General

For a given shortfall which is less than potential sale proceeds of the entire securities deposited as margin, how does ICICI Securities determine which of the deposited securities to sell and how much ?

To minimize the no. of sell orders, orders are first placed in respect of stocks which have the highest value (arising from greater quantity or greater prices). If the sale proceeds of the highest value stock does not appear to be sufficient to meet the pay-in obligations, the next highest value stock is taken up for sale. For determining the quantity to be sold, the securities deposited as margin are valued at current market price. For determining the quantity to be sold, the target amount to be realized is assumed to be higher by a sale margin to allow for possible price losses till the order reaches the market. The sale margin is standard for all the scrips enabled for 'Shares as Margin'. The quantity determined is rounded off to the nearest higher integer.