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Home » Clearing » Margins » Forms of Margin
 Forms of Margin

Members can provide margins in any of the following forms

1. Cash
    In case a member opts to place his margin in cash, he will have to bring cash in his  settlement account and instruct the clearing bank to
    transfer funds from the member’s settlement account to PXIL margin account.

2. Guarantee
    Irrevocable bank guarantees issued by the approved banks or FIs, Public Financial  Institutions(PFIs), etc. approved by PXIL in format
    prescribed by PXIL are accepted as margin.

    Format of Bank Guarantee

    Format of renewal of Bank Guarantee

    Link to PXIL approved banks

3. Fixed-deposit receipts
    PXIL will accept fixed deposit receipts issued only by PXIL approved banks as margin. The fixed deposit receipts will have to have a
    minimum issuance period of three months from the date of issuance.

    Link to PXIL approved banks

    Link to formats of fixed deposit receipts

 4. Credit limit
     Approved Banks, FIs, PFIs, NBFCs can provide credit limit to members and intimate the credit limit to PXIL and if found suitable by PXIL,
     these credit limits Allocation in favour of PXIL shall be accepted by the Exchange as margin.

     Format of intimation by Bank