As we continue to unbundle the entire brokerage model, we aim to solve another problem that many clients were facing.
That is clients not being able to leverage their stock holdings!
With SAMCO IntraPlus, clients can get margins against shares up to 90% of value (after haircut) against securities (shares & ETF’s) owned by them to trade Intraday in the NSE EQ, FO & CDS along with the BSE EQ segment.
And there are three things that make SAMCO IntraPlus unique:
- The ability to sell pledged stocks in real time – You can sell pledged stocks in real time, no need to unpledge them first and then sell. This makes sure that you can cash out of your positions anytime if you want to in real time without having to wait for stock to be available in your account.
- Zero Cash Balance Required and No Cash Collateral Ratio to be maintained. Trade with NIL Cash balance in your trading account. This makes IntraPlus a Zero Balance Trading account in the truest form.
- You can trade against collateral margins even for trading options. Most brokers restrict purchase of options however, that’s not the case with SAMCO IntraPlus.
So how do you start trading with SAMCO IntraPlus?
- Login to the SAMCO Star Back Office & subscribe to IntraPlus. There is an annual fee of Rs.1,000 plus Service Tax to use IntraPlus. It is mandatory to accept the Terms & Conditions before subscribing.
- Calculate the margins you can avail against your holdings with the IntraPlus Intraday Calculator.
- Pledge the stocks you wish avail margins against. Trade with the limits against shares using the MIS product type.
Note: You cannot pledge or unpledge shares between 4 PM & 7 PM. Margins will be made available on the next trading day in case of pledge requests made before 4 PM & on the day after in case of pledge requests made after 7 PM.
Illustration: Client makes a pledge request on Monday at 12 PM, and can avail margins on Tuesday. In case the client makes a pledge request on 7 PM on Monday, he will get margins only on Wednesday.
In case of Call-N-Trade orders, kindly inform the dealer that you are using the IntraPlus & place an order using the MIS order code.
In case you place an order with the CO,BO, NRML or CNC order types, the margins will be blocked from your Cash balance.
Please note that IntraPlus is a product to facilitate Intraday trading and not positional trading. We will complete the bouquet of Plus series of products with our third offering with shall enable positional trading limits against collateral as well. More details on that – to be announced soon..
Effects of All Corporate Actions on pledged stocks such as Dividends, Splits, Bonus shares etc. shall accrue to the client, i.e. You.
- Convert IntraPlus position to CashPlus position in the Equity Segment: Convert the MIS order type to NRML type using the Position Conversion window.
- Convert IntraPlus position to Delivery Holding position: Convert the MIS order type to CNC order type using the position conversion window.
- Convert IntraPlus position to Carry forward position in the Derivatives Segment: Convert the MIS order type to NRML order type using the position conversion window.
Note: You can convert positions only if you have adequate cash margins available.
Haircut is the amount by which the value of your stocks is deducted for the purpose of calculating the value collateral & limits. You can view the approved list of securities & the applicable haircut on the IntraPlus page. We have a total of over 800 securities eligible for pledging.
SAMCO IntraPlus is a zero percentage brokerage account. Brokerage will continue as usual for intraday trading i.e. lower of Rs.20 or 0.02%.
There is a charge of Rs.60 plus Service Tax for every scrip you wish to pledge or un-pledge.
A charge of 0.05% per day every day on the Debit Balance in your account will be levied. No charges will be levied in case of Zero Balances or Credit Balances.
Margin Calls & SAMCO Risk Management Policies
Clients will be informed of margin shortfalls by SMS & E-Mails. They are advised to maintain adequate margins to avoid liquidation of positions and invocation of collateral by SAMCO. You should refer to the terms and conditions of the IntraPlus product before you sign up and begin using the same.
Since the Product type for IntraPlus shall be MIS, the SAMCO RMS team will square off any open positions taken with IntraPlus at 03:15 PM of T-Day for NSE EQ, NSE FO & BSE EQ & at 04:45 for NSE CDS segments.
You can refer to the FAQ’s on IntraPlus in case of any questions on how the product works.