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What is a Canmoney account?

A Canmoney account is more than a broking account. It offers you a unique 3-in-1 account, which integrates Broking, Bank and Demat account. This means that you can buy and sell shares at the click of the mouse and the processes like clearing, settlement, pay-in, pay-out follow automatically through our high end technology solutions.

What is the 3-IN-1 concept?

Canmoney account allows you to integrate your Trading account with (Canara Bank Securities Ltd.) with your Bank account and Demat account at Canara Bank. You need to open a bank account at any CBS (CORE BANKING SOLUTIONS) branch of Canara Bank and a demat account with Canara Bank.

If I already have a Demat/Bank account with Canara Bank do I need to open a new account?

No. If you have a Demat account with Canara Bank and a Bank Account with Canara Bank CBS Branch, you can as well link these accounts to your trading account.

How do I operate my account?

Your Canmoney Account allows you to trade over the internet as well as over the phone through our toll free number 1800 22 0369 / 1800 103 1369 / 022 2406 3871 - 75.

Who is eligible for this service?

Any major Indian resident/non resident individual (subject to conditions), Institutions, Indian Corporates, Partnership firms, HUF can register as a client with CBSL. Client need to have an operative savings/current account and a demat account with Canara Bank.

How do I become a Canmoney customer?

You can become a Canmoney customer by filling a single set of forms available at all CBS Branches. These forms will help you open a Trading account along with a Bank Account and a Demat account. You can also contact us through the “Contact Us” link available on our website or call us on our toll free number 1800 22 0369 / 1800 103 1369 / 022 2406 3800.

I have sent in my application, what happens next?

Your application will be processed and you will be informed once your application is accepted and all the required accounts are set up. In case your application is not processed because of lack of some details, you will be informed accordingly.

How do I know my application has been accepted?

As soon as your application is accepted and account is opened, we will inform you by SMS, e-mail and mail. You will receive a welcome letter which will include your Login ID and your Telephone Identification Number.

Do I have to maintain any minimum balance in my Bank Account?

Yes, you have to maintain the minimum balance in your Bank Account as per the rules of Canara Bank.

Do I have to maintain any deposit with CBSL for the broking account?

No, you need not maintain any balance with CBSL. Only when you intend to trade you have to allocate the required funds or securities in favour of CBSL through the internet.

What type of Bank Account can I use for Canmoney?

You will need an operative savings or current account with any CBS branch of Canara Bank for trading through Canmoney. You can specify the account details in the form and it will be linked with your Canmoney account.

How frequently will I be able to know the status of my accounts?

The status of your Bank, Demat and Trading account shall be available to you completely online 24/7 hours a day through the Internet. You will be able to access all details regarding your orders and trades on the website. You will be able to see the results of your trade reflected in your Bank and Demat account, without waiting for the statements from the DP and the Bank.

I want to buy some shares. I do not have any money in my Bank Account. What do I do?

Please deposit a cheque/cash in your Bank Account by filling the pay-in slip. In case of a cheque, the money should come into your Bank account as soon as the cheque is cleared. Once you have funds in your bank account, you need to allocate the required amount for trading. Alternatively, you can sell some shares from your Demat Account in the Cash Segment i.e. on delivery basis and use the money to purchase the shares you want to buy. The amount of money required before placing a buy order or a margin sell order would depend on the value of the order.

I have sufficient balance in my bank / demat account, but I am still not able to place a purchase / sale order:

This might happen if you have not allocated either funds or securities that are available in your bank or demat account for trading. Even if you have adequate balance in your Bank / Demat account you will get limit only after you allocate it for trading.

Can I withdraw the amount allocated for trading?

The way you can allocate funds for trading, you can always reverse the allocation to the extent of the amount remaining unutilised.

Can I borrow or get a line of credit against my Demat Account?

For this you can contact your bank branch who would guide you on the norms for availing loans against shares.

On which exchanges will I be able to buy and sell shares?

CBSL offers its customers to execute their trades on NSE and BSE.

What kind of orders can I place?

You can place both market and limit orders.

Limit Order is an order to buy or sell securities in which you specify the maximum price per unit in case of a Buy order and the minimum price per unit in case of a Sell order. The actual transaction can be at the specified price or a price more favorable than the price specified.

Market Orders have different interpretations for both NSE and BSE.

Market Orders in NSE: This is an order to buy or sell securities at the best price obtainable in the market at the time it is matched by the exchange. Therefore, chances of its getting executed are better. In case of market orders for NSE, all market orders placed which are not executed become limit orders at the last traded price. Where a market order is not executed fully, it becomes a limit order for the balance quantity at the last traded price.

Market Orders in BSE: In case of market orders placed on BSE, all buy market orders go to the Exchange with the price of the best offer and all sell market orders go to the exchange with the price of the best bid. In case at that point of time it is found that that particular bid or offer is no longer present in the exchange this market order gets cancelled by the exchange. In case of part execution of market order, the remainder order gets converted into a limit order at the last executed price.

Market orders can be placed only during market hours (i.e. when the Exchange is open for trading)

What is a Disclose Quantity (DQ) order?

Normally, the order quantity is disclosed in full to the market. An order with a Disclosed Quantity (DQ) condition/attribute allows the Trading Member to disclose only a part of the order quantity to the market. For example, an order of 1000 with a disclosed quantity condition of 200 will mean that 200 is displayed to the market at a time. After this is traded, another 200 is automatically released and so on till the full order is executed. DQ (Disclosed Quantity) should not be less than 10% of the Order Quantity and at the same time should not be greater than or equal to the Order Quantity.

Which shares will I be able to buy and sell?

You will be able to buy and sell all shares in the Cash Segment that are traded in the compulsory dematerialised form on the exchanges. For the leveraged products (Intraday), CBSL will allow trading only in approved securities namely BSE A group scripts whcich are in F&O Segment of NSE. The list of approved securities is subject to change from time to time.

Do I get online confirmation of orders and trades?

Yes. You get online confirmation of orders and trades. The status of order / trade is updated on real-time basis in the Activity Log / Pending Order / Trade Log.

Can I modify my order?

Yes. You can modify an order any time before execution. You can do this by accessing the Pending Order and clicking on the hyperlink for 'Modify' against the order which you wish to modify. However, you cannot modify your order while it is queued with the exchange, i.e., confirmation is awaited from the exchange for the acceptance of the placement of any order or any modification/cancellation request. In case the order is already partly executed, only the unexecuted portion of the order can be modified.

Can I cancel my order in the system?

Yes. You can cancel an order any time before execution. You can do this by accessing the Pending Order and clicking on the hyperlink for 'Cancel' against the order which you wish to cancel. In case the order is already partly executed, only the unexecuted portion of the order can be cancelled.

Can I enter orders after the trading hours? What happens to such orders?

Yes. You can enter limit orders after trading hours by clicking on the AMO button. Orders placed after trading hours are queued in the system and are sent to the Exchange whenever the Exchange next opens for trading. In the pending Order Book, the status of such orders is shown as 'Accepted'.

Do I need to have money before buying of shares?

Yes. You need to have money in your Bank account duly allotted in favour of CBSL before placing an order. Alternatively if you have sold some shares, the sale proceeds can be used to buy the shares you want.

Can I go short?

Yes, you can go short in the 'Intra Day Trading (IDT)' or ‘Stop Loss Trading (SLT)’ provided you have allocated adequate margin. However, such Sell positions need to be Squired off before the specified time before the end of the day. You cannot go short under Cash and Carry (CNC). Here, you can sell only those shares which are in your demat account and allocated to CBSL for trading.

How will I be informed of my trade execution?

The trade executions are confirmed online and the Trade Log is updated immediately. Trade Log provides the complete details of executed trades. Further, digitally signed contract notes will be sent by email at the end of the day.

What is a contract note?

Contract note is a statement of confirmation of trade(s) done on a particular day for and on behalf of a client. A contract note is issued in the prescribed format and manner, establishing a legally enforceable relationship between the member (CBSL) and client in respect of the trades stated in that contract note. For Internet trading clients, the contract notes are digitally signed and sent to their email id.

Can I trade on margin?

You can trade on margin under our product called Intra Day Trading (IDT) and Stop Loss Trading (SLT) in the securities allowed under this product.

If I have purchased a share, do I have to take delivery?

Rolling Segment: You can choose to sell the share before the end of the trading session. However once the trading session is over you have to take delivery by paying for it.

T2T Segment: Settlement of securities will be done without any netting off of positions. If you have purchased and sold the shares in this segment you will have to give the delivery for sale and receive the delivery for purchases. You will not be permitted to settle the obligation on a net basis.

If I have sold some shares, can I use the cash projections therefrom to buy other shares?

Yes, If you have sold the shares under Cash and Carry (CNC) product by allocating the delivery from your demat account you will be able to use the cash projections therefrom to buy other shares.

If I have sold, do I have to give delivery of shares?

Rolling Segment: You can choose to buy the share before the end of trading session. However, once the trading session is over you have to give the delivery of shares from your Demat account. T2T Segment: Settlement of securities will be done without any netting off of positions. If you have sold shares so notified, you will have to mandatorily give delivery. Any purchases have to be separately paid for and delivery taken. Therefore, even after any subsequent purchase in the same settlement, the blocks on your DP balances will remain till settlement.

I buy a share, how will the payment be made and how will I get the shares?

The amount required for the pay-in of funds will be withdrawn at the end of the trading day from your Bank account. The shares will be transferred to your demat account with in 24 Hours of the pay-out from the exchange / clearing house.

I have bought some shares but shares have not come into my demat account?

The shares will be credited to your demat account upon payout from the exchange. Hence, you can expect the shares to come into your Demat account on Pay-Out of securities (i.e. T+2). It is possible that the shares may not have come from the exchange because of short delivery by the counter party. In this case, the exchange conducts an auction to buy the shares (to the extent delivered short by any broker) from the open market and the shares may be received on t+4 day. If the shares are not received in an auction also, the exchange charges penalty on the person liable to deliver the shares. You will suitably compensated and the consideration will be remitted to you as soon as it is received from the exchange.

I have sold some shares but the payment has not come into my bank account?

The amount will come into your bank account on settlement. Hence, generally you can expect the amount to get credited to your bank account on T+2.

I have bought some shares but they still have not come to demat account. Can I sell them?

You can sell the share using the Buy in Today Sell out Tomorrow (BITSOT) facility available. For further details refer to the FAQ on BITSOT.

What is a short delivery?

Short delivery refers to a situation where a client, who has sold certain shares during a settlement cycle, fails to deliver the shares to the member either fully or partly.

What is an auction?

An auction is a mechanism utilised by the exchange to fullfil its obligation towards the buying trading members. Thus, in case of a settlement, where the selling trading members have delivered short, the exchange purchases the requisite quantity from the market and gives them to the original buying member.

What happens if the shares are not bought in the auction?

If the shares could not be bought in the auction i.e. if the shares were not offered for sale in the auction, the Exchange squares up the transaction as per SEBI guidelines. The guideline in force stipulates that the transaction is squared up at the highest price on the respective Stock Exchange from the relevant trading period till the auction day or at 20% above the last available closing price on the respective Stock Exchange on the auction day, whichever is higher. The pay-in and pay-out of funds for auction square up is held along with the pay-out for the relevant auction.

What are derivatives?

Derivatives are legal financial contracts between two or more parties which derives its future value from one or more underlying asset.

What are the types of derivative contracts traded in NSE derivative segment?

Futures and Options are the two types of derivative contracts being traded in NSE F&O segment. Future is a financial contract to buy or sell the underlying asset at a specified price at a pre-determined future date. Options contracts are financial instruments that give the holder of the instrument the right but no obligation to buy or sell the underlying asset at a predetermined price on future date. An option can be a 'call' option or a 'put' option.

How can I trade in F&O segment with www.canmoney.in?

All clients who have opted for F&O segment of NSE are permitted to trade in F&O segment. However client needs to maintain adequate margin and provide for MTM loss for trading in F&O segment on a day to day basis..

What are the type contracts available at NSE and whether all contracts will be available for trading?

All the stocks and indices made available by NSE for trading in F&O can be traded through our portal. For each stock there are 3 months contracts available for trading i.e. near month, next month and far month. However, at www.canmoney.in , at any point of time, clients can trade in the current and next month F & O contracts only. Far month contracts are not made available for trading.

How much margin I need to pay to take a position in F&O segment?

Margin depends on volatility of the stock and margin requirements are stipulated by the exchange on day to day basis. Clients can see the margin requirement for the day in "Initial Margin" report.

Apart from stipulated margin, whether I need to maintain any additional funds on hold?

As www.canmoney.in does not insist on any kind of initial deposit from the client to initiate a position on the F&O segment, Company stipulated an additional margin of 20% of exchange specified SPAN and exposure margin. It is the sole responsibility of the client to maintain adequate amount on hold to take care of M2M (Mark to Market) loss happening during the trading session.

What is the course of action if my margin starts eroding due to M2M loss?

www.canmoney.in has its risk management system and gives adequate time and opportunity to clients to provide additional margin or square off the position to avoid further erosion of margin. Clients may note that it is sole responsibility of the client to continuously monitor his position for any M2M loss and hold adequate fund to cover the loss. The clients will be informed in advance on margin erosion beyond a limit as per the Risk Management policy of the Company.

In case client fails to bring additional margin, Company reserves the right either withdraw the amount equivalent to the shortfall amount from the client’s bank account or to square off the open position of the client as per the risk management policy of the company. Clients may note that the Company can take either of the actions or both of them at its discretion and the client shall not have a right to question this action under any circumstances.

What brokerage I need to pay for trading in F&O segment?

Brokerage charged will depend on the brokerage scheme selected by client. In case of FNO contract squared-off on the same day, brokerage will be charged only on single side (sale leg) of the contract, subject to a minimum of Rs.50/- in case of option contracts.

What is Cash and Carry (CNC)?

Cash and Carry (CNC) is the delivery based trading product under which the clients are allowed to trade on Capital Market segment of BSE and NSE.

How do I buy shares through my Canmoney Account?

As you know, a Canmoney 3 in 1 account consists of Trading Account with CBSL and a bank account and a demat account with CANARA Bank. You can log on to the on line broking portal canmoney.in and allocate the required amount of funds from your CBS account, in favour of CBSL. Once the allocation is completed you can buy shares based on the amount allocated.

How do I sell shares through my Canmoney Account?

You can log on to the on line broking portal "canmoney.in" and allocate the required quantity of securities from your Demat account, in favour of CBSL. Once the allocation is completed you can sell shares based on the securities allocated.

Can I buy securities against the proceeds of sales that I have done under CNC?

Yes. You can buy securities against the sale proceeds that you ought to receive from CBSL for a transaction under CNC.

What is the Margin on Sale transaction under CNC?

There is no margin for sale under CNC as you have already allocated the shares in favour of CBSL.

What is the Margin on Buy transaction under CNC?

You have to pay a margin equivalent to 100% of the amount of the value of securities to be purchased + estimated brokerage & other charges. Clients may note that this brokerage will not be the exact brokerage but is an estimated amount. Brokerage and other charges at actuals will be collected at the day end process.

Till what time can I trade under CNC?

You can trade during the market hours i.e. 9.00 am to 3.30 pm.

Can I place orders for future execution beyond the market timings?

Yes. Client can place AMO after the closure of the Trading hours.

When will the funds be withdrawn from my bank account for the purchases that I have made?

The funds will be withdrawn from your bank account on the trade day after the final funds pay-in obligation is generated. However, the blocking of funds to the extent of allocation done by you will be carried out immediately on allocation.

How will I receive the purchased shares in my demat account?

The Exchange gives a securities pay-out on T+2 day and you can expect the securities to be credited in your demat account on T+2 day. You can view / create hold / sell such a securities on T+3 day

When will the shares be withdrawn against my sale transactions?

The shares will be withdrawn from your demat account on the trade day after the final securities pay-in obligation is generated.

How will I receive the sales proceeds in my bank account?

The Exchange gives a funds pay-out on T+2 day and fund will be credited to your bank account on T+2 day after 8 P.M

What happens if the exchange does not give the shares pay out due to shortages?

The exchange carries out an auction session on T+3 day for the shortages. In case you have not received the shares on T+3 day you will receive it on T+5 day i.e. on day after the auction settlement takes place.

What happens if the exchange does not receive the shares in auction?

The exchange gives a close out for the securities and the buyer is adequately compensated under this mechanism.

Can i square off the position taken under cash and carry

Yes. In such a case brokerage shall be charge as applicable to intraday trades.

What is a leveraged product?

In a leveraged product, you take buy/sell positions in stock(s) with the intention of squaring off the position within the same day. If, during the course of the settlement cycle, the price moves in your favour (rises in case you have a buy position or falls in case you have a sell position), you make a profit. In case the price movement is adverse, you incur a loss. However, you also have the option to take/give delivery of buy/sell position respectively, if you have sufficient cash/securities to do so.

Normally to buy shares, you have to place (ensure availability of limit) 100% of the order value, while to sell shares, you need to have shares allotted from your demat account. With the help of leveraged products you can leverage on your trading limit by taking buy/sell positions much more than what you could have taken in cash segment. However, the risk profile of your transactions goes up.

How is leveraged trading different from delivery trading in Cash segment?

While buy/sell transactions in Cash Segment under Cash N Carry are settled by delivery, buy/sell transactions under the leveraged products are squared off unless converted into delivery. For example, when you place an order to buy 100 shares of Reliance in the cash segment, your intention is to pay for and receive the shares in your Demat Account. However, if the same order were to be placed under a leveraged product, your intention would be to sell those shares subsequently in the same settlement at a higher price and thereby make a profit on the same. However, if the price falls subsequently, there may be a loss.

Since a Cash N Carry trade is meant to be settled by delivery, the required cash or securities are blocked in full. For example, if you place an order to buy 100 shares of Reliance, 100% of the order value is blocked from your limit and if you place an order to sell 100 shares of Reliance, 100 shares of Reliance are blocked in your Demat Account. On the other hand, in a margin order, only a specified % of the order value is blocked from your limit. A sell order in the margin segment can be placed even without having any stock in demat account, provided sufficient limit is available. The most important thing to understand is that though you can leverage on your trading limit under these products, the risk profile of your transactions goes up substantially.

How do I convert my leveraged position into delivery (CNC)?

Project conversion facility is made available under net position menu. Client need to click on the client ID against respective scrip from converting the product. Product conversation order form will popup at the bottom of the screen with client has to submit. However before opting for product conversion, the client need to hold necessary founds / stocks from the bank / demat account

Can I convert my position in Cash Segment into Margin Positions?

Yes.

Can I convert my pending margin order into an Order for Cash Segment?

YES.

Is there any additional brokerage charged on leveraged positions converted to delivery?

Yes. All margin positions converted to delivery shall attract brokerage as applicable for delivery transactions.

When is the margin on leveraged positions released?

As soon as the margin position is closed out (either by squaring off or converting to delivery), the proportionate margin blocked on the position so squared off is released back and added to the limits.

How does 'conversion to delivery' impact limits?

On converting a 'Buy' position to delivery, additional amount is blocked from your limits to provide for 100% of the trade value of the converted quantity. On converting a 'Sell' position to delivery, the converted quantity is blocked in your Demat account. The limit increases on account of release of the margin blocked earlier on the 'Sell' position and further on account of 100% of the sale proceeds of the converted quantity.

What are the different kinds of leveraged products offered by CBSL?

CBSL offers two products under this roof:

1. Intra Day Trading (IDT)
2. Stop Loss Trading (SLT)

What is SLT?

SLT is an order placement feature where you can take a position at market price and also place a cover order for the position specifying the SLTP (Stop Loss Trigger Price) and the limit price. This will minimize the loss on the position. 'SLT' is a product whereby you can place a SLTP loss cover order at the time of taking the position itself. Thereby it gives a clear view of maximum downside involved in a particular position. Since you are committing to square up the position at a particular price, CBSL won't levy normal margin. It would block the maximum loss which you may suffer./p> What is fresh order?

The order which is placed for creating the position is called fresh order.

What is a cover order?

The fresh order as defined above will help you take a position. Assuming you have taken a buy position, your cover will naturally be a sell order. The cover order will be compulsorily have to be a SLTP order.

From where do I place the trigger orders?

Fresh order and cover order have to be placed from the same screen.

Can I place a limit fresh order?

No, fresh order is always a market order.

What is a Stop Loss order?

A Stop loss order allows the client to place an order which gets activated only when the market price of the relevant security reaches or crosses a threshold price specified by the investor in the form of 'Stop Loss Trigger Price'. When a stop loss trigger price (SLTP) is specified in a limit order, the order becomes one which is conditional on the market price of the stock crossing the specified SLTP. The order remains passive (i.e. not eligible for execution) till the condition is satisfied. Once the last traded price of the stock reaches or surpasses the SLTP, the order becomes activated (i.e. eligible for execution by being taken up in the matching process of the exchange) and then on behaves like a normal limit order. It is used as a tool to limit the maximum loss on a position.

Examples: Stop Loss Buy Order
'A' short sells Reliance shares at Rs 1750 in expectation that the price will fall. However, in the event the price rises above his buy price 'A' would like to limit his losses. 'A' may place a limit buy order specifying a Stop loss trigger price of Rs 1760 and a limit price of Rs 1765. The stop loss trigger price (SLTP) has to be between the last traded price and the buy limit price. Once the market price of Reliance breaches the SLTP i.e. Rs 1760, the order gets converted to a limit buy order at Rs 1765.

Stop Loss Sell Order
'A' buys Reliance at Rs 1750 in expectation that the price will rise. However, in the event the price falls, 'A' would like to limit his losses. 'A' may place a limit sell order specifying a Stop loss trigger price of Rs 1740 and a limit price of Rs 1735. The stop loss trigger price has to be between the limit price and the last traded price at the time of placing the stop loss order. Once the last traded price touches or crosses Rs. 1740, the order gets converted into a limit sell order at Rs. 1735.

Important
Please note that in a buy order the SLTP cannot be less than the last traded price. This is treated as a normal order because the condition that the last traded price should exceed the stop loss trigger price for a buy order is already satisfied. Similary, in case of a stop loss sell order the SLTP should not be greater than the last traded price for the same reason.

What are the details to be given to place a fresh order?

Following details should be provided to place a fresh order.

a. Position (Buy/Sell)
b. Stock
c. Quantity
d. Exchange
e. Price-Market

Are the fresh orders and cover order to be placed together?

Yes, both the orders are to be placed together.

Should the quantity of fresh and cover be the same?

Yes, the quantity needs to be the same.

What are the details to be given for a cover order?

The details to be entered for a cover order are

a. Quantity
b. Position
c. Exchange
d. Limit price
e. SLTP

The first 3 values would be automatically picked up from the Fresh order details.

Can I cancel the cover order?

No, cover order cannot be cancelled.

Can I modify the cover order?

Yes, you can modify the cover order subject to the Trigger conditions being fulfilled. You can even modify the cover order to a profit scenario. Assume you take a buy position for the fresh order of 1000 shares at current market price of Rs 100/-. Simultaneously you also place the sell (cover order) of 1000 shares as Limit price Rs 90/ and SLTP Rs 95/-. The above trigger condition is defined with a view to curtail losses. If subsequently the current market price shoots up to Rs 110/-. You can modify the order as below Limit price Rs 103/- SLTP Rs 108/-.

What is the margin that is charged on the fresh order?

Margin in case of fresh order is charged to the extent of maximum possible loss that you may incur.

Would the Margin be recalculated when the order gets executed?

Yes, at the time of order placement the current market price at that point of time is considered. It may happen that execution happens at a different price than the one at which limits have been blocked.

Would the margin be recalculated at the time of modification?

Yes, it is recalculated and excess amount, if any, will be released or additional margin needed will be blocked if you change the limit.

Is the difference % between trade price of Fresh order and Limit price of Cover order different for different stocks?

CBSL may define different percentage for different stocks depending upon the volatility and market conditions of the scrip.

What is the difference between limit price and SLTP price that can be specified for a cover order?

Depending on the stock volatility and market situation, CBSL would specify the minimum % difference between limit price and SLTP price that can be maintained for a particular stock. You can however specify a greater difference as well. Example: A 5% difference has to be maintained between the limit price and SLTP for ACC. You have taken a buy position (fresh order) for 1000 shares in ACC at Current price of Rs 100/-.You specify the sell order (Cover order) for 1000 shares in ACC at SLTP of Rs 95/-.Since this is a sell order the limit price would be lower than the SLTP. Limit price in this case can be Rs 90.25/- and below.

If any price between 90.25 and 95 is specified the order cannot be placed.

Will this gap not affect the investor adversely?

No, In case of SLT product CBSL would collect the difference between the trade price of the fresh order and limit price of the cover order which is the maximum loss amount. There is no margin on this. However, it may so happen that when the order gets triggered and gets converted to limit price, the orders may get executed at the best available price which would be at better than the limit price and would minimize the loss. Hence it is the SLTP price is important to be considered and not the gap between trade price of the fresh order and limit price of cover order. Let us the understand the concept in the below given

Example:
Given that a 5% difference has to be maintained between the limit price and SLTP price You have taken the buy position for 1000 shares in ACC at current price of Rs.100. You have specified the cover sell order with a SLTP price of Rs.95 and a limit price of 90. The difference amount collected would be (100-90)*100. Rs.10, 000/- In the above scenario, if the order gets triggered at Rs.95/-, it may so happen that order may get executed at Rs.92/- which would be the best price available. In such a case, the loss would be recalculated as (100-92)*1000 = Rs.8000/- which is lower than the maximum loss collected. The excess amount collected as loss for Rs 2000/- would be released back. Hence the client is no way affected by the gap between the trade price of fresh order and limit price of the cover order.

What is the difference between limit price and SLTP price that CBSL would specify for a cover order?

CBSL would define the difference depending upon the volatility of the scrip and the market conditions prevalent. This percentage could be revised by CBSL even during the day. Existing orders would be unaffected by the revision but however if the orders are modified the revised percentage would apply.

How does the concept of SLT work?

Example:
Assume you take a sell position for the fresh order of 1000 shares at current market price of Rs 100/-. Simultaneously you also place the buy (cover order) of 1000 shares as Limit price Rs 112/-.SLTP Rs 108/-. The above example can be analyzed as follows Apart from a minimum margin on the fresh order value, the maximum loss amount would be blocked on the fresh order as difference between current market price and limit price. (112-100)*1000= Rs 12, 000/-. The fresh order is a market order which will get executed at the market price available at that point of time. If the order gets executed as Rs 101/- Revised amount of Rs 1000/-would be released. The cover order would remain in the ordered state. Current market price rises- Position is making a loss: Once the current market price starts rising and reaches Rs 108/-, the cover order would be triggered to a limit order with price Rs 112/-.The order would get executed at the best prices available up to the limit price of Rs. 112/- Current market price falls- Position is making a profit: You can modify the buy order to a market or limit order with SLTP closer to the execution and close the position at a profit.

What happens to the open position created at the end of the day?

The open position would be squared off at market price by CBSL at the end of the day. In Case of SLT orders, all the positions created for the day are expected to be squared off by the customers before the market closes. In case, if the positions still remains open, CBSL would initiate the Square off process at market price for all the open positions.

Will there be any Mark to Market process like in Margin trading?

No. Since the feature of SLT cover order is available which also indicates the maximum downside involved in a particular position, there is no need of mark to market process.

Where do I view my open positions?

You can view your Open positions in Open SLT position page.

Can CBSL disable a scrip from SLT during the day?

Yes, CBSL can disable a scrip from SLT during the day.

What will happen to the SLT orders that I have placed in such disabled scrip's?

You will be unable place new orders in such scrip's. However you can modify the orders already placed. You cannot cancel such orders. To square off such orders modify it to a market order.

What would be the brokerage payable on these trades?

The Brokerage would be the normal brokerages that are charged for square up position.

What is Intra Day Trading (IDT)?

IDT is a leveraged product offered by CBSL. Under this product you can enter into square off transactions. Example: You have a margin of Rs 10000/- then under this product you can take an exposure of, say 10 times i.e. Rs. 100000/- (long or short).

Which securities can be traded under this product?

CBSL allows IDT in selected category of securities. As of now CBSL allows IDT in selelct “A” group Securities which are in F&O Segments of NSE. The said securities are subject to change from time to time.

What is the amount of margin required for IDT?

CBSL allows an exposure up to 10 times the available limit i.e. the margin rate is 10%.

What is the time for which I can trade under IDT?

The trading day is divided into 2 phases, based on time.

Phase I Open Phase:
This phase will be from 9.00 am to 3.10 pm. During this phase, the clients will be allowed to create fresh position as well as square off the positions taken during this phase. Clients are also allowed to convert product from CNC to IDT and vise versa

Phase II Compulsory Square off Mode:
In this phase all the open positions of the clients will be squared off by entry of an order opposite to the position that the client has at 3.10 pm under the IDT.

Do I have to allocate the securities for a sale transaction under IDT?

No, you do not have to allocate the securities as the trades are to be squared off before the end of market hours. However, you have to provide the required margin to CBSL for the sale transactions as well.

Do I have to compulsorily square up the trades under IDT?

Yes, you have to square up the trades under IDT. If you do not square up the trades then CBSL will square up the open positions at the pre determined time. However you have an option to transfer the trades under IDT to CNC provided you have allocated adequate funds in favour of CBSL.

How is my limit calculated?

The available limit is calculated as follows:

Funds/securities with CBSL, if any.
+ Funds/securities blocked or transferred during the day.
+ Value of Stock available with the Company after hair cut.
+ Value of the Sale proceeds for stocks sold in the delivery mode during the day.
- Exposures used as per various schemes.
- Mark to Market loss till that time under IDT or Stop Loss Trading.

What is Mark to Market Loss?

Mark to Market loss is the loss that you have suffered during the day on the open positions under IDT or (SLT).

Is the margin % uniform for all stocks?

It may not be so. Margin percentage may differ from stock to stock and based on the risk involved in the stock, which depends upon the liquidity and volatility of the respective stock besides the general market conditions. CBSL may at its discretion change the margin % from time to time.

What is meant by 'squaring off a position'? What is a cover order?

Squaring off a position means closing out a margin position. For example, if you have a margin buy position of 100 Reliance Shares', squaring off this position would mean selling 100 Reliance shares in the same settlement. The order placed for squaring off an open position is called a cover order. In the example, the order placed to sell 100 Reliance shares is a cover order against the open position - 'Bought 100 Reliance Shares'

Is margin blocked on all leveraged orders?

No. Margin is blocked only on leveraged orders, which are in the nature of building up fresh positions. Orders which are placed to square up existing open buy/sell position (called 'cover orders') shall not attract margin.

For example, You have a buy position (executed trade) of 100 shares in Reliance Industries. Now place a sell order for 100 shares in Reliance in margin. The sell order would not attract any margin, as it is in the nature of a cover order. However, if you place a sell order for 150 shares, the fresh component of the order i.e. 50 shares would attract margin at the applicable margin rate. Such orders are called 'partial cover order'.

Please note that cover order is recognized only against the executed open position and not against pending order. For example, if you have a pending buy order of 100 shares in Canara Bank and want to place a sell order of 100 shares in Canara Bank at a higher price, the sell order would not be recognized as a cover order and shall accordingly attract margin.

Is there any impact on the limit on execution of a buy/sale order in leveraged segment?

If it is an execution of a fresh order (i.e. an order which would result into building up an open position), the margin blocked gets appropriately adjusted for the difference, if any, in the order price at which the margin was blocked and the execution price. Accordingly the limits are adjusted for differential margin.

If it is an execution of a cover order (order which would result into square off of an existing open position in margin), the following impact would be factored into the limits:

a) Release of margin blocked on the open position so squared up.
b) Effect of profit & loss on the square off of such a transaction.

What is BITSOT?

BITSOT is a facility offered by CBSL wherein the customer will be able to sell the shares that he has purchased even before he receives the delivery of the shares from the Exchange. He will not have to wait till the time he receives the delivery from the Exchange thus increasing his liquidity.

Sale in BITSOT is permitted only on T+1 (and not on T+2 i.e. pay-in/pay-out date of the Exchange). In other words, BITSOT shall be permitted only up to the day prior to the scheduled payout of shares from the Exchange.

How does the customer place an order in BITSOT?

The customer can place an order in BITSOT by clicking on BITSOT menu and click on the sell Hyperlink. The rest of the details which are required to be filled up are similar to that of a normal sell order.

Can BITSOT facility be used even when the current settlement is going on?

BITSOT facility can be used only in case the settlement in which the shares have been purchased is over.

Which securities are available for BITSOT?

Currently all scrips which are not in T2T segment are available in BITSOT. CBSL at its sole discretion may are may not permitt BITSOT facility on any given day.

What will happen in case the delivery for shares sold by the customer is not received from the exchange?

BITSOT is a facility whereby the customers are being allowed to sell their shares against their receivable position in the same shares from the same Exchange. However, in case there is a short delivery from the Exchange for the earlier buy transaction, then the BITSOT customers will also be giving short delivery for their sell transaction. The Exchange would either give delivery of shares bought earlier through market auction or shall closeout the buy transactions as per the Exchange Regulations. However, this would not help the customer in meeting his sale delivery obligations already committed by him as even if he receives the shares bought earlier through auction settlement, by that time the securities pay-in date for his sell transaction would be over. In such case, the customer will have to face auction proceedings against his sale transaction and will have to bear the auction losses, auction penalties and any other incidental charges etc.

Exchange does not net off subsequent sell transaction against the previous buy transaction across the settlements and all the settlement obligations are settled settlement wise.

All cost and consequences of any auction arising out of such BITSOT sell transactions shall be fully borne by the Customer and CBSL would not be held responsible for any such short delivery received by the customer and the consequential impact thereof.

In case of short delivery, CBSL will reduce the limits of the customer to the extent of the likely auction amount. On receiving the actual auction amount from the Exchange the limits will be adjusted to reflect the same and the auction amount will be recovered from the customer.

What would be the brokerage applicable?

The brokerage rates will be the same as that are applicable for CNC trades.

Whether the shares will get credited in my demat account?

In case the customer sells shares under BITSOT facility, the securities bought by the customer in one settlement will be retained either partly or fully by CBSL in its demat account for the purpose of meeting the pay in obligation of the customer towards the securities sold by the customer in the subsequent settlement(s).

What are the products available and is there any difference in brokerage structure?

All products which are made available to the individuals and the brokerage structure are applicable for non-individuals. ( Refer products and services)

Documents to be signed by whom and how?

HUF account Karta should sign by affixing HUF seal
Proprietary account Proprietor should sign by affixing firms seal
Partnership firm/
Trust/Corporate bodies Signatory authorized by appropriate authority by affixing company seal

To whom login and trading password and TPIN will be dispatched?

Only to the person authorized by the appropriate authority in case of partnership firm, trust and corporate bodies and to Karta in case of HUF and to proprietor in case of proprietorship concern.

Any specific requirement in respect of documentation?

Yes, different entities are required to submit/execute the required documentation as applicable to the constituent.

What are Currency Derivatives (CD)?

Derivatives are legal financial contracts between two or more parties which derives its future value from one or more underlying asset. When the underlying is a currency exchange rate, then the contracts are termed as Currency Derivatives.

What are the types of currency derivative contracts traded in NSE CD segment?

As of now, only Currency Futures are being traded in NSE CD Segment

What are Currency Futures?

A futures contract is a standardized contract, traded on an exchange, to buy or sell a certain underlying asset or an instrument at a certain date in the future, at a specified price. When the underlying is an exchange rate, the contract is termed a "currency futures contract".

What are the type of contracts available at NSE and whether all contracts will be available for trading?

Presently NSE permits trading in USD INR, GBP INR, EUR INR and JPY INR contracts of upto 12 months maturity. The lot size for USD, GBP & EUR 1000 and for JPY it is 100000. All the contracts are available for trading. NSE also permits trading in spread contracts.

Whether an underlying obligation is needed to trade in CD segment?

No, one does not need to have any obligation (such as export receipt / import payment) for exchange traded futures as these futures are cash settled.

How can I trade in CD segment with www.canmoney.in?

All clients who have opted for CD segment of NSE are permitted to trade in CD segment. As this is a new line of business, our existing clients who have not opted earlier, need to mail their request to cds@canmoney.in or call our office for execution of the supplemental documents required to trade in this segment. Stamp charges of Rs.100/- is being charged per application. Client need to maintain adequate margin and provide for MTM loss for trading in CD segment on a day to day basis.

How much margin I need to pay to take a position in CDS segment?

Margin depends on volatility in the market. Margin requirements are stipulated by the Exchange on day to day basis. The margin roughly works out to 3.5 – 4.5 %, which is very much low when compared to F&O segment. For spread contracts lower margins are stipulated by the Exchange.

Apart from stipulated margin, whether I need to maintain any additional funds on hold?

Canara Bank Securities Limited (CBSL) does not insist on any kind of initial deposit from the client to initiate a position on the CDS. Hence, Company stipulates additional margin over and above Exchange stipulated margins.

What is the course of action if my margin starts eroding due to M2M loss?

CBSL has its risk management system and gives opportunity to clients to provide additional margin or square off the position to avoid further erosion of margin. Clients may note that it is sole responsibility of the client to continuously monitor his position for any M2M loss and hold adequate fund to cover the loss. The clients will be informed on margin erosion as per the Risk Management policy of the Company.

In case client fails to bring additional margin, Company reserves the right either to withdraw the amount equivalent to the shortfall amount from the client’s bank account or to square off the open position of the client as per the risk management policy of the company. Clients may note that the Company can take either of the actions or both of them at its discretion.

What brokerage I need to pay for trading in CDS segment?

Brokerage in CDS is competitively priced at Rs.15/- per lot for each leg of trade. Apart from the brokerage, other statutory charges are also to be borne by the client. In case of spread contracts, as 2 legs of trade is involved, brokerage of Rs.30/- shall be charged.

Whether the market timings of CD segment and Equity market segment are the same?

No. CD segment is open from 9.00 AM to 5.00 PM (Monday to Friday), Holidays for this segment shall be the same as prescribed by FEDAI (Foreign Exchange Dealers Association of India).

Whether Currency Futures can be traded online like other Cash and FNO segments?

Yes, through internet and through call center.

What is the settlement cycle in Currency Derivative Segment?

In CDS, settlement of trades take place on T + 1 basis and final settlement on T + 2 basis. Current month contract expires at 12.00 noon, 2 trading days prior to the last business day of the current month.

Investing in equity shares means purchasing the shares of a company listed on a stock exchange. There are two markets for this

Primary Market

When you have participated in the IPO of a company going to be listed on stock exchanges.

Secondary Market

When you have to buy shares via a stock exchange. When you trade in equity through a stock exchange, you have to make use of the services of a brokerage firm, which acts as your agent whenever you buy or sell.

Equity is considered a high risk-high return investment avenue. This is because there is scope for considerable appreciation or loss of the capital that you invest, depending on various factors such as the performance of the company that you have invested in, general market conditions, the state of the economy, etc. However, it forms an integral part of any well-balanced portfolio, since it is at one end of the risk-return spectrum.

Why Experts Say That Investing In Equity Is Right For Oneself?

Equity forms the part of any well-balanced portfolio. You must hold some portion of your assets in equity because it is the only instrument that has the ability to truly deliver a high return, when held over a long period of time.

However, the amount of equity that you hold in your portfolio is a very subjective decision and will depend upon various factors. These include your investment objectives, time horizon and risk appetite.

How Should One Decide Right Share, Right Price And Right Time Of Investment?

Equity investment requires certain amount of homework to be done:-

  • Short list the shares that you want to buy on the basis of your investment objective, risk profile and the stock’s fundamentals.
  • If you feel that the price of a stock is high, don’t purchase it. Buy stocks that you believe still have scope for appreciation.
  • Predefine the levels of entry & exit.
  • Don’t hesitate to liquidate your portfolio before your target time horizon if circumstances lead you to believe that it’s necessary.
How Is The Price Of The Stocks Determined?
Demand and Supply

When there are more buyers than sellers for a particular stock its demand rises and so does the price. When supply overtakes demand (that is, sellers exceed buyers), the stock loses value.

Future Growth potential

Buyers are willing to pay a premium for stocks of companies that have the potential to increase their revenues and net profits. The greater this growth potential, the higher the premium given to the stock.

How Do I Go About Investing In Equity?

For investing in equity, you need to open the following accounts:
- A trading /broking account with CBSL.
- A demat account with Canara Bank.
- A bank account with Canara bank for cash payments and receipts

How Canmoney Can Be Useful To Me?

Canmoney can be of immense use to you. It acts as a medium between your dreams of ideal investments in equity and mutual funds. It provides you the investment avenues, craved out by our experienced research team.

It provides you the direct access to NSE & BSE both on real time basis i.e. without any time leg with superior service and best technology available.

How safe are my user ID and password?

The generated user identity and password cannot be accessed through the Internet. Only our authorisation engine can access the user ID and password, and no one can manually or electronically access it. Also, the clients' user ID and password are encrypted while travelling through the Internet, as 128-bit encryption technology is in use.

This ensures that that no one can gain access to the information being shared by the client over the net. The 128-bit encryption encrypts every alphabet or number typed by the client on his/her computer while transacting at our site. Currently, 128-bit encryption is the strongest form of encryption available, and to date, there have been no reports of any hacking incidents through it.

What Are The Risks To Which One Is Exposed While Investing In Equity?

Return on equity is subjected to various risks that companies are exposed to like:-

These are business risks (the risks associated with the prosperity and continuity of a business), financial risks (financial soundness of a company), industry risk (changes in technology, regulations, fashions, etc., affect the performance of an industry), management risks (the level of corporate governance, management skills and vision), political, economic and exchange rate risks (these factors affect a company but are outside its control). There are other risks, such as market risks (the risk that the market will collapse, or that you have invested at the peak), which determine your returns on your equity investment.

What Do You Understand By Marked To Market (Mtm)?

MTM is the difference of the market price less yesterday's closing price.

What Do You Understand By Hedging?

A type of transaction that limits investment risk with the use of derivatives. Hedging is just a way of insuring an investment against risk. Hedger eliminates the price risk of physical material he owns by taking an offsetting position in futures market.

What Is Arbitrage? How Can We Make Money Through Arbitrage Opportunities?

A trading strategy that works on the principal of taking advantage of price differences of the same share or commodity, trading on different exchanges. It is the simultaneous sale and purchase of an equity or commodity in order to book a profit from a difference in the prices.

What Do You Understand By Speculation?

Speculating is taking a position based on expectations about whether prices will rise or fall in the future hoping to profit from the price change.

What Is 'Go Long'?

It means buying a commodity in anticipation that the price will go up.

What Is 'Go Short'?

It means selling a commodity in anticipation that the prices will come down.

What Is Stop Loss (Sl)?

Stop loss is the limit of loss that a buyer is putting willingly, if price movement of the stock moves adversely. By placing a stop loss order, Investor actually sets a loss level which he/she is willing to undertake.

How Is Income From Equity Investing Taxed?

No tax is applicable on the dividend receipts. However, one is required to pay short term capital gains tax on any short-term gains (i.e. gains trough selling the shares held for less than 12 months). The rate of tax payable on such gains is 11.22 per cent (10 per cent tax + 2 per cent education cess + 10 per cent surcharge, if applicable).

There is no tax on long-term capital gains (i.e. Shares held for more than one year).In addition, one has to pay Securities Transaction Tax (STT). The STT rate for delivery-based transactions is 0.125 per cent of the transaction value for both buyers and sellers. For non-delivery based transactions, STT of 0.025 per cent of the transaction value is payable.

What Is The Grievance Redressal Facility Available For Equity Investing?

If you have grievances against a listed company/ intermediary registered with SEBI, you should first approach the concerned company/ intermediary against whom you have a grievance. Then, if you are not satisfied with their response you can approach SEBI, who is the regulatory authority for such entities. SEBI takes up grievances related to issue and transfer of securities, non-payment of dividend, etc. with listed companies. In addition, this market regulator also takes up grievances against various intermediaries that are registered with it. Visit http://www.sebi.gov.in/ for more information.

DERIVATIVES
What Do You Mean By The Term 'Derivatives'?

Derivatives are the newly launched financial instruments, whose values are entirely "derived" from the values of the underlying assets. The underlying assets can be securities, commodities, bullion, currency, livestock etc.

Derivatives can be of several types like forward, future, option or any other hybrid contract of pre determined fixed duration, linked for the purpose of contract fulfillment to the value of a specified real or financial asset or to an index of securities.

As per Securities Contracts (Regulations) Act, The term Derivative has been defined as:-

  • a security derived from a debt instrument, share, loan, whether secured or unsecured, risk instrument or contract for differences or any other form of security;
  • a contract which derives its value from the prices, or index of prices, of underlying securities
What Do You Mean By The Term 'Futures Contract'?

Future contracts are the organized/standardized contracts in terms of quantity, quality (in case of commodities), delivery time and place for settlement on any date in future. The contract expires on a pre-specified date which is called the expiry date of the contract. On expiry, futures can be settled by delivery of the underlying asset or cash. Cash settlement enables the settlement of obligations arising out of the future/option contract in cash.

What Do You Mean By The Term 'Option Contract'?

An option contract is defined as "a promise which meets the requirements for the formation of a contract and limits the promisor's power to revoke an offer. The buyer / holder of the option purchases the right from the seller/writer for a consideration which is called the premium. The seller/writer of an option is obligated to settle the option as per the terms of the contract when the buyer/holder exercises his right. The underlying asset could include securities, an index of prices of securities etc.

Options are of two kinds

  • American options and
  • European options

An Option to buy is called Call option and option to sell is called Put option. Further, if an option that is exercisable on or before the expiry date is called American option and one that is exercisable only on expiry date, is called European option. The price at which the option is to be exercised is called Strike price or Exercise price.

Therefore, in the case of American options the buyer has the right to exercise the option at anytime on or before the expiry date. This request for exercise is submitted to the Exchange, which randomly assigns the exercise request to the sellers of the options, who are obligated to settle the terms of the contract within a specified time frame.

As in the case of futures contracts, option contracts can be also be settled by delivery of the underlying asset or cash. However, unlike futures cash settlement in option contract entails paying/receiving the difference between the strike price/exercise price and the price of the underlying asset either at the time of expiry of the contract or at the time of exercise / assignment of the option contract.

What Are Index Futures And Index Option Contracts?

When an Index becomes an underlying asset for a future derivative contract in place of any equity, commodity or currency, it is known as Index future Contracts. For example, futures contract on NIFTY Index and BSE-30 Index. These contracts derive their value from the value of the underlying index.

Similarly, the options contracts, which are based on some index, are known as Index options contract. However, unlike Index Futures, the buyer of Index Option Contracts has only the right but not the obligation to buy / sell the underlying index on expiry. Index Option Contracts are generally European Style options i.e. they can be exercised / assigned only on the expiry date.

By its very nature, index cannot be delivered on maturity of the Index futures or Index option contracts therefore, these contracts are essentially cash settled on Expiry.

What are Exchange Traded Funds?

An ETF is a basket of stocks that reflects the composition of an index, like S&P CNX Nifty or BSE Sensex. The ETF's trading value is based on the net asset value of the underlying stocks that it represents.

How is an ETF related to a mutual fund?

ETF’s are issued as UNITS by mutual funds. They derive their value from the value of the underlying stocks comprising the index. Therefore, their value moves in the same direction as that of the stocks comprised in the index against which the UNITS are benchmarked.

Some trading tips
  • Never try to fight a trend by taking positions against the prevailing trend.
  • Always take care of your losses and profit would take care of themselves.
  • Always book profit on reaching the targeted price. Keep track of your stocks and there is nothing wrong in buying a stock at slightly higher levels after having booked profit earlier.
  • Stop loss should be practiced religiously.
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