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Association of National Exchanges Members of India (ANMI) has urged regulatory authorities to reconsider the proposed 100 per cent levy on day trade peak margins as the margin is 300 per cent of what should have been the actual levy.
ANMI has written to the Securities and Exchange Board of India (SEBI), expressing its opinion that there is a great disconnect between what is being collected from clients and what needs to be collected vis-a-vis the attendant risks arising in intraday trades.
ANMI, however, reiterates that they are not against collection of intraday margin levied on clients nor the levy of full margin on the Clearing member irrespective of the nature of the trade.