Now, trade in Margin till 3.30 pm & pay funds by T+2 days

 

 

Closely following our recent product improvement in the portfolio pages (please click here in case you missed the recent communication on this), we are delighted to introduce improvements and enhancements in our Margin product. The subject line above sums up the the key benefits overall. But let's elaborate a bit on this. Firstly, now with the newly introduced 'Client Square off option', you would be able to create a fresh position or square off your 'Buy' Margin position anytime till the market close of 3.30 pm. Secondly, you now get the freedom to decide when to square off your Buy positions anytime till T +2, where 'T' represents the day you trade. For example, if you take a buy position on Friday, T+2 would be end of settlement on Tuesday. Now, lets first list down the main implications of this and thereafter illustrate these with a few examples. The implications can be listed as: Now you can continue with the Buy Margin position till T + 2 days, instead of   squaring off on T day by maintaining the necessary Margin amount You can now make the most of late market movements, since you can place   fresh Buy orders anytime during the day right upto 3.30 pm Or in fact, you could choose to take delivery of your existing Buy Margin position by paying the required funds by T + 2 days These enhanced features come to you with no additional charges. All positions Pending for Delivery would be considered as Cash Transactions Now, just a few examples to aid our understanding... Let us say, Raj wants to take a Buy position on Infosys under the Margin product on Monday (the 'T' day). Now while taking the position, he can choose to select between either the 'Client Square off' mode or the 'Broker Square Off' mode. Well, the 'Broker Square Off' mode is no different from the existing Margin product. Under this mode, as the terminology suggests, Raj's margin position needs to be squared off on T day itself before the specified time and if Raj does not do so, then ICICIdirect.com (the broker) will square it off anytime thereafter on a best effort basis. But, in the event, Raj chooses the 'Client Square Off' mode, Raj can benefit from a range of possibilities in a variety of situations such as: Situation 1: Raj expects late market movements in the market and in Infosys, for example. With the new product features, Raj can continue with his position till 3.30 pm and now has an extended window to square off any time before 3.30 pm. Situation 2: If Raj chooses not to square off on T day, he has the option to bring the required funds by T+2 days for taking the delivery of Infosys. Clearly, if you are a Margin trader, you can now make the most of it. And if you are not, we would urge you to study the Margin product. You could begin by clicking here to read the FAQs. Alternatively, you may like to call our 24 hour Call Centre once you are through with the day's trading. Or in fact, you could have a detailed personal interaction at any of our ICICIdirect stores. To locate these, do click here. As always, your suggestions are welcome and feedback, eagerly awaited. You could write back to us at feedback@icicidirect.com Happy trading! Best regards, Vishal Gulechha Head - Equity Product Group ICICIdirect.com   Please note: Currently we have enabled five scrips in the product. We would be adding more shortly. Refer to stock list on ICICIdirect.com for more details.   To unsubscribe, please click here Disclaimer