Clients are charged Delayed Payment Charges via their financial ledgers once at the end of each month based on their daily average debit balance across segments. The charge is 1.5% monthly or 18% annually.
These charges may happen due to the following major reasons
- Bill Not Settled by T+2- If you have utilized funds higher than the amount available in your account, and therefore PL has met your bill with the exchanges on T+2
- Overutilisation of collateral – Exchanges ask for margins to compulsorily come in the form of minimum 50% cash and the remaining 50% can be in the form of approved collateral. So while you may get limits against your collateral, we may charge you interest on the difference between 50% cash and your actual cash balance as that has been funded by us. This includes overnight positions as well as Mark to Market margins which are required to be collected only in the form of cash.