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 (Margin call)

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 call)

There are certain criteria for transfer of fund from Member Deposit Account to segregated account which are as follows:

• 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 entertained.
• 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 transfer request:

1. 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.
2. 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 department.
3. 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.
4. 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.