calculated for both Broker mode and Client mode positions?

Yes. Trigger Price is calculated for both Broker Mode and Client Mode positions.

Will Trigger Price be calculated immediately on order placement?

No, trigger price will not be calculated immediately on order placement. Trigger Price gets calculated only once your Buy or Sell order in Broker mode product and Buy Order in Client Mode product results into an executed trade and becomes an open position.

How is the Trigger Price calculated for Margin Broker mode positions ?

Trigger Price is calculated as follows:

1. In case of Price band scrips:
   
   1. In case of Buy Broker mode positions:
      
      Example: ACC is a price band scrip and you have bought 100 shares of ACC at 600 each. IM% on ACC is 4% and MM% on ACC is 2%. Previous Day close for ACC is Rs 590
      
      
      1. Trigger Price calculation as per Intraday MTM Process for Buy Positions: Weighted Average Trade Price-(( Initial Margin Blocked - Minimum Margin)/Position Quantity).
         
         600-((2400-1200)/100)=588
         
         
      2. Trigger Price calculation as per LTP moving beyond a certain % process ( which is say 16%) for Buy Positions: Previous Day Close-(Previous Day Close * 16%).
         
         590-(590*16%)=495.60
      
      In the above case Trigger price would be displayed as Rs 588 on Margin position page as higher of Intraday MTM Trigger price and LTP moving beyond a certain % Trigger price would be displayed.
      
      
   2. In case of Sell Broker mode positions:
      
      Example: ABB is a price band scrip and you have sold 100 shares of ABB at 1095 each. IM% on ABB is 4% and MM% on ABB is 2%. Previous Day close for ABB is Rs 950.
      
      
      1. Trigger Price calculation as per Intraday MTM Process for Sell Positions: Weighted Average Trade Price+(( Initial Margin Blocked - Minimum Margin)/Position Quantity).
         
         1095+((4380-2190)/100)=1116.90
         
         
      2. Trigger Price calculation as per LTP moving beyond a certain % process ( which is say 16%) for Sell Positions: Previous Day Close+(Previous Day Close * 16%).
         
         950+(950*16%)=1102
      
      In the above case Trigger price would be displayed as Rs 1102 on Margin position page as lower of Intraday MTM Trigger price and LTP moving beyond a certain %Trigger price would be displayed.
      
      Please note that Trigger price as per LTP moving beyond a certain % and Intraday Mark to Market process will be calculated only for Price Band scrips. For other scrips i.e no band scrips Trigger price will be calculated only with regards to Intraday Mark to Market process.
      
      
2. In case of No Band scrips:
   
   
   1. In case of Buy Broker mode positions: Trigger price for no band scrips will be calculated as follows:
      
      Example: CIPLA is a non price band scrip and you have bought 100 shares of CIPLA at 650 each. IM% on CIPLA is 4% and MM% on CIPLA is 2%.
      
      Trigger Price calculation as per Intraday MTM Process: Weighted Average Trade Price-(( Initial Margin Blocked - Minimum Margin)/Position Quantity).
      
      650-((2600-1300)/100)=637
      
      In the above case Trigger price would be displayed as Rs 637 on Margin position page.
      
      
   2. In case of Sell Broker mode positions: Trigger price for non band scrips will be calculated as follows:
      
      Example: RELIND is a non price band scrip and you have sold 100 shares of RELIND at Rs 1000 each. IM% on RELIND is 4% and MM% on RELIND is 2%. Trigger Price calculation as per Intraday MTM Process: Weighted Average Trade Price+(( Initial Margin Blocked - Minimum Margin)/Position Quantity).
      
      1000+((4000-2000)/100)=1020.
      
      In the above case Trigger price would be displayed as Rs 1020 on Margin position page.
      
      Please note that CIPLA and RELIND here are no price band scrips hence Trigger price as per LTP moving beyond a certain %process will not be calculated.

How is the Trigger Price calculated for Margin Client Mode positions ?

Trigger Price is calculated as follows :

1. In case of Price Band Scrips: Trigger Price for price band scrips will be calculated as follows:
   
   Example: ABC is a price band scrip and you have bought 100 shares of ABC at Rs 500 each. IM% on ABC is 8% and MM% on ABC is 5%. Previous Day close for ABC is Rs 510
   
   
   1. Trigger Price calculation as per Intraday MTM process for Buy positions: Minimum Margin/Total Quantity
      
      48300/100=483
      
      
   2. Trigger Price calculation for process where LTP moving beyond a certain % from previous day's close price ( which is say 21%) for Buy Positions: Previous Day Close-(Previous Day Close * 21%). Note: This percentage would be subject to change at the sole discretion of I-Sec from time to time
      
      510-(510*21%)= 402.9
   
   In the above case, Trigger price would be displayed as Rs 483 i.e. higher of Intraday MTM Trigger price and LTP moving beyond a certain % Trigger price
   
   
2. In case of No Band scrip: Trigger Price for No Band Scrip will be calculated as follows:
   
   Example: GAIL is a non price band scrip and you have bought 100 shares of GAIL at Rs 350 each. IM% on GAIL is 8% and MM% on GAIL is 5%
   
   Trigger Price Calculation as per Intraday MTM process: Minimum Margin/Total Quantity
   
   33810/100=338.10
   
   In the above case Trigger price would be displayed as Rs 338.10
   
   Please note that GAIL here is a no price band scrip hence Trigger price as per LTP moving beyond a certain %process will not be calculated

How is Trigger Price calculated if I have more than 1 position under Client square off mode in different settlements in the same scrip?

All the positions under Client square off mode will be clubbed at scrip level across settlements for calculation of Trigger Price.

1. In case of Price Band Scrips: Trigger Price for price band scrips will be calculated as follows:
   
   Example : You have a positions of 100 Qty in XYZ (Price Band Scrip)at Rs 135 taken in settlement no. 2017140 and another position of 100 Qty in XYZ at Rs 140 taken in settlement no. 2017141 . IM % on XYZ is 8% and MM% on XYZ is 5%.Previous Day Close for XYZ is Rs 160
   
   
   1. Trigger Price calculation as per Intra Day MTM process :
      
      Total Quantity : Sum of Quantity across settlement
      
      100+100=200 Qty
      
      Total Minimum Margin : Total Net Payable amount + (Total Net Payable amount * Minimum Margin percentage)
      
      25300+(25300*5%)=26565
      
      Trigger Price : Total Minimum Margin/ Total Quantity
      
      26565/200=132.83
      
      
   2. Trigger Price calculation for process where LTP moving beyond a certain % from previous day's close price (which is say 21%): Previous day Close -(Previous day Close* 21%) Note: This percentage would be subject to change at the sole discretion of I-Sec from time to time
      
      160-(160*21%)= 126.4
      
      In the above case, Trigger price would be displayed as Rs 132.83 i.e. higher of Intraday MTM Trigger price and LTP moving beyond a certain % Trigger price.
      
      
2. In case of No Band scrip: Trigger Price for No Band Scrip will be calculated as follows:
   
   Example : You have a positions of 100 Qty in EXIIND (No Band Scrip)at Rs 150 taken in settlement no. 2016095 and another position of 100 Qty in EXIIND at Rs 160 taken in settlement no. 2016096 . IM % on EXIIND is 8% and MM% on EXIIND is 5%.
   
   Trigger Price calculation as per Intra Day MTM process:
   
   Total Quantity : Sum of Quantity across settlement
   
   100+100=200 Qty
   
   Total Minimum Margin : Total Net Payable amount + (Total Net Payable amount * Minimum Margin percentage)
   
   28520+(28520*5%)=29946
   
   Trigger Price : Total Minimum Margin/ Total Quantity
   
   29946/200=149.73
   
   In the above case Trigger Price would be displayed as Rs 149.73
   
   Please note that EXIIND here is a no price band scrip hence Trigger price as per LTP moving beyond a certain % process will not be calculated.
   

Is Trigger Price recalculated on Change Mode from Broker to Client and vice versa from Margin Position page?

Yes. Trigger price is recalculated on Change Mode from Broker to Client and vice versa from Margin Position page.

Can a Trigger Price earlier displayed change later ?

Yes. Trigger price may change if there is any change in Initial Margin Blocked value. Some of the events where Initial margin blocked value may change are like Increase in open position in same scrip, partial square off of existing position, Add Margin, and Convert to Delivery.

Is the brokerage rate different for Cash and Intra day Margin product transactions?

Yes. The brokerage plan is different for Cash and Intra day Margin product transactions. For more details on the brokerage plans please visit the site www.icicidirect.com < Customer Service Page < Important Information < Brokerage

Is the brokerage rate different for positions which are marked as 'Pending for Delivery' i.e. are not squared off in the same settlement?

Yes. Margin buy open positions that are marked as 'Pending for Delivery' shall attract the brokerage as applicable for the Cash product transactions.

Is there any interest on positions which are marked for 'Pending for Delivery'?

Yes interest on late payment for positions taken in NSE and Interest on Outstanding obligation for margin trading positions in BSE would be calculated as follows:

1. On amount payable
2. Margin blocked in the form of Shares as Margin (SAM)
3. Additional interest, if any in case above interest charged falls below the minimum interest requirement under the provisions of Companies Act. This will apply irrespective of margin blocked in the form of Cash or SAM.

How is Interest calculated on Amount Payable? Where can I see the Interest amount charged?

Interest will be calculated on the amount payable for the number of days delay in payment on your pending for delivery positions. The number of days delay would start from the exchange payin date for the settlement of the respective transaction and charged till the date the funds are actually received (eg. till the date of CTD or add margin or till the date of funds received/pay out date after squaring off of positions). The interest shall be charged per day basis would be displayed under the 'Interest on Outstanding obligation Details' link under your Equity trading section.

For example:

1. You bought 500 qty shares of ACC at Rs. 200 under client mode on May 14, 2012 with 25% Cash Margin and sold full qty on May 21, 2012. In this example interest on Outstanding obligation would be calculated as follows:
   
   Amount Payable = (500*200)-(500*200*25%) = 75000
   Buy transactions Exchange Payin Date = T+2 i.e. May 14, 2012 + 2 days = May 16, 2012
   Sell Square off transactions Exchange Payout Date = T+2 i.e. May 21, 2012 + 2 days = May 23, 2012
   No. of days delay in payment = May 16 to May 23, 2012 = 7 days delay
   Thereby, for the above case say interest is 0.05% per day or alternatively approximately 18% p.a. then this would be calculated on the amount payable for 7 days delay as follows:
   Interest on Outstanding obligation / Late Payment per day = Amount Payable * Interest % on Outstanding obligation / Late Payment *1/ 365 =75000*18%*1/365 = Rs. 36.98/- per day or Rs. 258.90/- for 7 days or approximately 0.05% per day
   The above interest amount on a per day basis from T+3 day i.e. May 17, 2012 onwards till May 23, 2012 would be displayed on the Interest on Outstanding obligation Details link under your Equity trading section.
   
   
   
2. In the above example say if you did CTD of full 500 shares on May 17, 2012 then interest on Outstanding obligation / Late Payment would be calculated for one day's delay as follows: No. of days delay in payment = May 16 to May 17, 2012 = 1 day
   Interest on Outstanding obligation / Late Payment = 75000 * 18%*1/365 = Rs. 36.98/- or approximately 0.05% per day
   
   
3. Similar to above example say if you did full add margin of Rs.75000 using Cash Limit on May 17, 2012 instead of CTD then interest on Outstanding obligation / Late Payment as the case would be calculated for one day's delay as follows:
   No. of days delay in payment = May 16 to May 17, 2012 = 1 day Interest on Outstanding obligation / Late Payment = 75000 * 18%*1/365 = Rs. 36.98/- or approximately 0.05% per day
   
   
4. In the above example say if you did CTD of 100 shares on May 17, 2012 and squared off the balance 400 shares on May 21,2012 then the interest on Outstanding obligation / Late Payment would be calculated as follows:
   
   Total No. of days delay in payment = May 16 to May 23, 2012 = 7 days delay
   Daily interest on Outstanding obligation would be calculated as follows:
   
   May 17, 2012: Amount payable for 500 shares = 75000, Interest = 75000*18%/365= Rs. 36.98 or approximately 0.05% per day
   May 18, 2012: Amount payable for 400 shares since 100 shares CTD done = 75000 - CTD proportion of amount payable = 75000-15000 = 60000, Interest= 60000*18%/365= Rs.29.58 or approximately 0.05% per day
   May 19, 2012: Amount payable for 400 shares = 60000, Interest = 60000*18% /365=Rs. 29.58 or approximately 0.05% per day
   May 20, 2012: Amount payable for 400 shares = 60000, Interest = 60000*18%/365=Rs.29.58 or approximately 0.05% per day
   May 21, 2012: Amount payable for 400 shares = 60000, Interest = 60000*18%/365=Rs.29.58 or approximately 0.05% per day
   May 22, 2012: Amount payable for 400 shares = 60000, Interest = 60000*18% /365=Rs.29.58% or approximately 0.05% per day
   May 23, 2012: Amount payable for 400 shares = 60000, Interest = 60000*18% /365=Rs.29.58 or approximately 0.05% per day
   
   
5. You bought 500 qty shares of ACC at Rs. 200 under client mode on May 14, 2012 with 25% Cash Margin and sold full qty on T+1 i.e. May 15, 2012. In this example interest on Outstanding obligation / Late Payment would be calculated as follows:
   
   Amount Payable = (500*200)-(500*200*25%) = 75000
   Buy transactions Exchange Payin Date = T+2 i.e. May 14, 2012 + 2 days = May 16, 2012
   Sell Square off transactions Exchange Payout Date = T+2 i.e. May 15, 2012 + 2 days = May 17, 2012
   No. of days delay in payment = May 16 to May 17, 2012 = 1 day delay
   Interest = 75000 *18% *1/365 = Rs. 36.98/- or approximately 0.05% per day
   
   
   

How is Interest calculated on Shares As Margin amount blocked against Pending for Delivery positions . Where can I see the interest amount charged ?

As mentioned in the above FAQ's , interest will be charged for Shares as Margin amount blocked against your Pending for Delivery positions. Interest would be calculated on 'Shares As Margin' (SAM) amount blocked against the position marked under 'Pending for Delivery' for the number of days SAM amount is blocked. The number of days delay would start from the exchange payin date for the settlement of the respective transaction and charged till the date securities Limit is blocked against the position. The interest on securities Limit blocked on a per day basis would be displayed from T+2 Day under the 'Interest on Outstanding Obligation' link under your Equity trading section.

For example:

1. You bought 100 qty shares of XYZ at Rs. 500 under client mode using securities Limit on December 5, 2016 with 20% Margin and sold full qty on December 12, 2016. In this example interest on securities Limit blocked would be calculated as follows:
   
   SAM Amount Blocked = (500*100*20%) = 10000
   Buy transactions Exchange Payin Date = T+2 i.e. December 5,2016 + 2 days = December 7,2016
   Sell Square off transactions Date = T+5 i.e. December 12, 2016
   No. of days SAM Amount Blocked = December 7 to December 11, 2016 = 5 days
   Thereby, for the above case say interest on SAM Amount blocked is 0.05% per day or alternatively approximately 18% p.a. then this would be calculated on SAM Amount blocked against the position for 5 days as follows:
   Interest on SAM Amount blocked per day = SAM amount Blocked against position * Interest % on SAM blocked *1/ 365 =10000*18%*1/365 = Rs. 4.93/- per day or Rs.24.65/- for 5 days or approximately 0.05% per day
   The above interest amount on a per day basis from T+2 day i.e. December 7, 2016 onwards till December 11, 2016 would be displayed on the Interest on Outstanding Obligation link under your Equity trading section.
   
   
   
2. In the above example say if you did CTD of full 100 shares on December 8, 2016 then interest on SAM Blocked would be calculated for one day i.e for December 7, 2016
   Interest on SAM blocked = 10000*18%*1/365 = Rs. 4.93/-or approximately 0.05% per day
   
   
3. Similar to above example say if you did full add margin of Rs.40000 from securities Limit on December 8, 2016 instead of CTD then interest on SAM Amount blocked would be calculated from December 8, 2016 to December 11, 2016 as follows:
   
   SAM Blocked = 10000 + 40000
   Interest on SAM blocked = 50000 *18%*1/365 = Rs. 24.65/- or approximately 0.05% per day
   
   
4. In the above example say if you did CTD of 10 shares on December 8, 2016 and squared off the balance 90 shares on December 12, 2016 then the interest on Outstanding Obligation/Late payment would be calculated as follows:
   
   Total No. of days SAM Amount Blocked = December 7 to December 11, 2016 = 5 days
   Daily interest on outstanding obligation/Late Payment would be calculated as follows:
   December 7, 2016: SAM Blocked for 100 shares = 10000, Interest = 10000*18%*1/365 = Rs. 4.93/- or approximately 0.05% per day
   December 8, 2016: SAM Blocked for 90 shares since 10 Shares CTD done = 10000- CTD proportion of SAM amount blocked= 10000-1000 =9000, Interest = 9000*18%*1/365 = Rs. 4.43/- or approximately 0.05% per day
   December 9, 2016: SAM Blocked for 90 shares =9000, Interest = 9000*18%*1/365 = Rs. 4.43/- or approximately 0.05% per day
   December 10, 2016: SAM Blocked for 90 shares =9000, Interest = 9000*18%*1/365 = Rs. 4.43/- or approximately 0.05% per day
   December 11, 2016: SAM Blocked for 90 shares =9000, Interest = 9000*18%*1/365 = Rs. 4.43/- or approximately 0.05% per day
   December 12, 2016: SAM Blocked for 90 shares will be zero, hence no interest will be charged on SAM
   December 13, 2016: SAM Blocked for 90 shares will be zero, hence no interest will be charged on SAM
   December 14, 2016: SAM Blocked for 90 shares will be zero, hence no interest will be charged on SAM
   
   
5. You bought 50 qty shares of TCS at Rs. 2000 under client mode using securities limit on December 5, 2016 with 15% Margin and sold full qty on T+1 i.e. December 6, 2016. In this example interest on Outstanding obligation / Late Payment would be calculated as follows: .
   
   Initial Margin (Blocked using SAM Margin) =50*2000*15%=15000
   Amount Payable = (2000*50)-15000 =100000-15000 = 85000
   Buy transactions Exchange Payin Date = T+2 i.e. December 5, 2016 + 2 days = December 7, 2016
   Sell Square off transactions Exchange Payout Date = T+2 i.e. December 6, 2016 + 2 days = December 8, 2016
   No. of days delay in payment = December 7 to December 8, 2016 = 1 day delay
   Say Interest % for Interest on Outstanding Obligation be 0.05% per day
   Interest on Amount Payable = 85000*0.05% = 42.5 or approximately 0.05% per day
   In this case no interest would be calculated on SAM amount blocked of Rs. 15000 against the position since full qty is sold on T+1 and only Interest of 42.5 would be charged on amount payable of Rs 85000 for 1 day delay in payment.
   
   

How is interest on Pending for Delivery positions calculated if Margin blocked contains both Cash as well as SAM component?

In case Margin blocked contains both Cash as well as SAM component then Interest on Pending for Delivery positions will be calculated as below :

Example : You have bought ABC share of 100 Qty at a price of Rs 1000 with 10% Initial Margin.
Position Value = 1000*100 =100000
Initial Margin (blocked using SAM Margin) = 1000*100*10% = 10000.
Add Margin (Using Cash Margin) = 75000
Amount Payable = 100000- (10000+75000) = 100000- 85000 =15000
Say Interest % for Interest on Outstanding Obligation be 0.05% per day
Interest on Amount Payable = 15000*0.05% = 7.5
Interest on SAM = 10000*0.05% = 5
Total Interest = 12.5

Is there any additional Interest on Pending for Delivery positions apart from the Interest charged on amount payable and margin blocked in the form of 'Shares As Margin'(SAM) ?

Yes. As mentioned above , additional interest (if any) may be charged in case interest charged on Amount payable and SAM amount blocked falls below the minimum interest requirement under the provisions of Companies Act. This will apply irrespective of margin blocked in the form of Cash or SAM.
Please refer the Example mentioned in the above FAQ wherein Total Interest = 12.5
Now Say the Minimum Interest required as per Companies Act is 0.02%
Then, Minimum Interest amount required as per Companies Act = 100000*0.02%=19
Then Additional Interest that may be charged will be = 19-12.5 =6.5

How can I reduce my Interest on Outstanding Obligation?

Yes. You can reduce your interest on Outstanding Obligation by doing Convert to Delivery for your pending for Delivery positions.

Do I need to pay TDS (Tax Deducted at Source) for the Interest on Outstanding Obligation charged under MTF ?

If you are a body corporate or a person to whom tax audit is applicable, then you are liable to deduct tax on the interest paid to ICICI Securities Ltd (I-Sec). Please refer few details in this regards:

1. You need to pay TDS under section 194A of the Income Tax Act, 1961 at the rate applicable from time to time
2. The TDS needs to be paid to Government (Income Tax Department) using your TAN (Tax Deduction Account Number) by 7th day of the following month( in case of March due date is April 30th) in which TDS was deducted. For eg. If TDS on interest paid to I-Sec is deducted in the month of July 2017 then TDS needs to be paid to Government by 7th August 2017.
3. On a quarterly basis you need to file the TDS return online on TRACES website, quoting I-Sec PAN (AAACI0996E) against the deduction of TDS on interest paid to I-Sec
4. Post filing of TDS return, download the TDS certificate from TRACES and email the same to us at financialmanagers@icicisecurities.com
5. The TDS amount paid by you will be credited to your account once I-Sec receives the TDS Certificate as stated in above point.

What brokerage will be charged on margin positions taken in the current settlement and converted to delivery on the same day?

All margin positions converted to delivery on the same day shall attract the brokerage (including statutory charges) as applicable for Cash product transactions.

Can open position be squared off in different exchange?

With the implementation of interoperability, open position can be squared off in any exchange by using 'Square Off' option on Margin & MTF Open Position page.

What does 'Y' / 'N' indicate in Interop column in Order Book?

With the implementation of interoperability, if the square off order is placed in the different exchange by using 'Square Off' option on Margin & MTF Open Position page then 'Y' is displayed for this order in Interop column and otherwise 'N' is displayed.

Can interop order quantity be modified more than open position quantity?

No. Interop order quantity can't be modified more than open position quantity. In Margin, to place reverse flow order of excess quantity, separate order can be placed. In MTF, sell order for excess quantity can't be placed.

What happens in EOS (End Of Settlement) in case of unexecuted/pending interop square off orders?

Any unexecuted/pending square off orders (including interop orders) get cancelled in EOS (End Of Settlement) and Market Square Off Order gets placed at the exchange (source exchange) where original position(s) is/are created.

Why is Open Position exchange getting displayed different than the order exchange?

With the implementation of interoperability, if interop order gets executed after reverse flow order from Margin page then separate open position may get created for interop order and it is displayed with source exchange i.e. original position exchange.

What forms of Margin are acceptable for taking Margin positions?

In order to take margin positions, margin can be given in the following forms:

1. Cash (by way of allocation of funds from your bank account)
2. Specified securities (by way of blocking securities allocated from your Demat account in favour of ICICI Securities).

On what positions would the cash Margin debited?

Cash Margins would be debited on Margin Client mode open positions on NSE and BSE.

Will any Margin get debited if I have taken position by blocking shares in my Demat Account?

No. In case the total margin required on your total open positions is met by the blocked shares alone, in such case no funds would be debited as margin from your account even if there are idle funds lying in your linked bank account. However, margin will get debited in any of the following scenarios:

1. In case the total margin required on your total open positions is partially met by the blocked shares, in such case the balance required margin amount at end of day shall get debited from your bank allocation in Equity from your linked bank account.
2. In case there are no blocked shares in your account, then the entire required margin amount at end of day shall get debited from your bank allocation in Equity from your linked bank account.

When will Margin be debited from my linked bank account?

Margin shall be debited from your linked bank account at end of the day from your Equity allocation to the extent of limit utilized after adjusting shares as margin available and blocked against the total margin blocked against your Pending for Delivery Positions (PFD) on PFD page.

Can the blocked margin get released?

No. The blocked margin cannot be released as that is the required margin against positions. However, please note in case the initial margin blocked in 'Pending for Delivery' page is reduced then the debited I-Sec Margin will be credited to Equity allocation of your linked bank account at the End of the day after adjusting shares as margin.

Can I withdraw the margin during the day?

No. You cannot withdraw the margin amount during the day.

In what scenarios will excess debited margin be credited back to my account?

The excess margin amount deposited with ICICI Securities can be credited at EOD in below mentioned scenarios. The margin amount will get credited to the Equity allocation of your linked bank account.

1. By blocking additional shares lying in your demat account up to the extent of margin required and doing 'Release Cash and Block SAM' from Pending for Delivery page.
   Example,
   On T-1 day, Rs.5000 (Rs.3000 as shares and Rs.2000 cash debited from your allocation and kept in I-Sec Margin account) margin was required on your total open positions on 'Pending for Delivery' page. Now, say on T day EOD, the new margin requirement is Rs.5400 and at the same time free Shares as Margin limit provided by you is 5400. In such case, after doing 'Release Cash and Block SAM', system would release 2000 cash margin in your Equity Allocation under Block for Trade and block full SAM
2. By squaring off the open positions.

. Where can I see the Margin amount debited from my linked bank account?

You can see the Margin amount on Equity limit page under I-Sec Margin amount in your trading account. Also, you can visit 'I-Sec Margin History' link on 'I-Sec Margin Details' page to see the historical records of I-Sec Margin debit or credit.

Is there any restriction on debit/credit of I-Sec margin amount?

Yes. ICICI Securities will not debit/credit I-Sec margin amount in case I-Sec margin debit/credit amount is less than minimum amount set which will be at the discretion of ICICI Securities.

What is the margin requirement for MTF sell transaction?

As per regulatory requirements, upfront margin is required to be collected on sell transaction as well in Cash market segment which is 20% of the traded value. Accordingly, for MTF sell transaction done on T+1 day for scrip bought on T day, additional margin is required and you are required to keep sufficient limits in your account that will be blocked based on margin requirements and will be released on settlement day of buy transaction. At end of the day it will be debited and on settlement day it will be credited back to your account and respective Equity limits. In case of insufficient additional required limit, such MTF sell order on T+1 day will not get placed.
e.g. On 21st Sept MTF sell transaction is done against MTF buy of 20th Sept, then additional margin will be blocked on such transaction as per margin requirements. BTST trade value is say Rs.120 and MTF buy trade value is say Rs. 100 then 20% of (120+100=220) i.e. Rs. 44 margin is required to be maintained for placing MTF sell order on T+1 day.

What is 'Square Off and Quick Buy' on Pending for Delivery page?

Square Off and Quick Buy' is an additional facility which will help you to square-off (Sell) your existing Pending for Delivery position and take a fresh Buy position in same scrip. Under this feature you will be required to complete two steps to place two orders one after the other and both orders will be market orders. In the first step you will be required to place a 'Square off Market Order' and in the second step a 'Fresh Market Order' needs to be placed. Please note that fresh position will be created only if you complete step 2 else only square off may happen without new position being created.

Can I place 'Square Off and Quick Buy' orders from both Margin positions and Pending for Delivery page?

No. 'Square Off and Quick Buy' facility will be allowed only from Pending for Delivery page against your positions which have not been squared off on T day.

Can 'Square Off and Quick Buy' orders be placed for all scrips on Pending for Delivery page?

No. 'Square Off and Quick Buy' facility will be provided only for select scrips which meet the criteria on liquidity and volume from time to time.

On which exchanges will I be able to use the 'Square Off and Quick Buy' facility?

Currently, as Client square off mode is available on both National Stock Exchange of India (NSE) and Bombay Stock Exchange of India (BSE), this facility will be provided on both NSE and BSE.

From where can I place 'Square Off and Quick Buy' orders?

A link named 'Square Off and Quick Buy' will appear on Pending for Delivery page against your positions from T+1 day onwards. You can click on this link to square off existing position and create fresh positions anytime before the stipulated time and before the EOS process is run for that settlement.

In case I choose 'Square Off and Quick Buy' link to square off and create new position in same scrip in which square off mode will my position be created?

This feature is provided against your positions which were originally created with Client square off mode. Hence all positions on Pending for Delivery page will be created through 'Square Off and Quick Buy' link in Client square off mode itself.

How will the 'Square Off and Quick Buy' facility work?

Once you click on 'Square Off and Quick Buy' link from your Pending for Delivery page, a two step order placement page will open. Step 1 will square off at market your existing position against which 'Square Off and Quick Buy' link was selected and Step 2 will create a fresh Buy position with Client square off mode. Both the steps can be performed one after the other, both orders will be market orders and second step order can be placed only once the first step order is executed for full quantity. In case of single order with higher quantity, it is advisable to wait for a while after Step 1 to smoothly proceed with Step 2. In case you proceed before full execution of square off order quantity then an appropriate message will be displayed to re-try Step 2 to ensure creating a fresh position. It is advisable to go back and Re-try Step 2 of placing Fresh Order.

Can I place 'Square Off and Quick Buy' order for part quantity against my Pending for Delivery position?

Yes. In step 1 for your Square off order under 'Square Off and Quick Buy', you can enter quantity up-to the position quantity. Accordingly, by default the same quantity will be auto populated in Step 2 to create Fresh market order. However, in Step 2 for Fresh Market order, you have the choice to edit and enter any quantity of your choice to create new position under Client square off mode.
For example: If you have buy position of 150 quantity in ACC, then you can place 'Square Off and Quick Buy' order for 50 or 100 or 150 quantity of your choice maximum upto the position quantity.

Can I place 'Square Off and Quick Buy' order to create new position with higher quantity than the original position ?

Yes. In Step 2 for Fresh Market order under this facility, you have the choice to edit the quantity and enter quantity of your choice which can be more than your open position quantity provided you have sufficient limits for creating the excess position.

How will I place Fresh Market order in case I come out without completing Step 2 of 'Square Off and Quick Buy' ?

For any reason, if you come out without completing Step 2 and full position is squared off, you may visit Margin Client/Flexi Cash Buy page and place fresh order for the desired quantity to complete your Step 2.

Where will I be able to see my fresh position?

On T day all Margin positions including the new position created through 'Square Off and Quick Buy' can be seen on your Margin position page. And T+1 day onwards all open positions i.e. Client mode positions including the new position created through 'Square Off and Quick Buy' will be seen on your Pending for Delivery page.

Can I place Market and Limit orders under the 'Square Off and Quick Buy' facility?

No. It is not possible to place Limit orders under this facility. You are requested to note that in case of market orders if the scrip is liquid and less volatile then execution may take place close to the current market price prevailing but in case of illiquid scrips and volatile market your execution price may vary from the current market price which was prevailing at the time of 'Square Off and Quick Buy' order placement. Thereby, request you to note that there will be impact cost involved and delivery based brokerage would be applied on both the orders i.e. square off and the fresh market order as per the brokerage plan selected by you.

If I have already placed cover order then will I be able to place 'Square Off and Quick Buy' order?

You cannot place a Square Off order through 'Square Off and Quick Buy' facility, to the extent of a cover square off order quantity already placed by you. However, you can continue to place Fresh market order for any quantity of your choice.
For example: If you have buy position of 150 quantity in ACC and have already placed square off order of 50 quantity, then you can place Square Off order for 50 or maximum 100 quantity i.e. maximum upto your net position quantity excluding pending cover order, if any. However, Fresh 'Quick Buy' order under Step 2 can be placed for a quantity of 50 or 100 or 150 or above i.e. any quantity of your choice.

How can I distinguish between 'Square Off and Quick Buy' orders from other orders?

In order book, under the "Order Ref." column, a caption "This is Step 1 - Square Off order"/ "This is Step 2 - Quick Buy order" will be provided against your 'Square Off and Quick Buy' orders to help you easily identify these orders. You are required to monitor the order book online to ensure whether fresh position has been created or not. In case there is only one order i.e. Sell order of square off & due to any reason the second order to create new position was not placed and cannot be seen in the order book then you are required to place a fresh Margin buy order with Client square off mode in case you wish to create a fresh position.

Will my 'Square Off and Quick Buy' orders always get executed?

Under the 'Square Off and Quick Buy' facility there are two separate market orders required to be placed which are independent and have to be placed one after the other. Further, please note that execution will happen only at exchange end provided there is sufficient liquidity and both the orders get suitable match. I-Sec does not guarantee execution of orders since these are two independent orders and it may so happen that only one order is placed or only one order is executed. Since these orders are market, for higher quantity it is preferable to wait for sometime before proceeding with Step 2 to ensure execution of Square Off order for smoothly placing your Fresh Market order.

Can I Place 'Square Off and Quick Buy' orders after market hours?

No, you cannot place 'Square Off and Quick Buy' orders after market hours. This facility involves market order placement under Margin product and is available only during market hours.

Will I be able to place 'Square Off and Quick Buy' orders on the date of expiry for Pending for delivery positions?

Yes, you will be able to use this facility till the date of expiry of your Pending for delivery positions in both NSE and BSE provided that particular scrip is enabled for 'Square Off and Quick Buy' and EOS process is not run.

How will margining be done for 'Square Off and Quick Buy' orders?

Two orders will be placed one after the other where square off order does not require any margin. However, margin requirement then prevailing will apply for the new position being created while placement of Fresh Market order under step 2.

If you do not have sufficient limits required to place Fresh order under step 2, then you will not be allowed to place Fresh market order under step 2 against your position which will be squared off as per step 1. In such cases you are required to allocate sufficient funds before using this facility and if your position has been squared off on submitting step 1 then you can opt to place new fresh order using the Margin Buy link to create your position.

For Example 1: You have a position of 50 quantity Buy in ACC at Rs. 1200/- and your Flexi Cash/Client mode IM% is 15%. You now want to recreate this entire position and LTP of ACC is 1250 at that time.

Then in the above example;

Existing Margin blocked = 1200*50*15% = 9000/-
New Margin required = 1250*50*15% = 9375/-
Notional Profit/(Loss) = (1250-1200)*50 = 2500/- Profit

In the above example Rs.375/- additional margin will be required as compared to the existing margin blocked. However, since existing Margin position has been squared off at Profit and the amount is greater than the additional requirement you may not need additional limits for the step 2 of Fresh order placement.

Example 2: You have a position of 50 quantity Buy in ACC at Rs. 1200/- and your Flexi Cash/Client mode IM% is 15%. You now want to recreate this entire position and LTP of ACC is 1100 at that time.

Then in the above example;

Existing Margin blocked = 1200*50*15% = 9000/-
New Margin required = 1100*50*15% = 8250/-
Notional Profit/(Loss) = (1100-1200)*50 = 5000/- Loss

In the above example since there is a loss on square off existing position in case you don't have sufficient limits then your second step to take Fresh market order will not go through and 'Quick Buy' order under step 2 will not be successful since limits will be required to the extent of entire margin amount of Rs. 8250 after considering the loss of Rs.5000/- from the existing limits.

Are there any additional charges for 'Square Off and Quick Buy' orders ?

No. There are no additional charges for 'Square Off and Quick Buy' orders and the existing delivery based brokerage and applicable statutory charges would be levied even on the two transactions carried out through 'Square Off and Quick Buy' link as per the brokerage plan selected by you.

What is MarginPLUS?

MarginPLUS is an intra day product having an order placement feature wherein you limit your loss on every position by necessarily placing a cover order specifying the SLTP and a limit price. The product also offers you an option to protect your gains by placing a cover profit order at a limit price which would get executed when your profit price has reached without you having to monitor the markets on a continuous basis.

What is fresh order?

The order which is placed for creating the position is called fresh order. The fresh order can be either a Market or a Limit order.

Can I place a limit fresh order?

Yes, fresh order can be placed as a Limit order.

What is a cover order?

The fresh order as defined above creates an open position in the MarginPLUS product. The cover order is an opposite order taken by you to close your open position. Assuming you have taken a buy position, your cover order will naturally be a sell order. The cover order will compulsorily have to be a cover SLTP (stop loss) order. You also have an optional facility of placing a cover profit order along with the mandatory cover SLTP order.

Can I place MarginPLUS orders in all stocks?

Only select stocks have been enabled for trading under the MarginPLUS product. Only those stocks, which meet the criteria on liquidity and volume have been enabled for trading under the MarginPLUS product.

I-Sec reserves the right to select the stocks for MarginPLUS and may, at its sole discretion, include or exclude any stock for trading in the MarginPLUS product without any prior intimation.

Is it compulsory to choose a Cover "SLTP Order" while placing a MarginPLUS order?

Yes. It is mandatory to place a Cover SLTP order along with your MarginPLUS fresh order.

Is it compulsory to choose a Cover "Profit Order" while placing a MarginPLUS order?

No. Cover Profit order under MarginPLUS is an optional facility and can be placed only after the position is created from MarginPLUS open positions page. This cover profit order facility is provided to help you book profits on your MarginPLUS position in favourable market conditions without you having to continuously monitor the markets. You may choose to keep your MarginPLUS position with only SLTP as your cover order which is a mandatory cover order required while MarginPLUS order placement.

Can I place a cover profit order after the Fresh and cover SLTP orders have been placed?

Yes, you can place cover profit order only from MarginPLUS open positions page i.e. after your Fresh and cover SLTP orders have been placed. You can place this by clicking on 'Place Profit Order' link in the action column of 'Cover Profit order' section.

Can I place Cover Profit order in all MarginPLUS enabled scrips ?

No. Cover Profit order facility is provided only in select scrips enabled for MarginPLUS. I-Sec reserves the right to stock enablement for profit order facility under the MarginPLUS product and may, at its sole discretion, include or exclude any stock from the MarginPLUS profit order stock list without any prior intimation.

From where do I place the MarginPLUS orders ?

MarginPLUS order comprises of Fresh and Cover SLTP orders which can be simultaneously placed from the same order placement screen. Thereafter Cover Profit order(s) can be placed only from MarginPLUS Position page after the position is created. A separate hyperlink MarginPLUS order is available under the Equity trading section to place these orders.

What is a Cover Stop Loss order?

A Cover Stop loss order allows you to place an order which gets triggered only when the market price of the relevant security reaches or crosses a trigger price specified by the investor in the form of 'Stop Loss Trigger Price'. When a stop loss trigger price (SLTP) is specified in a limit order, the order remains passive (i.e. not eligible for execution) till the price of the stock crosses the specified SLTP. Once the last traded price of the stock reaches or surpasses the SLTP, the order becomes activated (i.e. eligible for execution at the exchange) and once triggered behaves like a normal limit order. It is used as a tool to limit the loss on a position.

Examples:

Cover Stop Loss Buy Order
'A' short sells Reliance shares at 325 in expectation that the price will fall. However, in the event the price rises above his buy price 'A' would like to limit his losses. 'A' may place a limit buy order specifying a Stop loss trigger price of 345 and a limit price of 350. The stop loss trigger price (SLTP) has to be between the last traded price and the buy limit price. Once the market price of Reliance breaches the SLTP i.e. 345, the order gets converted to a limit buy order at 350.

Cover Stop Loss Sell Order
'A' buys Reliance at 325 in expectation that the price will rise. However, in the event the price falls, 'A' would like to limit his losses. 'A' may place a limit sell order specifying a Stop loss trigger price of 305 and a limit price of 300. The stop loss trigger price has to be between the limit price and the last traded price at the time of placing the stop loss order. Once the last traded price touches or crosses 305, the order gets converted into a limit sell order at 300.

Important:

Please note that in a buy order, the SLTP should be a price lower than the buy price i.e less than the last traded price. An SLTP cannot be placed for a price that has already been surpassed by the market when the SLTP is being placed. Similarly, in case of a stop loss sell order the SLTP should be greater than the sell price of fresh order i.e. higher than the last traded price.

What is a Cover Profit Order?

Cover Profit order under MarginPLUS is an optional facility and can be placed only after the position is created from MarginPLUS open positions page. This cover profit order facility is provided to help you book profits on your MarginPLUS position in favourable market conditions without you having to continuously monitor the markets.

What is Reorder in MarginPLUS?

Reorder functionality will help you in quickly recreating similar MarginPLUS orders using the details of the previously placed orders. Please note, default quantity displayed at the time of placing reorder against your MarginPLUS orders/position will be the quantity entered/auto calculated at the time of original order placement. However, if you wish to change the quantity or use Trading Amount feature then you may please edit your order before placing.

Is there any minimum difference % to be maintained between SLTP and Cover Profit order limit price ?

Yes, a minimum difference % between the SLTP and the Cover Profit order limit price has to be maintained at the time of order placement as well as on order modifications. The cover Profit order limit price would be as follows:

1. In case Cover Profit order is a buy order, the cover profit order limit price should be below SLTP by defined % i.e. SLTP - (X% of SLTP)
2. In case the Cover Profit order is a sell order, the cover profit order limit price should be above the Stop Loss Trigger price by defined % i.e. SLTP + (X% of SLTP)

1. In case you have taken a MarginPLUS Sell position of 500 RELIND with Buy cover SLTP order,
   (Sell) Position price = 100
   (Buy) Stop Loss price = 105
   (Buy) Cover Profit Limit price = 105 - (105*5%) = 99.75
   
   In the above case your cover profit order limit price should be less than or equal to 99.75 else the order validation will fail.


2. In case you have taken a MarginPLUS Buy position of 500 RELIND with Sell cover SLTP order,
   (Buy) Position price = 100
   (Sell) Stop Loss price = 98
   (Sell) Cover Profit Limit price = 98 + (98*5%) = 102.90
   
   In the above case your cover profit order limit price should be greater than or equal to 102.90 else the order validation will fail.

Where can I see the minimum difference % for a scrip?

You can view the minimum difference % for various scrips by visiting the Equity stock list link on the Equity trading page of www.icicidirect.com or by clicking MarginPLUS % link on marginPLUS order placement page after entering the stock code.

What are the details required to be given to place a fresh order?

Following details should be provided to place a fresh order.

1. Exchange
2. Stock
3. Action (Buy/Sell)
4. Quantity or Trading amount
5. Order Type - Market/Limit
6. Limit Price (if order type is selected as Limit)

How is Quantity calculated if the Trading Amount is entered? How is Trading Amount calculated if the Quantity is entered?

You have a choice either to enter the Quantity or Trading Amount during MarginPLUS order placement. You are required to enter the cover order's Stop Loss Trigger Price (SLTP) and limit price to use the "Quantity or Trading Amount calculation tool".

A. Quantity and Trading Amount will be calculated and displayed as follows when fresh order type is market order:

1. On entering Trading amount, system calculates and auto populates the quantity by using the best bid/offer price (for your Sell/Buy order respectively) at the point of time when this tool is used. Since First leg is a market order and can get executed at a different price than considered at the time of order placement, the system will consider 99% of the Trading amount chosen by you for deriving the quantity.
   
   Example : You want to take a Buy position in Stock POWGRI with your Equity Current Limit of 10,000/- and the Best Offer Price at that time is 100. Now, say you have entered your cover order SLTP at 99 and Limit Price at 97. The Margin Plus % here is 0% and Margin % is 2%. Thereby, margin to be blocked for 1 quantity is Max{[((100-97)*1)+(100*1*0%)],(100*1*2%)} = 3. The maximum Quantity that can be bought for this stock using the Trading Amount will be calculated as follows:
   1. Trading Amount = 10,000
   2. 99% Trading Amount = 9,900
   3. Maximum Buy Quantity = 9,900 / 3 = 3300
   
   
2. On choosing the Quantity tool option for calculation of Trading Amount, system will calculate and auto populate the required funds i.e. the margin required to take position, that can buy you the desired stock quantity. System calculates required Trading amount using weighted average price of best 5 bid / offer prices for the quantity entered.
   
   Example : You want to take a Buy position in Stock POWGRI for 100 quantity and the weighted average price at that is 105. Now, say you have entered your cover order SLTP at 102, auto-populated Limit Price is 100 and MarginPLUS % is 0% and Margin % is 2%. Thereby, margin to be blocked for 1 quantity is Max{[((105-100)*1)+(105*0%*1)],( 105*1*2%)} = 5.
   1. Quantity entered = 100
   2. Required Trading Amount = 100*5 = Rs. 500

1. On entering the Trading amount, system calculates and auto populates the quantity by using the Limit price entered in the Limit Price field of your Fresh Buy/Sell order.
   
   Example: You want to take a Buy position in stock ITC with your Equity Current Limit of Rs 9900 and the Limit price enterd by you for Fresh orders is Rs 350. Now say you have entered your Cover order SLTP at Rs 340 and Limit price at Rs 335. The Margin Plus % here is 0% and Margin % is 2%. Thereby, margin to be blocked for 1 qty is Max {[((350-335) *1) +(350*0%*1)], (350*1*2%)} = 15. The maximum quantity that can be bought for this stock using the Trading Amount will be calculated as follows:
   1. Trading Amount = 9900
   2. Maximum Buy Quantity = 9900/15 = 660
   
   
2. On choosing the Quantity option for calculation of Trading Amount, system will calculate and auto populate the required funds i.e. the margin required to take position, that can buy you the desired stock quantity.
   
   Example: You want to take 330 quantity of Buy position in stock ITC and the Limit price you have entered for fresh order is Rs 350. Now say you have entered your Cover order SLTP at 340 and auto populated Limit price is 335. The Margin Plus % here is 0% and Margin % is 2%. Thereby margin to be blocked for 1 quantity is Max{((350-335)*1))+(350*1*0%)],(350*1*2%)} = 15
   1. Quantity Entered = 330
   2. Required Trading Amount = 330*15 = Rs 4950

Are the fresh orders, cover SLTP and cover profit orders to be placed together?

Fresh and cover SLTP orders under MarginPLUS are to be placed together. The Cover profit order is an optional feature and you may choose to place the cover profit order only from MarginPLUS Position page after the position is created.

Should the quantity of fresh ,cover SLTP order and cover profit order be the same?

Yes, the quantity needs to be the same.

What are the details for a cover SLTP order?

The details for a cover SLTP order are as follows:

1. Exchange
2. Stock
3. Action (Buy/Sell)
4. Order Type - Limit
5. Stop Loss Trigger Price
6. Limit price
7. Quantity

What are the details for cover profit order?

The details for a cover Profit order are as follows:

1. Exchange
2. Stock
3. Action (Buy/Sell)
4. Quantity
5. Order Type - Limit
6. Price

Can I cancel the Fresh and Cover SLTP order?

Yes. You can cancel both the orders simultaneously provided they both remain fully unexecuted. If any of the two orders gets execution then you shall not be allowed to cancel any of them.

Can I cancel only Fresh order?

No, only fresh order cannot be cancelled. However, only in cases where your cover order gets cancelled/rejected then you shall be given a link to Cancel your fresh order from Order Book.

Can I cancel the cover SLTP order?

No, cover SLTP order cannot be cancelled. However only in cases where your fresh order gets cancelled/rejected then you shall be given a link to Cancel your cover SLTP order from Order Book.

Can I modify the fresh order?

Yes, you can either modify Fresh order from Limit to Market or modify the Limit price of your fresh order from the order book. Please note that this modification will be available only if your fresh order is fully pending for execution or partially executed and cover order is fully pending for execution. You can modify fresh limit order to a market order.

If the Cover SLTP order gets rejected by Exchange, will I be able to re-enter the Cover SLTP Order?

Yes, you would be able to place Cover SLTP Order from the Open Positions screen where a link named 'Order' will appear if the same is rejected by Exchange. The Client agrees that ICICI Securities would not be liable for losses, if any, incurred on such position if Client does not re-enter a Cover Order. It shall be the responsibility of the client to monitor his/her positions and take adequate measures to safeguard himself against any such events. The link shall only appear when your fresh order is fully executed and cover is rejected.

Can I modify the cover SLTP order?

Yes, you can modify the price of your cover SLTP order subject to the Trigger price conditions being fulfilled.

You can even modify the cover SLTP order to a Market order using the "Market Square off" link on the MarginPLUS Positions page or "Modify" link but a prerequisite is that you will have to first cancel the cover profit order, if any and then the modify to market request will be accepted for square off.

Assume you take a buy position for the fresh order of 1000 shares at current market price of 100/-. Simultaneously, you also place the sell (cover SLTP order) of 1000 shares at Limit price 90/- and SLTP 95/-. The above trigger condition is defined with a view to curtail losses.

If subsequently the current market price shoots up to 110/-. You can modify the order as below Limit price 103/- SLTP 108/- or alternatively you can modify the order to market.

Can Cover SLTP Order be converted to a "Market Order"?

Yes. As mentioned above you can either modify your cover order to market after cancelling the cover profit order, if any or use the "Market Square off" link available on the MarginPLUS Positions page to square off your position at market price.

How does the 'Market Square Off' link help?

Market Square Off link is provided on MarginPLUS Positions page to assist customers to square off their position at market price. This link will enable customers with below two steps using a single screen:

1. Cancellation of cover profit order and
2. Modification of cover SLTP order to market

In the above two step case, what if I miss out proceeding with the second step and click any other trading link before completing the step 2?

It is required that the two steps are completed to square off your MarginPLUS position at market else only cancellation of cover profit order will take place and market square off will not happen. However, you can once again choose the 'Market Square off' link and if your cancellation is done then it will directly take you to Step 2 i.e. modify to market and on proceeding your cover SLTP order will be sent to exchange as market square off order.

Can I Cancel the Cover Profit Order?

Yes you can cancel the cover profit order anytime during the market hours.

Can I modify the Cover Profit Order?

Yes. The limit price of the cover profit order can be modified subject to the minimum difference % validations mentioned above.

Can Cover Profit Order be converted to a "Market Order"?

No. As mentioned above, you can choose to cancel the profit order and modify the SLTP order to market in case you wish to execute your cover order at market price.

What is the quantity that can be submitted for fresh orders?

1. Fresh limit order: The maximum quantity that can be submitted for fresh orders is generally maximum quantity allowed fot that particular stock. However I-Sec reserves the right to modify this permissible maximum quantity based on market conditions and risk factors.

2. Fresh Market order: The maximum quantity that can be submitted for fresh market orders is the total of best 5 Bid/offer quantities that is available in the best bids and offers. If the quantity that you input is greater than the quantity available in the best 5 bids and offers then the order will not go through.

Assuming that you want to place a buy order for 5000 shares @100, and the first 5 offer quantity available for the buy order are as under:

Offer Qty.	Offer Price
1500	98
1000	98.5
500	97
500	97.5
100	96

In the above scenario, the first 5 Offer quantity available is 3600 and since the buy order quantity placed is 5000 which exceeds the best 5 offer quantity, it would be rejected by the system. Similar would be the case in Sell order, wherein if the total sell qty is greater that the first 5 Bid quantities available then it would be rejected. The maximum order qty to be placed should be equal to the first 5 bid/offer quantity available at that point of time.

What will be the price at which margin for an order will be calculated?

For fresh market orders the price would be calculated as the weighted average price of the best 5 bids and offers available for calculating the margin requirement. If the following offers are available in the best 5 bids and offers and the client places a Buy order for quantity of 4500.

ACC

Best 5 bids		Best 5 offers
Qty.	Price	Qty.	Price
1500	5	1500	11
1500	5.5	1500	11.5
3000	8	3000	12.75
0	0	1500	13
0	0	0	0

Calculation of Buy price

Qty	Price	Value
1500	11	16,500
1500	11	16,500
1500	11.5	17,250
1500	12.75	19,125
4500	-	52,875

Weighted average price would be 11.75 = (52,875 / 4500) which would be used for calculating the margin requirement for this MarginPLUS order.

For fresh limit order, system shall take the fresh order limit price instead of weighted average price of the best 5 bids and offers for calculation of margin requirement.

What is the margin that is charged on placement of MarginPLUS order?

Margin in case of MarginPLUS product will be higher of two margins stated below:

1.Maximum possible loss that you may incur considering the difference between the Fresh & Cover order prices plus an addtional margin calculated as per MarginPLUS % specified, if any.

2. Margin computed as per the Margin% specified for the stock under this product.

You may visit the stock list page under Equity to view the prescribed margins for MarginPLUS product which is specified for each stock.

Formula:

Fresh Buy Market Order: Max[{(Weighted average price of fresh order - limit price of cover SLTP order) * Quantity} + {Weighted average price of fresh order * Quantity * Margin Plus %, if any, for the Stock}, {Weighted average price of fresh order * Quantity * Margin %}]

Please note, in case fresh sell market order the first part of the formula will change where loss will be computed as Limit price of cover SLTP order - Weighted average price of fresh order, rest of the formula will remain the same.

Fresh Buy Limit Order: Max[{(Limit price of fresh order - Limit price of cover SLTP order) * Quantity} + {Limit price of fresh order * Quantity * Margin Plus %, if any, for the stock}, {Limit price of fresh order * Quantity * Margin %}]

Please note, in case fresh sell limit order the first part of the formula will change where loss will be computed as Limit price of cover SLTP order – Limit Price if fresh order, rest of the formula will remain the same.

Margin is blocked as per the above formula on order placement and adjusted further based on the actual execution price.

Example 1 – Fresh Market Order:

Assume you take a buy position for the fresh order of 1000 shares at current market price of 100/-. Simultaneously you also place the Sell (cover SLTP order) of 1000 shares as Limit price 90/- SLTP 95/-.The Margin Plus percentage for the scrip is either 0 or 10%. The Margin% for the scrip is either 15% or 5%.

(A) In case the Margin Plus percentage is 0% and Margin % is 15%
Max{[((100-90)*1000) + (100*1000*0%)],(100*1000*15%)}
= 15,000/-

(B) In case the Margin Plus percentage is 10 and Margin % is 5%
Max{[((100-90)*1000) + (100*1000*10%)],(100*1000*5%)}
= 20,000/-

Example 2 – Fresh Limit Order:

In the above example if you place a fresh limit order at 99 the margin amount would be blocked as below :
(A) In case the MarginPLUS percentage is 0% and Margin % is 15%
Max{[((99-90)*1000) + (99*1000*0%)],(99*1000*15%)}
= 14,850/-

(B) In case the MarginPLUS percentage is 10% and Margin % is 5%
Max{[((99-90)*1000) + (99*1000*10%)],(99*1000*5%)}
= 18,900/-

Would the margin be recalculated at the time of modification?

Yes, it is recalculated and excess amount if any will be released or additional margin needed will be blocked if you change the limit price of your fresh order or cover SLTP order.

(A) In the above example of order at market price, where Margin Plus % is 10 and Margin % is 5% if you modify the SLTP to 97/- and limit price to 92/-.The margin amount would be recalculated as
Max{[((100-92)*1000) + (100*1000*10%)],(100*1000*5%)}
= 18000/-

The excess amount of 2000/- would be released and added in your limit.

(B) In the above example where Margin Plus % is 10% and Margin% is 5% if you modify the limit price of your cover SLTP order to 88/- margin amount would be recalculated as
Max{[((100-88)*1000) + (100*1000*10%)],(100*1000*5%)}
= 22000/-

Additional amount of 2000/- would be blocked. If limits are insufficient then you will be unable to modify the order.

(C) In the above example of order at limit price, where Margin Plus % is 0% and Margin % is 15% if you modify the limit price of your fresh limit order from Rs. 99/- to Rs. 101/- without modifying SLTP and cover order limit price, margin amount would be recalculated as
Max{[((101-90)*1000) + (101*1000*0%)],(101*1000*15%)}
= 15,150/-

Additional amount of 300/- would be blocked. If limits are insufficient then you will be unable to modify the order.

Would the Margin be recalculated when the order gets executed?

Yes, at the time of order placement at market price the weighted average price of bids/offers is considered and in case of limit order, limit price is considered for margin calculation. It may happen that execution happens at a different price than the one at which limits have been blocked.

Is the minimum difference % between SLTP and Limit price of Cover SLTP order different for different stocks?

Yes, I-Sec would define the difference minimum difference percentage for different stocks depending upon the volatility and market conditions of the scrip.

What is the difference between limit price and SLTP price that can be specified for a Cover SLTP Order?

Depending on the stock volatility and market situation, I-Sec Ltd would specify the minimum % difference between limit price and SLTP price of your cover SLTP order that can be maintained on order placement and modification for a particular stock. This percentage could be revised by I-Sec even during the day. Existing orders would be unaffected by the revision but however if the orders are modified the revised percentage would apply.

The value for limit price would automatically appear in the Limit Price field based on the minimum difference % for the stock between the Limit Price compared to the Stop Loss Trigger Price (SLTP). The auto-calculated limit price would be uneditable during order placement. However, during modification of Cover SLTP Order (2nd Leg Order) either from Order Book or MarginPLUS position page, limit price would be auto calculated and you can modify the limit price as per your preference.

Example: A 5% difference has to be maintained between the limit price and SLTP for cover SLTP order for ACC.

You have taken a buy position (fresh order) for 1000 shares in ACC at Current price of 100/-. You specify the sell order (Cover SLTP order) for 1000 shares in ACC at SLTP of 95/-. Since this is a sell cover SLTP order the limit price would be lower than the SLTP. Limit price in this case can be 90.25/- and below.

If any price between 90.25 and 95 is specified the order cannot be placed.

How does the concept of MarginPLUS work?

In case of Fresh Buy:

a) Current market Price rises – Position is making a profit You can choose to modify the sell cover SLTP order to a market order to immediately book profits at market price.

In case execution of your profit order is received first, then the SLTP order would be immediately cancelled by the system and system will then nearly in a minute's time cancel the remaining profit cover order quantity if full execution is not received and then place market order for the cancelled quantity.

b) Current market price falls - Position is making a loss: Once the current market price starts falling and reaches Sell cover SLTP price, the cover SLTP order would be triggered to a limit order. The cover SLTP order would get executed at the best prices available up to the SLTP limit price.

In case you have opted for a profit order, then on first execution of the cover SLTP order the cover Profit order would be immediately cancelled by the system and balance cover SLTP order will remain open for further execution.

In case of Fresh Sell:

a) Current market price rises- Position is making a loss: Once the current market price starts rising and reaches buy cover SLTP price, the cover SLTP order would be triggered to a limit order. The cover SLTP order would get executed at the best prices available up to the SLTP limit price.

In case you have opted for a profit order then on first execution of the cover SLTP order the cover Profit order would be immediately cancelled by the system and balance cover SLTP order will remain open for further execution.

b) Current market price falls- Position is making a profit: You can either modify your cover Profit order limit price or you can choose to modify the buy cover SLTP order to a market order to immediately book profits at market price.

In case first execution of your profit order is received first then the SLTP order would be immediately cancelled by the system and system will then nearly in a minute's time cancel the remaining profit cover order quantity if full execution is not received and then place market order for the cancelled quantity.

What happens to cover Stop Loss order if the cover Profit order gets executed first?

On receipt of the first execution of the cover Profit order, the cover SLTP order will be immediately cancelled by the system and system will then nearly in a minute's time cancel the remaining cover profit order if full execution is not received and then will place a fresh order at market price for the cancelled quantity.

Why does the system cancel my cover Profit order on part execution and place a fresh order at market price for balance quantity?

This is done to ensure that you get the best price execution nearest to your profit limit price available at the time your cover profit order was partly executed and don't loose out on the opportunity of booking profit if the exact profit limit price is not available at exchange end.

What happens to cover Profit order if the cover SLTP order gets executed first?

On receipt of the first execution of the cover SLTP order the cover Profit order will be immediately cancelled by the system and as the balance quantity subsequently gets a match the cover SLTP order will keep getting executed. You can also modify the balance SLTP or convert it to market to square off the position at your price. As mentioned above, you can choose to cancel the profit order and modify the SLTP order to market or use the "Market Square Off" link.

What happens to the open position remaining at the end of the day?

In case of MarginPLUS, all the positions created for the day are expected to be squared off by the customers before the market closes as this is an Intra day product. In case, if the positions still remains open at the end of day, I-Sec on best effort basis would initiate the Square off process at market price for all the open positions.

Will there be any Mark to Market process like in Margin trading?

No. Since the feature of MarginPLUS cover order is available which also indicates the maximum downside involved in a particular position, there is no need of mark to market process.

Can I do convert to delivery?

No. You do not have the option of convert to delivery in MarginPLUS.

Do I have the option of Add Margin?

No. The option of Add Margin is not available, since it is not relevant due to absence of Mark to Market process in MarginPLUS product.

Where do I view my open positions?

You can view your Open positions on the MarginPLUS Positions page of your www.icicidirect.com account.

Can I-Sec disable a scrip from MarginPLUS trading during the day?

Yes, I-Sec can disable a scrip from MarginPLUS trading during the day.

What will happen to the MarginPLUS orders that I have placed in such disabled scrip's?

You will be unable to place new orders in such scrip's. However, you can modify the orders already placed. To square off such positions you can cancel profit order, if any and modify cover SLTP order to a market order or use the "Market Square Off" link.

What would be the brokerage payable on these trades?

The Brokerage would be the normal brokerages that are charged for margin orders. You can refer the latest brokerage schedule on our website www.icicidirect.com on the path Customer service page > Important Information > Brokerage.

What is My EOS ?

My EOS is a facility provided to quickly close your open Margin PLUS orders / positions.

For eg.: If your Fresh order is executed and SLTP order is in ordered status and if you do My EOS confirmation message will be displayed stating that "Are you sure you want to close this position" and on clicking "Ok" system will modify your SLTP order to Market order.

In the above example if Fresh order is in ordered status and if you do My EOS confirmation message will be displayed stating that "Are you sure you want to close this position" and on clicking "Ok" system will cancel your Fresh and SLTP orders.

Will My EOS link be displayed against all the orders in order book.?

No. My EOS link will be displayed only against Margin PLUS fresh order(s) in order book irrespective of the status.

Will My EOS link be displayed against all the positions in MarginPLUS position page ?

Yes. My EOS link will be displayed against each open position on Margin PLUS position page under the "Square OFF at Market Price" column

Is there any difference if I do My EOS from Order book or Margin PLUS position page?

No. There is no difference if you do My EOS from order book or Margin PLUS position page.

Will My EOS link be displayed in order book for already closed positions?

Yes My EOS link will be displayed against all fresh orders irrespective of the status. However there will be no impact if you run My EOS for already closed positions.

Can I use Shares as Margin (SAM) limits for placing MarginPLUS Orders?

Yes. Shares as Margin (SAM) facility is available for MarginPlus. For more details, you can [click here] to refer FAQs on Shares as Margin (SAM).

What Limits are allowed for Placing MarginPLUS Order?

Cash and Shares as Margin (SAM) limits are allowed for MarginPLUS Order where SAM limits will be used first for blocking limits.

Can my MarginPLUS order(s)/position(s) get squared off by I-Sec for any reason?

Yes, your MarginPlus position may get squared off by I-Sec in case there is no other marginable product order(s)/position(s) and your 'Current Securities Limit' goes negative after utilizing cash limit and negative Current Securities Limit is above internal Threshold Limit set by I-Sec.

What happens if my Equity limit goes negative and in which situation does I-Sec square off my MaginPLUS positions?

In case of Negative 'Current Securities Limit after considering cash limit' and negative Current Securities Limit is above internal threshold limit set by I-Sec, I-Sec Will Cancel/Square off your MarginPLUS order(s)/position(s) only when you do not have other Marginable order(s)/position(s) like Margin intraday or MTF and the following steps will be followed to cover the limit negativity:

1. In case of Marginable Positions (other than MarginPlus) where SAM limit is used, Margin Intraday Order(s)/Position(s) will be considered first and then MTF

2. Pending MarginPLUS Order(s) i.e., Fresh and Cover order(s) will get cancelled.

3. Square off MarginPLUS Position(s) randomly one at time. I-Sec Will Square off Positon(s) till the negative Current Securities Limit comes below internal Threshold limit set by I-Sec.

For Example:

Internal Threshold Limit set by I-Sec is "-3000" and Negative Current Securities limit is "-10000" and following are the Orders and Positions created by the customer:

1.Buy Margin Position of 10 Qty of Reliance Industries at 2300 and the Margin Blocked is 3000.

2.Open MaginPLUS Order (Both Fresh and Cover order are pending for execution) of 10 Qty if TCS at 3550 and Margin Blocked for this order is 3550.

3.Buy MaginPLUS Position of 20 Qty of Deepak Nitrite Ltd at 2300 and Margin Blocked for this Scrip is 3760

4.Buy MaginPLUS Position of 20 Shares of Pidlite Industries at 2300 and Margin Blocked is 7000

Here in this Example the Current Securities Limit negativity is above threshold Limit so I-Sec Will Cancel and or Square off Positions in Following Manner till the Current Securities Limit is within the Threshold limit:

1. First I-Sec will place Square off Order for Long Margin Position of 10 Qty of Reliance Industries.

Therefore, 'Current Securities Limit' after square off will be "-7000"

2. Furthermore, still the Current Securities Limit is Negative then I-Sec Will Cancel one by one MaginPLUS Open Orders. Hence open MarginPlus order of 10 Qty of TCS will be cancelled and its blocked margin will be released.

Now after cancelling the above order Revised Current Securities Limit will be: "-3450"

3. Since there is no other pending order in this case to cancel hence process moves to one by one square off on random basis as still the negative limit is more than threshold limit, now I-Sec will square off MaginPLUS orders one by one randomly such that 'Current Securities Limit' is within the threshold limit.

Hence I-Sec Will square off 20 Qty of Deepak Nitrite Ltd Position as required to reduce the Negative 'Current Securities Limit' which will release margin of 3760.

Now after square off the above position Revised Current Securities Limit will be "310".

1. What is Good till Trigger (GTT)?

A Good till Triggered (henceforth referred to as 'GTT') is the trigger-based order placement feature which allows you to place buy or sell orders in stocks of your choice at your specified price which will remain active until the trigger condition is met or the GTT request is cancelled / expired. The maximum validity date for which the GTT trigger will be valid, is 365 days after which it will get expired. It is particularly useful for traders who can't actively monitor the market throughout the day.

2. How does GTT feature work?

You can set a trigger price and a limit price for a GTT request. When the last traded price (LTP) breaches the specified trigger price, limit order will be placed with the exchange at the specified quantity and price. The GTT requests will be valid till triggered/cancelled/expired, whichever is earlier. The GTT request placed by you will be with ICICI Securities Limited (henceforth referred to as 'I-Sec') in GTT Book and limit order will be sent to exchange only when the trigger condition is met.

3. Can all customers of I-Sec avail GTT facility?

Yes, all online existing and new customers of I-Sec who are eligible to trade in Equity Cash product can avail GTT facility.

4. Is GTT feature available for all products?

No. The facility of placing GTT request is available only for Cash Products only under the Equity segment. Please note you cannot place GTT requests in any other products under Equity like Margin Broker Mode, Margin Client Mode, Margin Plus etc.

5. Can I place Buy and Sell orders with GTT request validity?

Yes, GTT request are available for both your Buy as well as Sell orders in Cash product only.

6. Can I place GTT request in any stock and exchange?

GTT request can only be placed in particular Stock Exchange combination if it is allowed for placing GTT Requests as per I-Sec Risk Management System (henceforth referred to as 'RMS'). Please visit the Equity "Stock List" page under Services tab in Stocks Section. On clicking the stock name, GTT Allowed Y/ N field will be available to view whether the selected Stock Exchange combination is allowed for GTT facility or not. However, I-Sec RMS can disable any of the stocks for placing GTT requests at its discretion.

7. Do I need to allocate funds for placing GTT request?

No, you don't need to allocate funds while placing GTT request. However, you will have to ensure that sufficient limits are available in Equity segment when your GTT request is triggered, to meet requisite limit required for the order.

8. What will be the validity of GTT request?

GTT request will be valid till it is triggered, cancelled or till expiry of validity, whichever is earlier. The maximum validity of a GTT is 365 days, after which it will get expired. Please note in case the triggered order remains open/ unexecuted for the day then the order expires and the GTT request will no longer be valid. In such cases you may want to place your GTT request again.

9. What is Trigger price and Limit price in GTT request?

Trigger price is the price at which your request will get triggered for sending order to exchange & limit price is the price at which your order will get placed at exchange.

10. What are different types of GTT requests?

There are below types of GTT requests–

1. Buy Single
2. Sell Single
3. Sell OCO (One Cancels Other)
4. Cover Sell Single
5. Cover Sell OCO (One Cancels Other)

11. What is Single trigger type in GTT?

Single trigger type GTT request is where you can set a single trigger price, which can be greater than / lower than the LTP, once the LTP crosses your trigger price, order will be placed with the exchanges at your predetermined limit price.

Example1: Say, LTP of a stock is Rs. 100 and you set the trigger price at Rs. 90 and the limit price at Rs. 89, then once the LTP trades below Rs. 90, your GTT request will be triggered and an order will be placed with the exchange at Rs. 89.

Example2: Say, LTP of a stock is Rs. 100 and you set the trigger price at Rs. 110 and the limit price at Rs. 111, then once the LTP trades above Rs. 110, your GTT request will be triggered and an order will be placed with the exchange at Rs. 111.

12. What is OCO request type in GTT?

In Sell OCO or Cover Sell OCO type GTT requests, both 'Stoploss' and 'Target' trigger price conditions can be set simultaneously. When either of the trigger price condition is fulfilled, then the other one which is not triggered will get immediately cancelled.

Example: LTP of a stock is Rs. 100 and you place a OCO GTT request with the Stoploss Trigger price at Rs. 90 and Stoploss Limit price at Rs. 89 and Target Trigger price at Rs 110 and Target Limit price at Rs. 111. Now if the LTP trades below Rs. 90, then the stop loss condition is met so, Target price condition will get cancelled immediately and stoploss order will be sent to the exchange at Rs. 89.

13. What is Cover request type in GTT?

Cover GTT request can be placed along with the fresh order from the existing order placement page.

Example: Currently, a stock is trading at LTP of Rs. 101 and You are placing buy order for a stock at a Limit Price of Rs 100. Along with the same order, you place cover GTT request with Stoploss Trigger price of Rs. 90, Stoploss Limit price of Rs. 89, Target Trigger price of Rs. 110 and Target Limit price of Rs. 111. Once Buy order of Rs. 100 is fully executed, cover GTT request will become Active and until then it will remain Inactive. Now, after GTT request becomes Active, if the LTP reaches on or below Rs. 90, then the stop loss condition is met so, Target price condition will get cancelled immediately and stoploss order will be sent to the exchange for execution at Rs. 89.

14. Where can I place GTT request?

You can place GTT request from the following pages as mentioned below:

1. "GTT" page in "Place Order" tab: GTT Buy as well as GTT Sell requests.
2. "Delivery Page" in "Place Order" Tab: Sell GTT Request along with Normal Fresh Buy order of Day Validity.
3. "Demat Holding" page: GTT Sell requests.
4. "Get Quotes" page: GTT Buy as well as Sell requests.

15. Can I modify GTT request?

Yes, you can modify trigger prices (Stop Loss/ Target) or limit price as well as quantity for your GTT request from the GTT book as long as it is not triggered. Please note that you will be able to modify the request only when the trigger is in 'Active status'.
On modifying the fresh buy order in case of GTT Sell request with Fresh Buy, if you desire to modify Cover GTT request then you will need to do it separately.

16. Can I place only Target or only Stoploss or both Target and Stoploss request in GTT?

Yes.
In case of Cover OCO GTT trigger type, you can choose to place only Stoploss or only Target or simultaneously both.
In case of OCO GTT, simultaneously both Stoploss and Target trigger price will need to be set.
In case of Single GTT, only Stoploss or only Target can be placed i.e., only one trigger price can be set which can either be above or below the LTP.
Please note all GTT orders will be sent as limit price orders wherein the limit price by default will be same as trigger price but you can choose to change limit price which can be different from trigger price.

17. How do I see my GTT Requests?

To view the GTT requests, you can visit the 'GTT' section of the Order Book page. It gives you details of GTT request such as Stock for which GTT request was placed, Date & Time of GTT request placement, Buy/Sell position, LTP, Trigger Price, Limit Price, Qty, Current Status of GTT request and Action Buy to Modify/Cancel/Reorder the GTT request.
The Log will be displayed on clicking the GTT order reference hyperlink of your respective GTT request. The Remarks column in the order log will also display the GTT request rejection remarks, if any.

18. Where can I view the details of GTT orders which is placed with the exchange post triggering?

You can view the details of GTT orders placed post triggering of GTT request in your account under the normal Equity order book. A separate identifier will be displayed stating that "This is a system placed GTT Order" below the Order Reference No.

19. What are the various statuses in GTT book against GTT request?

The statuses against your GTT request in GTT book are:

1. Inactive- The status of GTT request is 'Inactive' in case of your Cover GTT request if your Fresh Buy order is not fully executed yet. Until GTT request is Inactive, it will not get triggered even if trigger price condition is fulfilled.
2. Active- The Status of GTT request is 'Active' in case of Single or OCO GTT request is placed. And for Cover GTT request when your fresh order is fully executed status of GTT becomes Active from Inactive.
3. Triggered- The status of GTT request is 'Triggered' in case of:
   1. Single GTT request when Trigger price condition is fulfilled.
   2. OCO GTT request when either of the Trigger price conditions i.e., Stoploss or Target is fulfilled.
      Triggered status of GTT request reflects the status of only GTT Trigger condition i.e. GTT trigger condition has been fulfilled so, it may happen that the order which was supposed to get sent on triggering is rejected due to various valid reasons. Hence, ensure checking 'Normal Order Book' and 'GTT Order Reference Number logs' for more details of such order." Also, as trigger is valid only once, same GTT request won't get triggered again.
4. Cancelled- The Status is cancelled against your GTT request if the request is cancelled by the customer or if the request is cancelled by the I-Sec RMS in scenarios such as corporate action of that stock, etc.¬¬
5. Expired - The status of GTT request is 'Expired' if the GTT trigger conditions are not met within the GTT validity period and the GTT request is no longer valid.

20. Why did my GTT request got triggered and no corresponding cash order was placed?

There could be various reasons for your GTT request being 'Triggered' and no corresponding cash order was placed they are as follows:

1. Insufficient funds in Equity segment during triggering of GTT request
2. Insufficient holdings in Equity Demat account during triggering of GTT sell request
3. The limit price is outside the price range for that day.
4. Particular stock is not allowed for Trading for that day
5. Due to Trading Validations as defined by I-Sec RMS, Refer "Trading Validations in Equity" for detailed validations.
6. If the no mandate available against the GTT sell order for a e-DIS account.
7. On trigger if the order does not meet the existing risk management checks applicable for 'Order placement' like; quantity, price, cumulative value checks etc.

21. Why did my GTT request get cancelled?

There could be various reasons for your GTT request being seen as 'Cancelled' and they are as follows:

1. You may have cancelled your GTT request from the GTT book.
2. In case of Fresh Buy with GTT Sell, if your fresh order is cancelled by you or rejected by exchange or if position quantity is less than the cover GTT quantity.
3. In case of any Corporate Action in the underlying where you have GTT request.
4. In any exceptional adverse scenario due to which I-Sec RMS requires to cancel the open GTT requests.

22. Why is there an error in placing in GTT request?

The GTT request will not be placed if the trigger conditions are not entered correctly and validation error will be displayed in the following cases while placing GTT requests:

1. The GTT trigger should be at least x% or y rupees away from the LTP.
2. If the Stoploss Trigger is entered above the LTP.
3. If the Target Trigger is entered below the LTP.
4. If the Stoploss limit price is entered more than z% away from the Stoploss Trigger Price.
5. If the Target limit price is entered more than z% away from the Target Trigger Price.

23. What will happen in case there is a corporate action happening in the stock in which I have placed GTT request?

If a corporate action is announced in particular stock then such stock will be disabled by I-Sec RMS for GTT request placement from Ex date - 1 day till Record date. If your GTT request in such stock is still Active / Inactive then your GTT request in such stocks will get cancelled during this period and orders will not be placed on subsequent days post cancellation. This is to safeguard your interest and avoid placement of orders at unrealistic prices due to the impact of corporate action. You are thereby requested to login into your account to see the status of GTT requests in such stocks and place fresh GTT requests again at appropriate prices in case you wish to continue with placement GTT request in such stocks after corporate action has been completed.

24. Can I place GTT request for Sell against an Demat Holding?

Yes, customer can place GTT Sell Single as well as OCO request from Demat Holding page by clicking on GTT Sell link.

25. What if the trigger conditions are met for GTT request but the holding is sold or there is existing sell order pending?

If the stock quantity available to sell is insufficient due to any reason such as another sell order is placed or executed, or insufficient Demat Holding etc., when the GTT request is triggered then no sell order will be placed. You will be able to view the updated remarks against such request in GTT book on clicking GTT Order Reference No.

26. What will happen to pending Sell GTT requests if you have already placed normal sell order from Demat Holding page and holding is squared off and now you have again created holding in same stock?

When pending GTT Sell request is triggered, system will check whether the stock quantity available to sell is sufficient or not and if it is sufficient the GTT Sell order will be sent to the exchange against the recreated position in the same stock.

27. Is there any additional charge or difference in the brokerage rate for normal Cash transactions and GTT orders?

No. There are no additional charges for placing GTT request also there is no change in the brokerage rates for your normal Cash transactions and GTT orders. The Brokerage rates and applicable charges are same for your normal Cash transactions and GTT orders.

28. How will GTT orders be settled?

The settlement for your GTT orders would be done in the same manner as normal cash transactions.

29. Can I place GTT requests through CallNTrade?

Yes. You can place your GTT requests through CallNTrade.

30. Is there any restriction on the number of GTT requests which can be placed?

You can place multiple GTT request in a day. Also, GTT requests can be placed in different stocks as well. However anytime Active and Inactive GTT requests should not exceed 100 requests in one account which may get updated by I-Sec RMS time to time.

31. Can I place GTT requests at any time during the day?

Yes. You can place GTT request at any time during market hours and even post market hours when the site is open for placing overnight orders.
However the orders will be only triggered only during market hours i.e during 09:15 am – 03:30pm.

32. Can I place GTT request being an e-DIS customer?

e-DIS customers can place GTT request but please note that you will need to take mandate for your Demat holdings against which there are Sell GTT request. Otherwise Sell GTT request triggered for your holdings will get rejected as you need to authorise delivery of stocks using M-PIN. This is not applicable in case of POA and DDPI customers.

33. How to ensure fast execution of Cash order placed due to triggering of GTT?

Entering the limit price of the trigger above the trigger price in case of GTT Buy and below the trigger price in case of GTT Sell may increase the chances of execution.

34. If my Fresh Buy Order does not get executed or only partially executed during the day, what will happen to the corresponding cover GTT placed along with this Fresh Buy order?

If your Fresh buy order does not get fully executed then at the End Of the Day, the inactive cover GTT request will get automatically cancelled since for Cover Sell GTT to be Active, Fresh Buy order requires full execution. You will have to place a fresh GTT or reorder the GTT placed earlier.

35. Why is the GTT not triggered even though the trigger conditions are met?

A GTT is triggered when the stock price breaches the trigger price and based on the ticks captured by the system. Due to high volume of transactions per second on the exchange, due to any circumstances, if the tick isn't captured, the GTT may not trigger and can remain pending until the stock price reaches the trigger price again. So, Trigger or Sending order after successful Trigger or Execution of orders after the trigger are not guaranteed for GTT.

1. What is trade analysis and why is it required?

"Trade Analysis" is a Post Trade Tool available on our website for intraday traders to analyze their trade's compared to various price points of a stock/contract during the trading time frame on a particular trade date. Reviewing trades by professional traders is critical part of post-trade and allows traders to take the screenshot of the stock/contract chart after the trade is completed, plots Buy and Sell points, recapping the trade and tweaking the trade rules for the future with the learnings of every position taken and exited on a trade date.

2. Can I analyze my trades in all products?

With "Trade Analysis" you can now analyze your trades done in MarginPLUS, FuturePLUS Stop Loss and OptionPLUS products.

3. From where can I use this Trade Analysis feature on the site?

Please visit the Trade Book, under Action column a link named "Trade Analysis" will be available against the same day's trade only under the action Buy/Sell.

4. Is this available for all trade dates?

This link is available only on the same day against trades done on that date and is not available for previous trade dates.

5. Can this feature be used any time during the same trading day?

No. This feature being a post trade tool can be used only after market hours and for the same trade date.

6. How to use the Trade Analysis?

Trade Analysis can be used to analyze the impact on the closed positions Profit/Loss by choosing a base for comparison i.e. Fresh trade or Cover Trade. In case you choose Fresh as base to analyze then the chart will freeze the entry price point as per your trade price and help analyze the impact on your Profit/Loss by changing the exit price points on the chart just by moving the mouse anywhere during the time frame and you can view the possibility of making Profits assuming you had exited at that time and price point available on that trading date. Similarly, you can choose to keep Cover Trade as base in that case the chart will freeze the exit price as your Cover trade price and just by moving the mouse you can see the impact had your entry price point been different as per the available price ticks on the same trade date.

7. What are the benefits of using Trade Analysis?

The Trade Analysis feature helps traders in easily plotting on the chart and knowing the possibility of making Profits or curtailing Losses on their closed position during the day had the trader chosen a different entry or exit price point available at a different time during the trading session. Also to support their analysis, key market data like Open, Close, High and Low Prices related to their position in that stock/contract is all made available on the same screen along with the intraday price chart.

8. Can customer compare any side of the trade, Fresh or Cover, to see the P/L he could have made on his position on that day?

Yes. Customer can compare any side of the trade Fresh or Cover to see the Profit/Loss he could have made on his position on that day by selecting the Fresh or Cover options available on charts.

9. Can Trade analysis be done for Buy and Sell trades?

Yes. Trade analysis can be done for Buy as well Sell trades.

10. Does the Profit/Loss displayed under Trade analysis consider Brokerage and other charges ?

No. Profit/Loss displayed under Trade analysis does not consider Brokerage and other charges. Trade analysis is purely based on your Trade price.

11. What can be viewed for a trade with Trade Analysis - Only Profits, Only Losses or Both?

Both Profit as well as Loss at different price points can be viewed for the trades with Trade Analysis

What is a Cloud Order?

Cloud Order is a feature for placing quick orders in Cash, eATM, Margin and MarginPLUS products. Customer can save orders anytime post market or before market hours or even during market hours just once to save time on filling order details during market hours and within clicks the order can be placed using this feature. Customer can place order by clicking Buy/Sell link available against each order saved on Cloud Order page under Equity. This feature will save customer's time and he need not enter all the order details each and every time he places an order.

In which products can I place Cloud Order?

Presently under Equity segment, you can save and place Cloud Orders in Cash, eATM, Margin and MarginPLUS products.

How can I add a Cloud Order?

You can click 'Add to My Cloud' button available on Cloud Order page under Equity. This will open a page Add to My Cloud where you can enter and save the order details like Exchange Code, Stock Code, Quantity, Order Type and Limit Price(for Cash/eATM/Margin products) and Cover SLTP Difference(for MarginPLUS)
You can also add Cloud Orders from Place order page, where you can click on 'Get From My Cloud' or 'Add to My Cloud' buttons if there is no existing order saved to Cloud for the selected stock. If you have an order already saved to Cloud Orders in the selected stock then you will be taken to Cloud Order page from where you can Buy/Sell and place your order during market hours or as an overnight order.

At what time can I add a Cloud Order?

You can add a Cloud Order anytime during market hours as well as before or after market hours.

What is Cover SLTP Difference?

Cover Stop Loss Trigger Price Difference is the price difference amount between LTP/Limit Price of Fresh order and SLTP of your cover order in MarginPLUSproduct. You can choose any difference amount upto two decimals and this difference would be used to calculate the SLTP of your cover order and existing functionality for SLTP would continue. This difference value is required for Cloud Order placement under MarginPLUSproduct.

• 1. Fresh Market Order - In case of Fresh Market order your cover order's SLTP would be calculated considering the Cover SLTP Difference defined by you for the saved Cloud Order and it would be calculated as a difference from LTP i.e. reduced from LTP in case of Fresh Buy order under these products and added to LTP in case of Fresh Sell order.
   
  • Fresh Market Buy order: Cover SLTP = LTP - Cover SLTP Difference
  • Fresh Market Sell order: Cover SLTP = LTP + Cover SLTP Difference

Note: LTP considered in case of Fresh market order would be the latest LTP prevailing at the time of order placement. SLTP would be calculated based on this LTP.
 
• 2. Fresh Limit Order - In case of Fresh Limit order your cover order's SLTP would be calculated considering the Cover SLTP Difference defined by you for the saved Cloud Order but the difference would be calculated from Limit Price entered by you instead of the LTP.
   
  • . Fresh Limit Price Buy order:
    Cover order's SLTP = Limit Price of Fresh Order - Cover SLTP Difference
  • Fresh Limit Price Sell order:
    Cover order's SLTP = Limit Price of Fresh Order + Cover SLTP Difference

• For Fresh Market order: You want to save the Cloud Order in your desired stock with the Cover SLTP difference say of Re. 0.50. In this case when you choose Buy/Sell links from Cloud Order page, say the LTP of RELIND is 980.75 then the Cover order's SLTP will be calculated as per your defined Cover SLTP Difference as follows:
  In case of Fresh Buy: 980.75 - 0.5 = 980.25
  In case of Fresh Sell: 980.75 + 0.5 = 981.25


• For Fresh Limit Order: In the above example with cover SLTP Difference say of Re. 0.75 and the Limit Price of fresh order entered by you is 980.50 then the Cover order's SLTP will be calculated as per your defined Cover SLTP Difference as follows:
  In case of Fresh Buy: 980.50 - 0.75 = 979.75
  In case of Fresh Sell: 980.50 + 0.75 = 981.25

How can I place a Cloud Order?

You can click 'Buy/Sell' link against your saved Cloud Order to proceed placing orders. This will open order placement page with all pre populated order details saved by you under Cloud Order and you just need to submit the order.

Alternatively, on order placement page there is a button named as 'Get From My Cloud' which is available besides the Stock Code. If you have an order already saved to Cloud Orders in the selected stock then you will be taken to Cloud Order page from where you can Buy/Sell and place your order during market hours. In case you do not have an order saved to cloud in the selected stock then you will be required to "Add to Cloud order" where you can save this stock with the required order details for regular future use for quick order placements where all order details will then be pre-populated through this one time effort of saving to cloud. You can also have multiple orders saved in the same stock and place order against the desired order details saved to cloud.

Which order details are required to be entered at the time of saving a Cloud Order?

You are required to select Exchange, Square off mode in case of Margin (Broker or Client), enter Stock Code, Quantity, Order Type, and Limit Price in case of Cash, eATM, Margin and Cover SLTP Difference in case of MarginPLUS.

Can I modify Cloud Order details previously saved? If yes, which order details will I be able to modify?

Yes, you can modify a saved Cloud Order details like Exchange, Quantity, Order Type and Limit Price/Cover SLTP Difference anytime irrespective of market open or closed by clicking "Modify" link available on Cloud Order page against each Cloud Order saved. Please note you cannot modify Stock Code for a saved Cloud Order. If you wish to change the same then you will have to add another Cloud Order.

Can I delete a Cloud Order(s)? If yes, can I delete only one Cloud Order or even multiple Cloud Orders can be deleted?

Yes, you can delete your saved Cloud Order(s), single or multiple. For deleting Cloud Order(s) you will have to tick the checkbox given under 'Delete' column against each Cloud Order required to be deleted and then click "Delete Button" available at the end of Cloud Order page. In this way you will be able to delete Single or Multiple Cloud Orders at a time.

Can I add multiple Cloud Orders in the same stock?

Yes, you can add multiple Cloud Orders in the same stock. You can save different order details (like Square-off mode for Margin product, Quantity, Order Type and Limit Price/Cover SLTP Difference) under the same stock. Please ensure to keep one of the order details different than the previously saved orders in the same stock. However, it is advisable to have fewer Cloud Orders in same stock to avoid errors at the time of order selection and placement due to similar multiple orders.

Can I add a Cloud Order if a stock is disabled for trading?

No, you cannot add a Cloud Order if a stock is disabled.

Can I place a Cloud order i.e. Buy/Sell in a stock which gets disabled after I had added to Cloud order page?

No, you will not be able to place a Cloud Order in a stock which gets disabled after you had added it to your Cloud Order page. You will be able to proceed with the Buy/Sell links through Cloud order page with pre-populated details but on proceeding you will get an error if stock is disabled. Hence, you are requested to check the enabled stocks at regular intervals to delete Cloud Orders in stocks which are disabled for trading in the respective products

What is assessment year?

It is the twelve-month period 1st April to 31st March immediately following the previous year [the financial year in which the income was earned]. In the Assessment year a person files his return for the income earned in the previous year. For example for Financial Year 2009-10 the Assessment Year is 2010-11.

What is previous year?

It is the financial year immediately preceding the assessment year. In other words, the year for which the income is taxed is called the previous year. Year constitutes a period starting 1st April of a particular year and ending 31st March the next year. April 1, 2009 to March 31, 2010 would constitute a previous year. Income earned during this period will be subject to tax in the assessment year 2010-2011.

What is the nature of income under which transaction in securities will be taxed?



Budget 2018 proposes to levy Tax on Long Term Capital Gain only on Equity Shares and Units of Equity Oriented Mutual Funds. However, LTCG up to Rs.1 lakh in a financial year shall be exempt.

In case these securities are held as stock-in-trade i.e. if you are in the business of buying and selling securities, the profit and loss from purchase and sale of securities will be taxed under the head "Profits or gains of business or profession".



What is capital gain/loss?

Any profit or gain arising from sale or transfer of a Capital Asset is chargeable to tax under the head ''Capital Gains''. The income under this head is deemed to be the income of the year in which the transfer takes place.

Capital gains are chargeable to tax on accrual basis whether the consideration is received or not, especially in the case of gains from sale of shares and securities.

What is a capital asset?

Capital Asset means all movable or immovable property except trading goods, personal effects, agricultural land other than within municipal areas or within 8 kilometers from it wherever notified and gold bonds. Jewelry and ornament are not personal effects and their sale will attract capital gains.

What is a short term asset / long term capital asset?

Capital assets are classified as Long Term or Short Term with reference to the period of holding of the assets till it is transferred. The classification is made on the following basis:-

Nature of Asset	Short Term Capital Asset	Long Term Capital Asset
(i) Shares in a company or any other security listed in a recognized stock exchange in India or a unit of a Unit Trust of India or a unit of a mutual fund specified under section 10(23D).	Held for not more than 12 months.	Held for more than 12 months.
(ii) Assets other than assets mentioned in (i) above.	Held for not more than 36 months.	Held for more than 36 months.

To illustrate, if you have purchased and sold shares on the following dates, they would be treated as short term or long term capital asset as below.

Date of Purchase	Date of Sale	Period of Holding	Type of Asset
April 1, 2001	August 3, 2001	4 months and 2 days	Short term Asset
April 1, 2001	October 31, 2001	7 months	Short term Asset
May 11, 2000	October 31, 2001	17 months	Long term Asset
February 14,1999	June 18, 2002	2years 4 months	Long term Asset

The period of holding for the above purpose could be different from the actual period of holding in certain situations:

• In case the shares or securities are held in a company in liquidation, the period subsequent to the date on which the company goes into liquidation shall be excluded.
• In case the shares or securities have been acquired as gift or under will, the period of holding shall include the period for which the asset was held by the previous owner.
• In case the shares or securities held in an amalgamating company, the period of holding will include the period for which the shares have been held by the assesse in the amalgamating company.
• In case of shares subscribed to by the person to whom such a right issue is offered or who has acquired the right from another person, the period of holding of the shares for the first person shall be reckoned from the date of allotment of such shares.
• In case a person has renounced his right to subscribe to certain shares in favour of another person, then the period of holding of such rights for the first person shall be reckoned from the date of offer of such right by the company or institution.
• In case of shares or securities have been acquired as a bonus issue, then the period of holding these bonus shares shall be reckoned from the date of allotment of such shares.

Amounts in
Sale consideration	5000*165	825000
Less Cost of purchase	5000*155	775000
Short term capital gains		50000

Amounts in
Sale consideration	1500*251	376500
Less Cost of purchase	1500*165	247500
Short term capital gains		129000

Amounts in
Sale consideration	1500*251	376500
Less Cost of purchase	1500*165=247500*406/331	247500
Short term capital gains		129000

1. Long Term Holding would not attract any tax if sold on or before March 31, 2018
2. Cost of Acquisition of Equity share would be considered to be higher of the actual cost or the Fair Market Value of it as on January 31, 2018.
3. However, to avoid an arbitrary loss situation, if the Actual Sale Consideration is lower than the Fair Market Value as on January 31, 2018, the Cost of Acquisition would be either the Actual Sale Price or Actual Cost, whichever is higher.

Reports and Statements available to get history of transactions that would help you in filling Income Tax return?

The following statements and reports are available for ICICI Direct Customers.

A. Equity: 

1.Statements: The statements can be downloaded from Customer Service Page under Link " Statements --- > Transaction statement and Select market Type as Equity" after due authentication with the user ID and password.
2.Contract Notes: The individual contract notes can be downloaded from Customer Service Page under Link " Statement --- > Digital Contract Notes and Select market Type as Equity" after due authentication with the user ID and password.
3.Transactions in Excel Sheet: The Transaction done in a financial year can be Exported to Excel. Select the period  from 01st April to 31st March in the Trade Book. For ex: If you wish to have all the transactions from April 06 to March 07, Select " Date From" as 01/04/2006 and "Date To" as 31/03/2007 and click on "Export to Excel". All the trades for the financial year would be transported in an excel sheet. Thereafter sort these sheet in Ascending order first based on "Stock" then by "Action" for you to compute the Profit / loss.
4.Intraday Equity Transactions in Excel Sheet: Margin and Margin Plus orders are called Intraday Transactions. To compute Profit / Loss incurred due to trades in Margin / Margin Plus, Select the period  from 01st April to 31st March in the Trade Book and select the Product as Margin or Margin Plus. For ex: If you wish to have all the transactions from April 06 to March 07, Select " Date From" as 01/04/2006 and "Date To" as 31/03/2007, select product as Margin and click on "Export to Excel". All the trades for the financial year would be transported in an excel sheet. Thereafter sort these sheet in Ascending order first based on "Stock" then by "Action" for you to compute the Profit / loss.
5.Demat Holdings: You can request for the Demat statement by writing to dematservices@icicibank.com or by visiting any of the nearest ICICI Bank Branch. You may register your Demat account for Internet Banking facility. To more details please contact our Customer Care
6.Demat Holdings as on 31st March: This can be requested as per the process as mentioned above under Point 5.

B. F&O:

1.Statements: The statements can be downloaded from Customer Service Page under Link " Statements --- > Transaction statement --- > Select market Type as Derivatives" after due authentication with the user ID and password.
2.Contract Notes: The individual contract notes can be downloaded from Customer Service Page under Link " Statement --- > Digital Contract Notes and Select market Type as Derivative " after due authentication with the user ID and password.
3.Portfolio Details: Under this link select the financial year and the Product type. This would provide you the Trades done in the selected period and the Realized Profit / loss. Please note that the Portfolio details would not have the Brokerage and other charges included in your Realized Profit / loss.

C. Mutual Funds:

1.Statements: The Mutual fund statement can be requested by contacting our customer care or writing to helpdesk@icicidirect.com
2.Transactions in Excel Sheet:  Select the period  from 01st April to 31st March in the order book and copy all the trades to an Excel sheet. For ex: If you wish to have all the transactions from April 06 to March 07, Select " Date From" as 01/04/2006 and "Date To" as 31/03/2007. Copy all these trades in an Excel Sheet. Thereafter these trades can be sorted in Ascending order through "Scheme Name", then by "Transaction Type" for you to compute the total purchase and redemption order made in that particular scheme. Please note that " P-Purchase, R-Redemption, SI-Switch In (Purchase), SO-Switch Out (Redemption), DR-Dividend Re-investment, TI - Transfer In request (Purchase. Original price needs to be computed by you as per your investment amount)
3.Cash Flow in Excel Sheet: To check the investment made in Mutual Fund  Select the period  from 01st April to 31st March in the Cash Flow link and copy all the Cash flow to an Excel sheet. For ex: If you wish to have all the transactions from April 06 to March 07, Select " Date From" as 01/04/2006 and "Date To" as 31/03/2007. Thereafter these trades can be sorted in Ascending order through "Scheme ", then by "Type" for you to compute the total purchase and redemption order made in that particular scheme.

What is a Book closure/Record date?

The registered shareholders of the company are entitled to corporate benefits such as dividend, bonus, rights etc. announced by the company from time to time. Since, the ownership of shares of companies traded on the stock exchange is freely transferable and to enable the company to know the persons entitled to the benefits, all transfers of securities have to be registered with the company (this is required in case of transfer of shares in physical form). Since transfer of securities is a continuous process open any time, the company announces cut off dates from time to time and members on the register of shareholders as of these cut off dates are entitled to the benefits. Such cut-off dates are record dates. Alternatively, the company might choose the close the register of shareholders for registration of transfer during a specified period. All transfer requests received before the commencement of the book closure or on or before the record date are considered for the purpose of transfer. A Company cannot close its books for more than 30 days at stretch for a book closure, and not more 45 days in a year. The period between two Book Closure cannot be less than 90 days.

What is the difference between book-closure and record-date?

ACC announced a Book Closure (BC) for the period 6th July to 30th July'96. During this period, the company had closed its register of security holders. This was done to determine the number of registered members who were eligible for the Bonus 3:5 and a dividend of 40%. The process of transfer of shares was operational till 5th July'96. The company announced a No Delivery period from 12th June to 9th July'96 before the Book Closure. During this period, trading was permitted in the securities but the trades were settled only after 9th July. Hence, the buyers of the shares were not be eligible for the Bonus 3:5 and a 40% dividend. The first day of the No Delivery period is considered as an Ex - Date since the buyer of the shares is not eligible for the corporate benefits for this BC.

The same logic holds good for Record date, but the two main differences are that : In case of a record date, the company does not close its register of security holders. Record date is a cut off date ( in the above example '5th july96) for determining the number of registered members who are eligible for the corporate benefits [Interim dividend (30%) ].

What is a 'No Delivery' period?

Whenever, a book closure or a record date is announced by a company, the exchange sets up a 'No Delivery' period for that security. During this period, trading is permitted in the security. However, these trades are settled only after the No-Delivery period is over. The start of No-Delivery period is the ex-date of the settlement.The settlement is clubbed with the settlement of the week whose pay-out date falls just after the end of the no-delivery period. This is done to ensure that investor's entitlement for the corporate benefits is clearly determined. No-delivery period generally extends to all weekly cycles touched from 15 days prior to the record date and 4 days subsequent to the record date (both inclusive).

What is an ex-date?

The first day of the 'No Delivery' period is the ex-date viz., if there is any corporate benefit such as rights, bonus, dividend etc. announced for which book closure/record date is fixed, the buyer of the shares on or after the ex-date will not be eligible for the benefits while the seller would be eligible for the same.

What happens if I hold (Non Pari Passu) NPP shares ?

The ordinary and NPP shares of the company thus carry disproportionate rights as to dividend, although their market price remains the same. To compensate, the buyer to whom these new shares are delivered, for loss of pro rata dividend, the NPP benefit is passed on to the buyer of these NPP shares. Thus if you sell of NPP shares you will have to pay, the dividend declared in respect of ordinary shares and this NPP amount shall be deducted from the sale price. This old-new compensatory value(ONCV) is referred to as 'new share dividend'. Alternatively if you buy shares and you get delivery of NPP shares, the ONCV will be received by you.

How does one ascertain that the dividend received/paid on a certain scrip is correct?

The Exchange publishes a list of the scrips that are eligible to receive pro-rata dividend (non pari-passu) per settlement. The list contains the details pertaining to the distinctive nos. and the rate of dividend payable.

What is KYC?

KYC is an acronym for "Know your Client", a term commonly used for Client Identification Process. SEBI has prescribed certain requirements relating to KYC norms for Financial Institutions and Financial Intermediaries including Mutual Funds to 'know' their Clients. This would be in the form of verification of identity and address, providing information of financial status, occupation and such other demographic information. Applicant must be KYC compliant while investing with any SEBI registered Mutual Fund.

What are the KYC requirements for a Mutual Fund Investor?

Individual investors will have to fill-up KRA KYC application and need to produce his Proof of identity (Photo PAN card copy or PAN card copy and copy of the passport, driving license etc.) and Proof of Address (any valid documents listed in section B of the KRA KYC Application Form for Individuals). Non -Individual Investors will have to produce certain documents pertaining to its constitution/registration to fulfill the KRA KYC process. A list of Mandatory Certified Documents to be submitted can be found in section C of the KRA KYC application form for Non-Individual Investors.

Where and how does one get to be KYC Compliant?Does the investor have to repeat the KYC process with every Mutual Fund?

The Mutual Fund Industry has appointed CDSL Ventures Limited ("CDSL"), a wholly owned subsidiary of Central Depository Services (India) Limited, to carry out the KYC compliance procedure. CVL through its Points of Service (POS) will accept KYC Application Forms, verify documents and provide the KYC Acknowledgement (across the counter on a best effort basis). The list of PoS will be displayed on the websites of Mutual Funds, CDSL and AMFI. There is no need to repeat the KYC individually for each mutual fund.

What is a KYC Application Form?

A MF KYC Application Form has been designed for Individual and Non-Individual Investors separately. The soft copy of these MF KYC forms will be made available on the website of all mutual funds, AMFI and CVL (CDSL ventures limited). It is important to read the instructions printed on the KYC Application Form while filling-up the form.

Should the investor visit PoS personally to obtain KYC Compliance?

No. If the investor is not in a position to visit PoS personally, the KYC Application Form along with the necessary documents (including originals if the copies are not attested) can be sent through the distributor or representative, who can arrange to fulfill the KYC obligation and obtain the KYC Acknowledgement through any of the PoS.

From what date is it mandatory for an investor to be KYC Compliant?

With effect from 01 February 2008, KYC was mandatory for investment amounts above 50000. However as per AMFI circular dated 16 August 2010 to AMCs, investors irrespective of the investment amount would have to be KYC compliant with effect from October 01, 2010.

To whom is a KYC applicable? Is there any exemption?

Currently, all investors (Individuals or Non Individuals) who wish to make an investment in Mutual Funds will be required to be KYC Compliant. This would also apply to new Systematic Investment Plan (SIP) transactions on or after 01 February 2008. Please find the list of personnel who are required to be KYC compliant.

Joint Holders: Joint holders (including first, second and third if any, are required) to be individually KYC compliant before they can invest with any Mutual Fund. . e.g. in case of three joint holders, all holders need to be KYC compliant and copies of each holder's KYC Acknowledgement must be attached to the investment application form with any Mutual Fund.

For transmission (In case of death of the unit holder): If the deceased is the sole applicant, the claimant should submit his/her KYC Acknowledgement along with the other relevant documents to effect the transmission in his/her favour.

In case of existing investors when and how will the KYC norms be introduced?

KYC norms are applicable to all investors. It is in the interest of all Investors to obtain KYC Acknowledgement and submit it to the Mutual Fund to avoid any inconvenience in future.

What are the consequences of KYC cancellation/rejection?

In the event of any KYC Application Form being found deficient for lack of information / insufficiency of mandatory documentation, further investments will not be permitted.

Is there a charge I need to pay to get myself KYC Compliant?

Currently, KYC is being done free of cost.

I am an NRI residing outside India. How do I get myself KYC Compliant?

Individual investors can fill-up KRA KYC application. The soft copy of these KYC forms will be made available on the website of all Mutual Funds, AMFI and Central Depository Services (India) Limited (CDSL). The same duly completed along with the necessary attested documents can be submitted at the PoS or mailed to your representative or Distributor who can complete the KYC formalities for you.

Are there any special requirements for an NRI?

Yes. In addition to the certified true copy of the passport, certified true copy of the overseas address and permanent address will also be required. If any of the documents (including attestations/ certifications) towards proof of identity or address is in a foreign language, they have to be translated to English for submission. The documents can be attested by Notary public / Branch Manager of schedule commercial bank and multinational foreign bank / Officials from Indian Embassy can verify the documents with originals with their seal and signatures.
Foreign nationals are not allowed to apply, unless they are Non-resident Indians or Person from Indian origin.

Is there any special requirement for a PIO (Person of Indian Origin)?

The requirements applicable to an NRI will also apply to a PIO. However, additionally, he will need to submit a certified true copy of the PIO Card.

Whom do I inform about change of Name/Address/Status/Signature etc?

You should intimate your change of Name / Address / Status /Signature etc. to any convenient PoS. You need to quote / submit a copy of your KYC Acknowledgement, and proof (in case of new address). You should provide for at least 15 days for the change of address to take effect with all the Mutual Funds with whom you are invested.Please note that you should not write to the Mutual Fund or its Registrar for the change of address (unless as a designated PoS). The specified form can be obtained from the AMFI/Mutual Fund website. All details of the holders in the Mutual Fund records will be replaced by the address details available in the CVL record.

If I am already providing my PAN/PAN Proof for my investment in Mutual Fund. Is that not sufficient for meeting the requirement of KYC?

The requirement of providing your PAN along with proof is sufficient for proof of identity. However, the current requirement for KYC requires the Mutual Fund to verify identity, address as well as obtain further information about the investor.

Why do I need to give my Income details? How can I be sure that it will not be misused?

As per the Prevention of Money Laundering Act ( PMLA ), it is mandatory for Mutual Funds to obtain financial status details from its investors. It is for this reason that the Income details are sought. Please note that no proof / income documents are required. The information given you in the KYC Application form will be treated in a confidential manner and used for regulatory purposes if called for.

Do I need to inform about my change of Income status?

Yes. If you find an increased/decrease in your income, which would effectively, changed the income bracket that you have declared in the KYC Application form, you should apply to any convenient PoS in the specified form. No proof is needed.

For signature difference in investor request, Mutual Funds generally ask for a banker attestation. Since a signature is not available with identity proof, will you still insist on banker attestation for signature difference?

Signature verification is done by Mutual Funds to protect an investor from losses. As such, Mutual Funds may follow extra due-diligence if signatures are not matching, such as getting Bank attestation for such transactions. This could be independent of the KYC procedure.

. Are these bonds available for online investment? What is the maturity period of 7.75% Savings (Taxable) Bonds, 2018?       Top

Yes, tthese bonds are available for online investment at www.icicidirect.com. The maturity period of 7.75% Savings (Taxable) Bonds, 2018 is 7 years.

. Who issues Savings bonds? Is payment guaranteed on maturity?

Saving Bonds are issued by the Government of India. As these bonds are sovereign in nature, payment is guaranteed on maturity.

. Who can invest in Saving Bonds through ICICIdirect?

As per the eligibility criteria, the Bonds may be held by – (i) an individual, not being a Non-Resident Indian- in his or her individual capacity, or in individual capacity on joint basis, or in individual capacity on any one or survivor basis, or on behalf of a minor as father/mother/legal guardian. (ii) a Hindu Undivided Family.

However, only Resident Individuals in his/her individual capacity are allowed to invest online through www.icicidirect.com. HUFs & for Individual who wishes to invest in Joint holding mode has to invest offline by filling up the physical application form.

. What is the role of ICICI Bank?

All applications made through ICICIdirect shall be handled by ICICI Bank who would act as a RBI authorised Receiving Office. ICICI Bank would allot the Bond Ledger Account (BLA) no. for the investments made through ICICIdirect.

. What is the minimum and maximum permissible investment?

The minimum permissible investment for 7.75% Savings (Taxable) Bonds, 2018 is INR 1000/- and in multiples of INR 1000/- thereof. There is however is no maximum limit of investment.

There is however is no maximum limit of investment.

. How do I apply for Saving Bonds through ICICIdirect?

For investing in Saving Bonds you will need to first allocate funds for the purpose of investing. You will need to click on the modify allocation page and allocate funds for investing in “Mutual Funds, IPO and Others”. Once sufficient funds have been allocated you can apply for these bonds by clicking on the button for GoI bonds. Thereafter click on the place order button and apply for Bonds by filling in the required details.

. When is Interest Payable?
Interest is payable at half-yearly intervals from the date of issue or compounded with half-yearly rests, payable on maturity alongwith the principal, as the investor may choose. Interest to the holders opting for non-cumulative Bonds will be paid from date of issue and upto 31st July/31st January, as the case may be and thereafter at half-yearly for period ending 31st July/31st January on 1st August and 1st February.

. How would I receive the Interest?

The interest on your Saving Bonds would be directly credited to your ICICI Bank account linked to ICICIdirect.

. What is the value date? How is the same determined?

Value date is the date from which the bond starts earning interest. In the case of investments in Saving Bonds through ICICIdirect, all investments made before 2:30 p.m. i.e. the cut-off time, would receive the value date as the transaction date. All investments made after 2:30 p.m. would receive the next business day’s value date. Investment made on Saturday or other holidays would receive the next business day’s value date. Since the processing of applications would be at Mumbai, bank holidays as applicable in the State of Maharashtra would apply and next working day shall be considered as Business Day.

For e.g.: Investment made on June 9th before 2:30 p.m. would receive the value date of June 9th itself. However if the investment were made on June 9th, after 2:30 p.m. the value date would be of June 10th. If June 10th and 11th fall on a Saturday and Sunday respectively, the value date would be of the next business day i.e. June 12th. If June 9th is a bank holiday in Maharashtra, even for investments made before 2.30 p.m., the value date shall be June 13, Monday.

. Will I receive any confirmation for the transaction?

Yes. an e-mail will be sent to you detailing the transaction.

. When will I receive my Bond Ledger Account number?

As soon as the bonds are credited to your Bond Ledger Account, an e-mail will be sent to you specifying the Bond ledger Account number and the number of bonds held. You can also view your Bond Ledger Account number on the Portfolio Page and the Order Book.
ICICI Bank will also send a certificate of holding detailing your investment. This should reach you within 15 days of allotment of Bond Ledger Account number.

. Can I view my holdings Online?

In case you wish to view your holdings online, please click on "FD/Bonds" in the "Portfolio & Statements" section. You will be able to view your holdings in 7.75% Saving Bonds done online through www.icicidirect.com.

. How can I appoint a nominee for my Bonds in online application/s?

In case if you wish to update nominee, please fill up online nomination form at the time of applying in these bonds online. Once the order is placed successfully, please take the printout of the pre-filled nomination form from "FD/Bonds >> Order Book" and send the signed copy of the same to the address mentioned on the form.

. How can I redeem the bonds?

On maturity, the issuer shall credit the proceeds directly to the registered bank account of the customer.

. In case I do not encash the bonds on expiry will I continue to earn interest?

No interest would be payable after maturity in case the bonds are not encashed.

. Can I transfer the bonds prior to maturity?

7.75% Savings (Taxable) Bonds, 2018 are non–transferable

. What are the tax benefits available?

Interest on 7.75% Savings (Taxable) Bonds, 2018 will be taxable under the Income-Tax Act, 1961 as applicable according to the relevant tax status of the bondholder. However these bonds will be exempt from Wealth-tax under the Wealth-tax Act.

. Tax deductible at source on the interest payment in case of 7.75% Saving Bonds?

Tax will be deducted at source while making payment of interest on the Non-Cumulative Bonds from time to time and credited to Government Account.

Tax on the interest portion of the maturity value will be deducted at source at the time of payment of the maturity proceeds on the Cumulative Bonds and credited to Government Account.

Provided that tax will not be deducted while making payment of interest/ maturity proceeds, as the case may be, to individual/s who have made a declaration in the application form that they have obtained exemption from tax under the relevant provisions of the Income Tax Act, 1961 and have submitted a true copy of the certificate obtained from Income Tax Authorities.

. Can I use these bonds as collateral for obtaining loans? Also, can these be traded in the secondary market?

The Bonds shall not be tradable in the secondary market and shall not be eligible as collateral for availing loans from banks, financial Institutions and Non-Banking Financial Companies.

Premature encashment in respect of the Bonds shall be allowed for individual investors in the age group of 60 years and above, subject to submission of document relating to date of birth of the investor in support of age to the satisfaction of the issuing bank, after minimum lock in period from the date of issue as indicated below:

Lock in period for investors in the age bracket of 60 to 70 years shall be 6 years from the date of issue.

Lock in period for investors in the age bracket of 70 to 80 years shall be 5 years from the date of issue.

Lock in period for investors in the age of 80 years and above shall be 4 years from the date of issue.

What other resources will the site offer me to help in taking smarter online investment decisions?

Our site will offer you a comprehensive set of resources like online quotes, news, charts, financial databases, company reports, earnings estimates and a host of research based tools to help you make better decisions. We will also offer a comprehensive markets page where you can get to the latest update on markets, trends, news and events affecting the markets.

How do I get my Logon ID and PASSWORD for the first time?

If you have filled up the application forms for E-invest account directly without registering on the site, We would dispatch your LOGIN-id and password by normal post / courier in a sealed envelope. You need to activate your account for trading by visiting the Activate your account link on the Customer Service page.

How do I Change my password:

You can change your password anytime by accessing our Customer Service Section. In fact we strongly advise you to periodically change your password for added security. Your password must have minimum 8 characters and not more than 12 characters. The password will have to be alphanumeric, and preferably with one special character. We recommend that you use strong passphrases which cannot be guessed easily. A strong password is the key to secure your account and protect your transaction details.

If I have forgotten my password or if my account gets locked, then what do I do?

If you have forgotten your password, you could place a request for a new password or unlock your account by visiting the Unlock account / Request for new password link on the Customer Service page.

If I am requesting for new password then how will I receive my password?

You will receive your password at your communication address which is updated with us within 6 working days. You can check the status of the password on Unlock account / Request for new password link available on the Customer Service page.

What is Two Factor Authentication?

With reference to SEBI circular CIR/MRD/DP/ 8 /2011 dated June 30, 2011 regarding internet based trading (IBT), Two-factor authentication for login session is required to be implemented for all orders emanating using Internet Protocol towards enhancing security for online trading accounts. In order to comply with the same, hence forth, customers will have to enter either their Date of Birth or PAN at the time of logging in to the trading account along with entering the User Id and password.

Note : Date of Birth/Incorporation or PAN for Non-individuals (e.g. Corporates, Partnership Firms, Trusts, etc.) , LAS and DBC Accounts will not be required.

How secure are my transactions?

ICICIdirect brings you the highest standards of security, which are commercially available on the net. Millions of customers are dealing in shares on the net. We bring you the same level of security standards, which are used by leading international trading sites.

We use two level of securities on our web site : Secure Socket Layers (SSL) and 128 bit encryption technology to provide you the higher commercial available security standard on our web site. This is a worldwide standard of security adopted by all international online trading sites. SSL is a method of sending private documents through the internet by using a private key to secure messages. Data encryption methods are used to achieve data security.

What should I do if I suspect unauthorised access to my trading account?

You may call on 022-40701841 to place a request for blocking your account to prevent any unauthorised transaction.

How safe is my Bank Account?

Although your bank account is linked to the brokerage account, only you have access to it. ICICIdirect has access to it to the extent of the amount that you allocate exclusively for trading.

How safe are my Logon Id and password?

Your Logon Id and Password are only known to you as these are stored in encrypted form with us. Infact, even the first time also you get your own Logon Id and Password that are known only to you.

If there is no activity in the logged in section of our website for 20 minutes, you will be logged out for security reasons. You will need to login again to access your ICICIdirect.com account.

If you think that you are getting logged out frequently, though you are active on the web site, please follow the steps given below.

1. Please clear cache memory of your system before logging into your account in the following manner:
   • Click on Tools - Internet Options - Temporary Internet Files - Delete Files.
   • Click on Tools - Internet Options - Temporary Internet Files - Settings - Check for newer versions of stored pages - Set to Every Visit to the Page.
2. Please check the browser settings of your Internet Explorer. The optimum settings are stated below:
   • Select Tools - Internet Options - Privacy and set the level to Medium / High
      
     OR
     
     
   • If you are required to set the above settings at the maximum level (i.e. Block All Cookies) please follows the steps given below.
     1. Click 'Advanced' tab on Tools - Internet Options - Privacy
     2. Enable the option of 'Override automatic cookie handling.
     3. Under First-party Cookies, select the option of 'Block
     4. Under Third-party Cookies, select the option of 'Block'
     5. Enable the option of 'Always allow session cookies'
3. If you continue to face the issue, there is a possibility that you have a dynamic IP provided by your service provider. Kindly contact your system administrator and our Customer Care for resolution.

I have money in my bank account but if I place an order to buy it is not accepted?

Please check your Trading Limit. Even if you have money in your Bank account it has to be allocated by you for trading. The amount of money required before placing a buy order or a margin sell order would depend on the value of the order and whether the order is placed in the 'Cash Segment' or the 'Margin Segment'. In case of a Cash Order, 100% of the order value is required while for a Margin Order, only a specified % of the order value is required.

What happens when I allocate the amount for online investing?

When you allocate any amount from your Bank account, it gets blocked in your bank account and you get a TradingLimit. This money continues to earn the normal interest, which is applicable to the Bank Account. In fact if you have not used this money while trading, you can always remove the block. When you unblock the money your trading limit also reduces proportionately.

I have not earmarked any money from my Bank Account but still my Trading Limit is positive?

If you sell some shares in the cash segment, generally you can use the money to make purchases on the same day. This results in your trading Limit going up.

I have sold some shares but my trading limit has not gone up?

The possible reason could be the share you sold is currently trading in 'No Delivery'(ND) period and hence the money may be received from the exchange only after 2-3 settlements . Please check the list of stocks in no delivery. However, you need not worry as ICICIdirect will keep track of No Delivery trades and ensure that your Trading Limit gets updated on the appropriate day.

If I don't have access to internet will I be able to use this service?

Yes and No. You must have access to Internet, but it need not be from your residence or your office. You can walk into one of our ICICI Centers, where we shall be putting up terminals, and access our site on the Internet. You can also walk into any cyber café and access our website ICICIdirect.com for online investing. You may also call on our Customer Care numbers to trade through the facility called Call N Trade where our officers would place orders on your behalf after a thorough authentication.

I am finding the site slow

Please give time for the browser cache to build up on your computer. You will find that the site will respond faster with time. The new technology only reloads the part of the page that you have requested or refreshed and hence the speed of the site is better when you refresh a page.

I am not able to view the pages completely and some options like the login/logout are not visible.

The site is best viewed with Internet Explorer 7.0 and above and with screen resolution 1024 by 768. Please check your browser & screen resolution.

The order ticket doesn't scroll down.

Please check your browser. For some of the features you will need to use Internet Explorer 7.0 and above.

Can I increase the font size?

The font size can be increased by using the browser zoom feature which is a standard feature in all contemporary browsers.

I am unable to see sub-menu's of main menu.

Sub-menu will be displayed on moving your mouse over the main menu. You need to click on sub-menu to visit the target page.

The Virtual key is not very visible while I am logging in.

The Virtual key will become more visible when you click on "use virtual keyboard".

I am not able to access the site from our office.

The ICICidirect.com site is accessible behind proxy. In case you have difficulty in accessing the site, please contact your IT support team.

Can I access site from my mobile handset?

Yes, if you have a GPRS/CDMA connection you can access our low bandwidth site (ICICIdirect.com on the move) that has been made for smaller screens.

I am unable to access the new ICICIdirect.com smoothly on mobile.

The new ICICIdirect.com is accessible from all new and contemporary handsets. For older handsets, we recommend you use LBS(Low Bandwidth Site) on mobile for smooth transaction However please share your specific feedback on feedback@icicidirect.com

The site gets stuck, hangs and gives error as "Page cannot be displayed" on certain links on IE 6.0 browser.

Our site is best viewed on IE7 & above, For IE 6 users, please clear cookies, temporary internet files and follow the instruction prompted to make the required setting changes to access the new ICICIdirect.com properly.

The New site does not allow me to open multiple links on different windows. I am unable to keep multiple pages open for trading.

You can use File-New Window (Ctrl + 'n' - Keyboard Keys) option to keep two separate window open for tracking & trading.

I am unable to open modify allocation in separate window or tab using right click on the link.

Modify allocation link is provided on all transaction (buy or sell) pages, you can click the link & make the necessary allocation without loosing the page/filled content.
Or, You can also use ICICIdirect.com Order Ticket to do modify allocation.
Or, You can use File-New Window (Ctrl + 'n' - Keyboard Keys) option to open new window & modify allocation.

Equity & Derivatives Segment:

Details of transactions executed in your ICICIdirect account are made available to you on your e-mail id vide digitally signed contract notes. They are also posted on our official website www.icicidirect.com. Clients can view/take printouts of the same by logging on to www.icicidirect.com and selecting the option of Digital Contract Notes on the Customer Service page

Further, details of the orders placed on a trade date is provided to clients vide emails giving information of the orders/trades placed in their account on a daily basis.

In addition to the above, Equity statements are available On line. To access the statements, please login to your account and visit the 'Transaction Statement' link under the Customer Service page of www.icicidirect.com.


Mutual Fund Segment:

As an intermediary for distribution of mutual funds, I-Sec enters into arrangements with various Asset Management Companies (AMC) for facilitating buying of mutual funds primarily through the website www.icicidirect.com. Pursuant to the arrangement, in compliance with SEBI Regulations, I-Sec posts electronic statements on www.icicidirect.com at the end of every month for mutual fund transactions entered by the clients in the immediately preceding month. To access the statements, please login to your account and visit the 'Mutual Funds Statements' link under the Customer Service page of www.icicidirect.com.

Kindly note that the afore-mentioned details are as per the current company policies and are subject to change to comply with any future regulatory / company requirements.

To place a request for statements, you could visit the Request for duplicate statement link on Customer Service page

Trade effortlessly over the phone with the ICICIdirect.com CallNtrade® facility. You can place orders in Equity, F&O, IPO, Mutual Funds etc. at your own convenience by calling at any of our below mentioned Customer Care numbers, and our well trained executives will take your orders and place them on your behalf after due verification.

This facility is especially useful for those of our customers who are on the move or prefer to trade over phone.

What do I need to do to trade through the CallNTrade® facility?

In order to be able to avail the facility, you need to ensure that:
1. You have a Trading account with ICICIdirect.com
2. You have accepted the online terms and conditions displayed on the site
3. a. You have the access code for your account
                      OR
     b. You have your contact numbers updated in your trading account

What if I don't have my access code?

In case you do not have an "Access code", please call us from your registered contact number. Our Customer Care executive will ask you a few questions to establish your identity. On satisfactory verification, our executive will place orders on your behalf.

What if my contact details are not registered?

You may avail the CallNTrade facility by providing your access code along with your Trading Account Number / User Id. In case you do not have an access code, you may generate one online.

Alternatively, you may get your contact details updated in your trading account. This would make using the CallNTrade facility simpler when you call the next time.

Are there any specific timings during which I can avail of the facility ?

You may avail of the facility anytime between 9AM to 7 PM - Monday to Saturday (except trading holidays).

Can I place orders when the markets are not open?

Yes. You may request for placing orders, during the time mentioned above, even when the markets are closed. However, only Limit orders will be allowed to be placed during the non-trading hours. Such orders will be sent to the exchange only after the market opens.

What are the charges for CallNTrade facility?

The charges are as follows:

First 20 Calls per month	-	Free
>20 Calls	-	25 per call Plus applicable taxes included.

"Please note for trades in Currency and Commodity segments through Call N'Trade would be Rs 50 per order. For customers with active ICICIdirect Neo plan the Call N'Trade charges of Rs 50 per order would levied in Equity and F&O segments also."

What is Online Password Re-Generation?

Online Password Re-Generation facility provides you with an option to re-generate your password online and have access to trading through www.icicidirect.com, in case you forget your password. In order to avail this facility, you would be required to register yourself through www.icicidirect.com.

Who can avail Online Password Re-Generation facility?

All online customers can avail Online Password Re-Generation facility through www.icicidirect.com.

Can I avail the Online Password Re-Generation facility without being registered for this facility?

No. To avail this facility you will have to register with ICICIdirect.com. The registration process is a one time activity.

How can I register for Online Password Re-Generation facility?

You can login to your ICICIdirect.com account with your existing user id and password and visit Customer Service Page > "PASSWORD RE-GENERATION" link, then fill in your Email address and Mobile number and click on "Register" button. You will be successfully registered if your Date of Birth and valid PAN number are available in the system. On successful registration, the Grid will be sent to your Email address registered with us.

What is a Grid? Why is a grid required?

A Grid is a system generated encrypted pdf file containing series of alphabets with corresponding numeric values arranged in a tabular form. The Grid will be required for your authentication and online re-generation of password.

How can I generate a Grid? How will I receive the Grid for generation of online password?

On successful registration, the Grid will be automatically sent to you at your registered email address.

What happens if wrong email address and or wrong mobile number is entered at the time of generating Grid?

System will not allow you to generate the Grid if the email address and/or mobile number entered by you is incorrect or does not match with our records.

Where can I view my registered mobile number and email address? Can the mobile number and email address be changed online?

Yes. You can login into your account and visit the Customer Service Page > General Profile to view or change your mobile number (valid country code is a must) and email address.

When does the online change of email address and mobile number get updated at ICICIdirect?

The online change in email address and/or mobile number gets updated immediately in the ICICIdirect systems.

What is the validity of the Grid received by email?

The Grid i.e. the pdf file will expire in 180 days and a new set of grid values would be sent to your registered email address after 175 days of generation of the earlier Grid. You are required to use the new set of grid values for online password generation after 180 days.

Where can I view the validity period of the Grid?

The validity period of the Grid is mentioned on the pdf for your ready reference as the "from and to date" for which the Grid would remain valid.

Can I use the Grid more than once for online password generation?

Yes. You can use the Grid more than once for online password generation by entering the required values from the grid whenever requested for the same.

Can I generate the Grid more than once?

Yes. You can re-generate the Grid again in case you do not have the earlier Grid available with you.. But the grid cannot be generated more than once on the same day.

How do I re-generate the Grid?

Once you are registered you can at any point of time re-generate the Grid by visiting the Customer Service Page > "PASSWORD RE-GENERATION" link > Re-generate Grid.

Can the grid be used after the validity period?

No. The Grid values should not be used after the validity period since the same expires for authentication. The new grid values should be used.

Post expiry of Grid, I have not received the auto generated Grid, What should I do?

You can call our Customer Care Numbers to get the last Grid send details. In case you recollect your password you can re-generate the Grid by visiting the Customer Service Page > "PASSWORD RE-GENERATION" link > Re-generate Grid. In case you have forgotten the password & have not received the grid you can reset your password through the physical mode.

What happens if the wrong or expired Grid values are entered?

Your authentication would fail if wrong or expired Grid values are entered. In case incorrect values are entered 3 consecutive times, you will be automatically disabled from availing the online password re-generation facility after the third attempt.

How do I generate my password online after receipt of the Grid?

Once you have received the Grid you can generate your password online at any time by following the below steps:

1. Visit the Login Page > select "Forgot Login ID / Password" option
2. Select Option 2 under Online Password section
3. On step 2, fill in the below details:
• User Id or Form No.
• Date of Birth and
• PAN
• 4 values from Grid
4. Click 'Get URN'
5. URN will be sent to the mobile number as well as e-mail address registered with us.
6. On receipt of URN, click on step 3
7. Enter the below fields:
• User ID or Form No.
• Date of Birth
• PAN
• Captcha Code
• URN
• New Password
• Confirm Password
8. Click on 'Create Password' and your new password will be generated.

What is URN?

URN is a "Unique Reference Number" required to generate your password online. It is a 8 digit number which would be asked by the system while you re-generate your password online.

Why is URN required?

URN is required for authentication purpose for your online password re-generation.

How is URN received?

URN will be sent to your registered mobile number. Kindly note that your mobile number registered with us should have a valid country code.

What is the validity of the URN?

The URN is valid for 24 hours from the time of placing the request on site. To re-generate your password after 24 hours you need to re-generate a fresh URN.

How to re-generate URN?

You can re-generate URN by following the below steps:

1. Visit the Login Page > select "Trouble Logging In" option
2. Fill in the below details:
• User Id or Form No.
• Bank Account No.
• Date of Birth and
• PAN
3. Select "Online Password" link
4. On selecting the above link you will be required to enter 4 values from the Grid
5. Click on 'Re-generate URN' option

What happens if incorrect or expired URN is entered at the time of online password re-generation?

The system authentication would fail if the wrong or expired URN values are entered by you. In case incorrect values are entered 3 consecutive times, you will be automatically disabled from availing the online password re-generation facility after the third attempt.

How can I get enabled for the online password re-generation facility if I have been disabled?

In case you get disabled from the Online Password Re-Generation facility, you may follow below steps:

1. You can request for issue of new password through the normal process . You can either:
• Call up the Call Centre and request for new password
  OR
• Visit the Customer Service Page > Unlock trading account or Issue new password.
2. The PIN mailer containing your new password will be sent to your registered address.
3. On successfully changing your password with the above PIN mailer, you would be be automatically activated again for the Online Password Re-generation facility.

Can I De-Register from the Online Password Re-Generation facility?

No. You can not De-register from the Online Password Re-Generation facility.

How can I get a password if I have not registered for Online Password Re-Generation facility?

If you have not registered for Online Password Re-Generation facility and you forget your password, you will have to go through the normal process of requesting issue of new password. You can either call up the Call Centre or visit the Customer Service Page > Unlock trading account or Issue new password. The PIN mailer containing your new password will be sent to your registered address.

Can I Register or generate the Online Password through Call Centre or Call N Trade?

No. Registration for Online Password Re-Generation facility can be availed only by you through www.icicidirect.com.To register click here.

What does ASBA stand for?

ASBA means "Applications Supported by Blocked Amount". ASBA is an application containing an authorization to block the application money in the bank account, for subscribing to an issue. This facility is being offered by ICICIDirect in affiliation with ICICI Bank Limited.

What is the difference between the Non-ASBA IPO process and the ASBA process?

In the Non-ASBA IPO process, the bid amount(application money) is debited from the bank account once the bid application is successfully placed with ICICIDirect. Under the ASBA process, the amount is not debited from your bank account until successful allotment. Until such allotment, the amount will remain blocked in your bank account.

Can I withdraw the amount blocked for ASBA bid application?

No. The blocked amount cannot be withdrawn. Such amount will remain blocked in your linked bank account till the allotment is completed.

Do I need to execute any additional documentation for availing this Facility?

No. You do not need to execute any further physical documentation to avail this facility.

Is this facility available for all IPOs ?

No. Application under this facility can be placed only for Book Built Public Issues.

How can I bid under the ASBA facility?

For placing a bid under the ASBA route, you will have to :
Login to your icicidirect.com account =>
Click on the "Trading Page" =>
Click on the "IPO Link" => a new checkbox "ASBA" has been provided on this page. Presently, ASBA and Retail are ticked by default. Retail Customers would only be required to enter the "Quantity" and "Price" and accept the "Terms & Conditions" before submitting the bids.
For bidding under the Non-ASBA process you would be required to untick the "ASBA" option and proceed as usual.

Can I bid in an IPO under ASBA as well as under NON ASBA route?

No. If an applicant applies through both ASBA as well as non ASBA then both the applications having the same PAN, will be treated as multiple application and hence rejected.

Will I get priority in allotment for bidding under this facility?

No. ASBA forms will be treated similar to the non-ASBA forms while finalizing the basis of allotment..

Do I need to manually update the portfolio for shares allotted in IPO?

No. The allotted shares would get automatically updated into your equity portfolio for shares applied through ASBA. However, if you have applied through the non ASBA mode, you will have to manually add the allotment of shares in your portfolio.

Till what time can I bid under this facility?

Bidding time will be same for ASBA and Non ASBA applications.

Can I bid at multiple rates under ASBA?

Yes, you can place three bids under ASBA.

Can I revise the bid?

Yes, you can revise your bid under the ASBA facility. In case of upward revision of bid, additional lien will be marked to the extent of incremental amount. However, in case of downward revision, differential money blocked earlier will not be released. Such amount, if any, will be released after allotment.

Can I withdraw my bid placed under ASBA during the bidding period?

Yes, you can place a withdrawal request anytime during the bidding period. After successful processing of your withdrawal request, the money will be unblocked in your bank account.

What happens when the issue fails/is withdrawn?

In case the issue fails/withdrawn ICICIDirect shall unblock the application money from the bank accounts upon receiving instructions from the Registrar.

To change the address in ICICI Direct Account, you need to first get the address changed in your demat account.

Procedure to change address in Demat

1. Fill in the change in address form (individual / non-individual) (www.icicibank.com > Demat Services > Service Request Form > Form for change in correspondence address).
2. Need to provide physical documents
1. PAN Card Copy ( mandatory )
2. Address proof (list available on the form)
3. Form needs to be signed by all Holders.
4. Documents needs to be self attested and to be attested by ICICI Bank Official. So please walk to any demat desk at ICICI Bank Branch.
5. All the documents can be submitted at any of the ICICI Bank Branches having Demat Centers (www.icicibank.com > Demat Services > Service Request Form > Demat Branches).

Procedure to change address in Mutual Fund at AMC

You need to provide a separate copy of Request for Change of Address for each of the Fund ( AMC ) held by you in ICICIdirect.com Account.

Please send the documents at the below address :

Mutual Fund Operations Team
ICICI Securities Limited
Shree Sawan Knowledge Park,
Ground Floor, Plot No. D-507, T.T.C Ind Area,
M.I.D.C, Turbhe, Opp Juinagar Railway Station,
Navi Mumbai - 400705.

Note :	You can check the folio number in Unit Holdings under Mutual Fund Section once you login with your ICICI Direct user ID and password.
	Resident Trading account number starts with 85*****
	NRI Trading Account number starts with 65***** / 75*****

What is "Systematic Equity Plan" (SEP)?

SEP is a new facility offered through ICICIdirect.com using which you can place buy orders for a prespecified amount or for a prespecified quantity in scrips of your choice at regular intervals over a period of time as selected by you. For instance, you can select a SEP for a period of say 6 months to invest 2000 per month/ other permitted frequency in shares of BHEL or alternatively you can choose to buy 10 shares of BHEL every month/ other permitted frequency through SEP.

After you have provided the necessary details i.e the scrip, amount/ quantity to be invested, frequency of investment, total time period and authorized ICICI Securities (I-Sec) vide your SEP request, I-Sec will place your SEP buy orders at market price.

Can all clients of ICICI Securities Limited avail SEP facility?

Yes. All online existing and new clients of ICICI Securities Limited can avail the SEP facility.