General

Why the limit arising out of securities deposited as margin changes every day and sometimes during the day also?

This is because it is dependent on the valuation of the securities deposited as margin. The F&O and Equity limits arising out of securities deposited as margin is arrived at as the summation of : (Quantity of the stock deposited * Valuation Price of the stock ) * (1 - Haircut% for the stock) Generally, the closing price of a stock on the previous day is specified as the valuation price. Hence, the limit arising out of securities deposited as margin is recalculated every day when the new closing price for the securities is received. Limit may also change on account of changes in haircut% effected by ICICI Securities. In some cases, the above changes may be carried out during trading hours also. These may lead to either an increase or a decrease in the limit arising from securities deposited as margin. ICICI Securities also reserves the right to withdraw the limit arising from any one or more of securities deposited as margin without assigning any reason. Where the limit arising from securities deposited as margin reduces on account of the above, the margin available against the F&O and Equity positions/orders is reduced from any one or more positions/orders at the discretion of ICICI Securities. This may result in some positions having less than the minimum margins in case of futures positions leading to square off of the futures positions/cancellation of the orders. The trigger price for squaring off the option positions is also recalculated leader to earlier squaring off of option positions/cancellation of option orders. Therefore, where you have taken F&O and Equity positions on the basis of limits arising from securities deposited as margin, you are advised to track the prices of such securities closely and ensure that sufficient margin is always made available for the positions/orders.