NSE will allow market participants to transfer collaterals placed in the form of cash and fixed deposit receipt from securities lending and borrowing schemes (SLBs) to other segment and vice-versa on an intra-day basis from September 19.
The decision will facilitate participants in optimising the utilisation of idle collateral deposits.
Participants can verify the details of the request for transfer and its status in CIM (collateral interface for member) under menu option ‘Collateral Release-New Request /inquiry — Transfer Inquiry.
Besides, market participants would be permitted to place 51 approved securities as liquid assets towards margin requirements in securities lending and borrowing schemes.
They would deposit these approved securities in electronic form (demat securities) in depository accounts maintained with authorised custodians — HDFC Bank, ICICI Bank, Axis Bank, IL&FS Securities Services and Stock Holding Corporation of India.
These securities would be pledged in favour of the exchange’s clearing corporation NSCCL (National Securities Clearing Corporation Ltd). The clearing corporation can revise the list of approved securities and the haircuts from time to time.