The National Stock Exchange IFSC Clearing Corporation Ltd. (NSEIX) on June 27, 2024, notified regarding the Cross Margin benefit between different spread pairs.
The following has been stated:
• The NICCL provides Cross Margin benefit in the following spread pairs:
o NIFTY – BANKNIFTY
o NIFTY – FINNIFTY
o NIFTY - Constituents of NIFTY 50 Index
o BANKNIFTY – FINNIFTY
o INRUSD- QINRUSD
• Applicable spread benefit percentage, spread priority and cross margin ratio/delta is provided in Annexure 1.
• The Cross Margin ratio of INRUSD and QINRUSD shall be determined based on the contract value of INRUSD and QINRUSD. For one position in INRUSD, an equivalent position in QINRUSD shall be arrived upon by dividing the contract value of INRUSD by the contract value of QINRUSD. The contract value of both products shall be arrived by using the underlying price of both products.
This notification will come into force from June 28, 2024.
[Notification No NICCL/RMS/784]
