Comment on Latest Pi update - 29th Feb 2016

Venu commented on 24 Jun 2016, 04:43 PM

1. Access to your funds were not blocked. The facility to place a specific type of order were blocked as a risk containment measure. At all points of time you were free to use the funds to trade in the other product codes that were available. Additionally, when the volatility subsided, the product code (MIS) was made available.

2. As a Stock Broker, we are allowed to take certain meaures so as to ensure that no debits happen in client accounts. MIS – is a leveraged product. So, even with the Exchanges having circuits, a client’s account can very well go into debit. In order to counter that it was blocked briefly.

3. Your claim that the funds were blocked is untrue. NSE/BSE doesn’t set rules for a broker or for the kind of leverage that a broker has to provide for Intraday trading. It’s a business risk every broker takes.

4. I wouldn’t be able to comment on the RMS policies of other brokers. In the past as well, on days when we have believed the volatility will be substantial, margins have not been provided.

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