Swell Investment carries out its accounting operation within a systematic manner. Members are required to maintain
journal, ledgers and cash book for all the entries related to exchange. They
are required to maintain a register for journals. However for cash book and
ledger, it can be maintained electronically. They are also required to maintain
purchase and sales book.
Fund updating Procedure
During margin call, the
clients are allowed to deposit the margin amount only through cheque/ DD or
through online transfer.
- For Adding Margin by cheque/ DD, the clients can make
deposits with the same client code followed by his name filled at the,
DEPOSTITED BY: column in the Bank deposit slip.
- For online transfer, the client should mention his
Client Code as well as his full name in Description/Narration box and his
name should match with the client profile.
Note: When depositing /
adding margin the client cannot deposit the third party cheque in NCMs segregated
a/c and neither the client are allowed to deposit it in cash.
All the fund remittances by the
clients, NCMs and CMs shall only be via Cheque, Demand Draft and “Internet”
transfer compulsorily. No CASH DEPOSITS will be entertained at all times and at
all levels, Clients, NCMs & CMs.
Fund transfer procedure (Margin
There are certain criteria for
transfer of fund from Member Deposit Account to segregated account which are as
- The fund in Member deposit account can only be utilized
during margin calls for transferring to segregated account under emergency
situation like non availability of “Internet” banking from bank or if
there is a bank holiday or any other emergency situation.
- Members can only use maximum 100% of the funds
available in his Member Deposit account.
- Request for fund transfer should be minimum 10% of the
initial margins of the products. Request less than that shall not be
- The timing to be followed for fund transfer in the case
of cheque deposit shall be only within the banking hour.
Steps to be followed for fund
- On the client’s request, with the approval of the
clearing member, the NCM is allowed to make a request for fund transfer
from member deposit account to segregated account in the format prescribed
by the exchange.
- The request needs to be faxed or scanned to CM and the
CM shall fax or scanned the same with their approval to CFX accounts
- On confirmation and basing on the request, the funds
for the requested client will be updated in their trading terminal and in
the next available business hour when the I banking of the bank is
accessible, the requested fund transfer by NCM from Member deposit account
to segregated account shall be transferred by CFX accounts.
- The depleted amount then needs to be recouped by the
member in their Member Deposit account by next working day prior 4.00 pm.
If not updated in the stipulated
time, the member shall be treated as a defaulter and no further fund transfer
request will be entertained.