Mumbai: From July 1, 2025, new rules will apply for reporting shortfalls in client collateral. Clearing and trading members must now report the reasons behind the shortfall using an updated format.
Earlier, only one reason could be reported for each record. Now, members can give more than one reason for the same record using different codes. The system will add up the amounts from all valid records.
Also, if a member uploads the same record more than once, the latest version will replace the earlier one. All uploaded files will be checked for errors. Members will receive a response file telling whether the data was accepted or rejected.
The reporting format has been updated. A new column called "Collateral Available" has been added. This will show how much collateral the member actually has for the reported reason code.
There are 3 types of files involved:
Short Allocation Report: Shows client-level shortfall.
Member Upload File: Where members report the reasons and available collateral.
Response File: Sent back to members to confirm whether the upload was successful or not.
Files must be in CSV format. Members should not change the original shortfall data while giving reasons. Common errors include wrong codes, totals not matching, or zero values.
Testing for these changes is available in the UAT (test) environment using existing login details. Members can test their files before July 1.
If members need help, they can write to: iccl.membership@icclindia.com
