SEBI Cut-off Time for generation of last RPF for client’s margin collection purpose and modification in framework

Last updated: 17 December 2021

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SEBI has revised the framework for collecting margins from clients in the commodity derivatives segment. Following the 24/7 availability of RTGS and NEFT systems, previous cut-off times based on banking hours are no longer applicable. The circular introduces new requirements for additional snapshots for Risk Parameter Files (RPF) for contracts traded later in the evening, ensuring margin obligations are determined throughout trading hours. These changes are effective from January 15, 2022.

CIRCULAR SEBI/HO/CDMRD/CDMRD_DRM/P/CIR/2021/689 December 16,2021 To The Managing Directors / Chief Executive Officers Of All Clearing Corporations having Commodity Derivatives Segment Sir / Madam, Sub: Cut-off Time for generation of last Risk Parameter File(RPF) for clients margin collection purpose and modification in framework to enable verificationofupfront collectionof margins from clients in commodity derivatives segment 1. Reserve Bank of India (RBI) in its Statemen

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FAQ :

The circular modifies the framework for verifying upfront margin collection from clients in the commodity derivatives segment and adjusts the cut-off time for generating the last Risk Parameter File (RPF).

The change is due to the Reserve Bank of India making RTGS and NEFT systems available round the clock, removing the previous limitations imposed by banking channel availability.

For commodity derivative contracts traded until 9:00 PM, clearing corporations must send at least two additional snapshots. For contracts traded until 11:30/11:55 PM, at least three additional snapshots are required.

The circular will be effective from January 15, 2022.

SEBI Circular no. SEBI/HO/CDMRD/DRMP/CIR/P/2019/149 dated November 29, 2019, which mandated a 5:00 PM cut-off time, has been withdrawn.

Notification No : SEBI/HO/CDMRD/CDMRD_DRM/P/CIR/2021/689

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