We are glad to announce the launch of Shares as Margin for Equity Segment shortly. You may be aware that this facility is already available for the Derivative segment on ICICIdirect.com.
You can now put to use the shares in your demat and create limits to trade and invest in Equity Products also.So this means that if you wish to invest today and take delivery of a stock, instead of allocating funds today, you can create limits using "Shares as Margin" facility and use the Margin (Client Mode only) to buy the desired stock.
You can start by just following simple steps:
Click on "Shares as Margin" link on Equity Trading page
Allocate Securities from your demat to create Limits
Take desired position in Margin product under 'Client Mode'
Allocate required funds in the linked bank account within T+2 day and change the position to
"Convert to Delivery" to take delivery of your stock
If you wish to benefit from the intra day volatility then use the facility to trade in Margin (Broker
mode)
A few things you should know before you start:
The limit created using Shares as Margin need to be allocated for trading. The allocated limits
would be fungible and can be used in both Equity and Equity Derivatives segment. These limits would be visible on both Equity and Equity Derivatives segment page, however, the maximum limit that can be utilised in both the segments taken together cannot exceed the allocated limits under Shares as Margin.The shares would be pledged with ICICI Securities
The unallocated Shares as Margin limit will be available under "Net withdrawal balance" which
you can allocate at any time for further trading in Equity and F&O. The unallocated limits would not be considered towards margin requirements for Equity and F&O segment for creating new positions as well as existing open positions
Shares as margin limit can not be utilised for CTD (Convert to Delivery), for which you would
be required to allocate funds
You would be able to withdraw/reduce securities to the extent of free Shares as Margin limits
Equity Limit page will display Current Cash Limits, Current Securities limit and Total limits
You would be required to allocate sufficient funds for meeting obligations arising out of Loss
on square off of the position and Brokerage and other charges else pledged shares would be sold to recover the shortfall, as is being done presently
We hope you will find this new feature useful. This feature would be available on our site shortly. Please feel free to contact customer care or write to us on helpdesk@icicidirectcom for any clarifications.
