MIS Features and Terms & Conditions (Non-Commodity)
Trading is allowed only in the Equity segment of NSE & BSE in approximately 150 scrips.
No orders will be processed under this product after 15:11 hours.
Note This product is not suitable for all kinds of investors. You are requested to take an informed decision based on your risk profile before executing trades under this product.
Trades executed under this product will be squared off either after 15:11 hours or in case of erosion of margin blocked, by approximately 70%, whichever is earlier.
Leverage: Currently, 10 times leverage is allowed on available margin. Espresso reserves the right to modify leverage from time to time without any prior intimation, based on prevailing market conditions.
Settlement: Positions created through this product are compulsorily settled on Intraday trades only. No option is available to carry forward the positions taken through the product, provided you apply from the Conversion facility.
Conversion Facility: Margin to CNC is a facility introduced in MIS whereby a client can convert his open MIS position into Delivery before risk square off or auto square off is done in MIS.
- Buy MIS position can be converted into Delivery only if the client has sufficient additional margin required for the position.
- Sell MIS position can be converted into Delivery only if the client has sufficient shares lying in demat/margin account.
- Conversion window will be open till 3:11 PM; that is, before the MIS order window is closed.
- In case of partial conversion to Delivery, the balance open position in MIS will be squared off as done currently.
- Conversion facility is currently available on the Espresso website, mobile app and desktop app. However, Espresso has the right to enable and disable this facility without prior intimation to customers.
Closure of Positions:
- By Client: Client can close positions before 15:11 hours by placing reverse order using the same product.
- By Espresso: Erosion of margin blocked (as per the average price) by more than 70% in script in which position is created will trigger compulsory square off of that scrip only, irrespective of MTM in any other position created using this product. Failure to close the positions before 15:11 hours will lead to auto square off by Espresso at prevailing market rates. All orders kept pending, whether normal or stop-loss will be cancelled by the system at 15:11 hours.
Non Closure of Position: Espresso does not guarantee that the order placed for square off shall be executed. In case the positions are not squared off for any reasons beyond the control of Espresso (such as price band, technical issues and so on), the same shall be converted into Delivery. In the event of non-closure as mentioned above, further margin should be remitted, and in case there is a failure to remit the additional margin, Espresso reserves the right to square off the excess position taken.
MIS Features and Terms & Conditions for the Commodity Segment
Trading is allowed only in the MCX segment in approved scrips.
No orders will be processed under this product after 10:50 hours.
Note This product is not suitable for all kinds of investors. You are requested to take an informed decision based on your risk profile before executing trades under this product.
Trades executed under this product will be squared off either after 10:50 hours or in case of erosion of margin blocked by approximately 75%, whichever is earlier.
Leverage: Espresso reserves the right to modify leverage from time to time without any prior intimation, based on prevailing market conditions.
Settlement: Positions created through this product are compulsorily settled on Intraday trades only. No option is available to carry forward the positions taken through the product.
Closure of Positions:
- By Client: Client can close positions before 10:50 hours by placing reverse order using the same product.
- By Espresso: Erosion of margin blocked (as per the average price) by more than 75% in a scrip in which the position is created will trigger compulsory square off of that scrip/position and the order would be pushed to the Exchange at the best available price at that particular moment, irrespective of MTM in any other position created using this product. Failure to close positions before 10:50 hours would lead to auto square off by Espresso at prevailing market rates at the time of order placement. All orders kept pending, whether normal or stop-loss would be cancelled by the system from 10:50 hours onwards.
Non Closure of Position: Espresso does not guarantee that the order placed for square off shall be executed. In case the positions are not squared off for any reasons beyond the control of Espresso (such as price band, technical issues and so on), the same shall be converted into Delivery. In the event of non-closure as mentioned above, further margin should be remitted, and in case there is a failure to remit the additional margin, Espresso reserves the right to square off the excess position taken.
I confirm that I/we have read and understood the Risk Disclosure Documents and the risks associated while trading in stock markets and have gone through the Rights and Obligations applicable to Stock Brokers and Depositories and the Dos and Don’ts and confirm to abide by the same at all times.
Registered Office: Sharekhan Comtrade Private Limited, Lodha iThink Techno Campus, 10th Floor, Beta Building, Off JVLR, Opp. Kanjurmarg Railway Station, Kanjurmarg (East), Mumbai – 400 042, Maharashtra. Tel: 022 6115 0000. Fax: 022 6748 1899 Sharekhan Comtrade Private Limited: SEBI Regn. Nos.: BSE / NSE / MSEI (CASH / F&O / CD) / MCX – Commodity: INZ000041331; CIN No. U65100MH2015PTC269036 DP: CDSL-DP-451-2020; NSE Member ID – 90194; BSE Member ID – 6732; MCX Member ID – 55400 For any complaints, email at igc@myespresso.com
Compliance Officer: Mr. Jigar Mahesh Pandit. Email ID: compliance@myespresso.com | Tel: 022 6750 2000
Disclaimer: Investment in securities market are subject to market risks, read all the related documents carefully before investing. Please refer the Risk Disclosure Document issued by SEBI and go through the Rights and Obligations and Do’s and Dont’s issued by Stock Exchanges and Depositories and the T&C on www.myespresso.com before trading on the Stock Exchanges.