Comment on Transfer funds into your trading account

Charming commented on 28 May 2015, 02:02 PM


My query is regarding funds payout. When I have closed my options position on a particular day is it possible for me to withdraw amount from my account on the same day if request is placed before 7:00 pm. For example, I have purchased option on 27th May 2015 and sold it on 28th May 2015, is it possible for me to withdraw the balance from my account on 28th May 2015 by placing a withdrawal request before 7:00 pm. I get to understand it is not possible since it is T+1 settlement.
1) If so, then how would I get the exposure for that amount to buy options on 29th May 2015 at 9:15 am?
2) Is this because contract notes for equities are sent late at midnight and that is the reason withdrawable amount will not be reflected in the back office before 7:00 pm?
3) Even commodities have T+1 settlement, but I will be able to withdraw the amount on the same day. If I have closed positions at 11:00 pm on 28th May then I will be able to withdraw amount on 29th May if request is placed before 9:00 am.

Kindly clarify as to why there is a difference in funds payout between Equities and Commodities.

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