Transactions in Cash Market segment
Axis Securities Limited (the company/ASL) allows you to trade based on upfront margin policy and not on post trade basis. You shall make funds available to the company by blocking your bank account balance linked with your trading account before you trade and the same shall be treated as a part of the 'CASH' limit and the funds which are to be received by you for your previous sell position, if any, shall be a part of 'NON-CASH' funds. The limit given against collateral is also the part of 'NON-CASH' funds. The total of CASH and 'NON-CASH' funds will be the trading limit. However, the collateral limit cannot be used for taking position in Cash Product.
Cash product (Delivery product): In case of Cash product you shall be allowed to place buy order only if limits equivalent to the full value of purchase order is available in your account. Similarly for a sale order free balances in your linked demat account shall be checked for full sale quantity. For Buy/ sell transactions the required cash/ securities shall be blocked in full and pulled into ASL bank/pool account on the same day (T day) to avoid any shortages at a later day and before settlement is complete. In case you do some other sell transaction then the funds equivalent to the net obligation only will be pulled from your bank account and the block on the balance funds, if any, shall be released. Buy/sell transactions in Cash product are settled by delivery unless squared off within the same settlement.