What is unique about the ICICI Direct e-Invest account?

The ICICI Direct e-Invest account is more than just a trading account. It offers a unique 3-in-1 feature that seamlessly integrates your trading account, savings bank account, and demat account. This integration simplifies the entire investment process — from placing orders to settlements — by enabling automatic fund transfers and share movements with no paperwork. With this setup, online investing becomes smooth, convenient, and hassle-free.

What is the 3-IN-1 concept?

The 3-in-1 account combines your ICICI Direct trading account, ICICI Bank savings account, and ICICI Bank demat account. For this integration to work, both the savings and demat accounts must be opened with ICICI Bank. You may choose any ICICI Bank branch convenient to you for opening your bank account.

Can I have multiple demat accounts linked to my e-Invest account?

Yes, you can link up to four demat accounts to your e-Invest account. However, four is the maximum number of demat accounts that can be linked at a time.

Can I have multiple Bank accounts linked to my e-invest account?

No, currently you can link only one bank account to your e-Invest account.

What if I already have a demat or bank account with another bank or depository?

To benefit from the 3-in-1 account integration, your trading, bank, and demat accounts must all be held with ICICI Group. Accounts held with other banks or depositories cannot be linked for this service.

Who is eligible for this service?

All resident Indians, as well as Non-Resident Indians (NRIs) residing in Gulf Cooperation Council (GCC) countries — including the United Arab Emirates, Saudi Arabia, Bahrain, Kuwait, Oman, and Qatar — are eligible to avail this service.

How do I become an ICICIdirect customer?

You can open an ICICI Direct 3-in-1 account online by visiting the ICICI Direct website or through the mobile app.

How do I request an account opening form?

You can request a visit from our representative (available in Select Cities) by registering online through our website. Alternatively, you may:

• Visit any ICICI Bank branch or centre where our representatives can assist you.


• Email us at helpdesk@icicidirect.com and our Customer Service Executive (CSE) will contact you to help complete the account opening process.

I have submitted my application. What happens next?

Your application will be reviewed, and you will be notified once it is accepted and your accounts are activated. If there are any missing or incorrect details, our representative will contact you via call or email to complete the process.

How do I know if my application has been accepted?

You can track your application status by visiting the “Know Your Account Status” section under the Customer Service page on www.icicidirect.com. You will also receive an email confirmation once your account has been successfully opened.

Do I need to maintain a minimum balance in my bank account?

Yes, the Monthly Average Balance (MAB) requirement will depend on the specific savings account variant you open with ICICI Bank.

What documents will I receive once my ICICI Direct account is opened?

Once your account is successfully opened, you will receive the following:

• A PIN mailer containing your user ID and password for ICICIdirect, sent by ICICI Securities Ltd


• A cheque book and ATM-cum-Debit Card (if a new savings account was opened), sent by ICICI Bank Ltd.


• A Membership Guide and internet banking credentials for your demat account, sent by ICICI Bank Demat Services

Note: The Transfer Instruction Delivery Booklet (TIDB) will be sent to your registered address.

When is a trading account termed as ‘Inactive’ or ‘Dormant’?

A trading account is considered inactive or dormant if no trades are placed across any exchange or segment for a period of one year. ICICI Direct does not freeze such accounts; however, any new trade initiated from an inactive or dormant account will be subject to additional due diligence and verification, as deemed necessary by ICICI Direct.

Customers are notified via email when their account is marked inactive. If no action is taken within the specified timeframe, the account may be temporarily suspended.

If I already have an ICICI Bank account and an ICICI Demat account, can I use them for online investing?

Yes, you can use your existing ICICI Bank and ICICI Demat accounts for trading. All fund transactions will be debited from or credited to the bank account linked to your ICICIdirect trading account.

What type of Bank Account can I use with my e-invest account?

You will need a savings bank account with ICICI Bank. This account must be linked to your e-Invest account. If you don’t already have an ICICI Bank account, a new online savings account will be opened for you as part of the e-Invest account setup.

How frequently can I check the status of my accounts?

You can access the status and details of your bank, demat, and e-Invest accounts online 24/7 through the ICICIdirect platform. All trade-related updates and order information are available in real time. Trade outcomes will also reflect in your linked bank and demat accounts on T+1 working day, eliminating the need to wait for statements.

What is an ICICI Bank Online Banking account?

ICICI Bank’s online banking service is called Infinity. When you open an ICICI Direct e-Invest account, a linked ICICI Bank savings account is also opened, which is compatible with the Infinity platform.

You can access Infinity via www.icicibank.com using a secure login ID and password. It allows you to view your account balance, transaction history, transfer funds, and make online bill payments.

If you've opened a new bank account or linked an existing account not registered with Infinity, your login credentials will be sent to you separately. However, this will not impact your ability to trade on ICICI Direct.

I am a new customer and have just been informed that my ICICI Direct e-Invest account is active. How do I place my first trade?

You can begin by learning how to trade through these resources:

• ICICI Direct iLearn Portal


• All Videos


• Knowledge Center

I want to buy some shares, but I don’t have money in my bank account. What should I do?

You need to first deposit funds into your ICICI Bank account. You can do this by:

• Depositing cash or a cheque using a pay-in slip


• If depositing a cheque, wait for it to clear before proceeding.

I’ve deposited a cheque but still can’t place a purchase order. Why?

There could be two reasons:

1. The cheque hasn’t cleared yet. Please check with your ICICI Bank branch to confirm the clearance status.

2. You haven’t allocated funds for trading. Even if the funds are available in your account, they need to be explicitly allocated for trading or investment on ICICIdirect.

Can I withdraw the amount allocated for trading?

Yes, just as you can allocate funds for trading, you can also reduce the allocated amount — provided it hasn’t been blocked due to any pending orders. Once funds are deallocated, they can be withdrawn from your linked ICICI Bank account.

Can I borrow or get a line of credit against my Demat Account?

Currently, this service is not offered. However, we are actively exploring such features. Your feedback on this requirement is welcome and will help shape future offerings.

On which exchanges can I buy and sell shares?

ICICI Direct provides execution capabilities on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).

What kind of orders can I place?

You can place two types of orders:

• Limit Order: You specify the maximum price you are willing to pay for a buy order, or the minimum price you are willing to accept for a sell order. The trade will only be executed if the market reaches your specified price or better.


• Market Order: This order executes at the best available price in the market at the time of placement. It typically has a higher chance of execution. Market orders can only be placed during exchange trading hours.

Which shares can I buy and sell?

You can trade shares listed in the Cash Segment that are in compulsory dematerialised form on NSE and BSE. The list of eligible stocks is updated regularly based on regulatory guidelines.

Additionally, select stocks are available for trading in the Margin Segment as well.

Will I get online confirmation of orders and trades?

Yes, all orders and trades are confirmed online in real time. Once you place an order, it is validated and sent to the exchange without any manual intervention.

You can track the status in the Order Book. At the end of the trading day, you will receive:

• An email confirmation of your trades


• Digitally signed contract notes via email


• Access to contract notes under:
  Login >> Stocks >> Reports >> Digital Contract Note

Is it guaranteed that an order will be executed in full or at one price?

No. Execution depends on market conditions:

• A limit order may remain unexecuted if there are no matching bids or offers at your specified price


• Partial executions are possible. The remaining quantity becomes a new order for the balance.


• Each executed portion could happen at a different price, especially in fast-moving markets.

• If no matching orders exist, the unexecuted quantity is automatically converted into a limit order at the last traded price.


• If the last trade happened at ₹100, and only 40 out of 100 shares were sold, the remaining 60 will be converted into a limit order at ₹100.


• If the last execution occurred at ₹95, then the limit for the remaining order will be ₹95.

Can I modify my order?

Yes, you can modify your order any time before it is executed. To do this, go to the Order Book on ICICI Direct and click the ‘Modify’ link next to the relevant order.

However, you cannot modify an order while it is queued with the exchange (i.e. when confirmation is pending). If the order is partially executed, only the unexecuted portion can be modified.

Can I cancel my order?

Yes, you can cancel any order that hasn’t been executed yet. Visit the Order Book and click the ‘Cancel’ link next to the order you wish to cancel. If the order is already partially executed, only the unexecuted portion can be cancelled.

Can I place orders after trading hours? What happens to them?

Yes, you can place limit orders after trading hours. These are queued in the system and sent to the exchange when the market reopens (either in the pre-open or normal trading session). The order status will show as ‘Requested’ in your Order Book until it's sent to the exchange.

Do I need funds before placing a buy order?

Yes, you must have sufficient funds in your linked ICICI Bank account before placing a buy order. Alternatively, if you've sold shares, you can use the sale proceeds to buy other shares.

Can I go short?

Yes, short selling is allowed in the Margin Product. However, short positions must be squared off before the specified time on the same trading day. You cannot short sell under the Cash Product, where you may only sell shares that are available in your demat account.

How will I be informed of my trade execution?

Trade executions are confirmed online in real time. You can view order status in the Order Book, where it updates to ‘Executed’ or ‘Part Executed’ accordingly. Details of executed trades are also available in the Trade Book by clicking the relevant Order Reference Number.

Additionally, you will:

• Receive an email confirmation


• Get a digitally signed contract note at the end of the day


• Be able to download your notes under:
  Login >> Stocks >> Reports >> Digital Contract Note

You can choose to receive trade confirmations either per trade or consolidated at the end of the day.

What is a contract note?

A contract note is a legally valid confirmation of the trades executed on your behalf during a trading day. It includes trade details in the prescribed format and is shared in duplicate — one copy for you and one for the broker. This document formalises the trade between you and the brokerage.

Can I trade on margin?

Yes, margin trading is available on select stocks. You can use this facility to buy or sell shares with partial capital upfront, subject to eligibility and risk profiling.

What is a Disclose Quantity (DQ) order?

A Disclosed Quantity (DQ) order allows you to show only part of your total order quantity to the market at a time.

For example:
If you place an order to sell 1,000 shares with a DQ of 200, only 200 will be visible to the market initially. Once that’s traded, the next 200 will be revealed, and so on.

• On NSE, DQ must be at least 10% of the total order but less than the full order quantity.



• On BSE, the DQ must be at least 10% or 1,000 shares, whichever is lower, and also less than the full order quantity.

What are price bands?

Exchanges define price bands to limit how much a stock can move in a single trading day.

• Most stocks can move within a band of ±20% from the previous day’s closing price.


• Stocks under derivatives or with high volatility may have tighter bands like ±5% or ±10%.


• Orders placed outside the permitted range are rejected by the exchange system.

Why am I unable to place certain orders or perform certain actions in this product?

Certain orders and actions have been restricted to comply with regulatory norms related to securities settlement. As per SEBI guidelines, netting off of trades has become mandatory, which limits some order types and actions.

To view the full list of restricted features, please refer to the detailed guidelines on the ICICIdirect platform click here..

What is Buy Today Sell Tomorrow® (BTST®) ?

Buy Today Sell Tomorrow® (BTST®) is a facility that allows you to sell shares even before they are credited to your demat account. This means you don’t have to wait for the standard settlement (T+1) to complete.
With BTST®, you gain early liquidity as you can exit the position on the same or next trading day without waiting for delivery from the exchange.

How can I place a BTST®order ?

To place a BTST®order:

1. Go to the Security Projections page on ICICIdirect.
2. Click the BTST® Sell hyperlink next to the relevant stock.
3.Fill in the order details, similar to a normal cash sell order

Can I place a BTST® order through the normal Cash Sell order entry page?

Yes, you can place a BTST® order using the Cash Sell order entry page. However, if the order quantity exceeds your total available quantity (i.e. day’s buy quantity + demat allocation), the system will automatically split your order into two parts — regular sell and BTST®sell.
Example:
Let's say:

• Day buy quantity for ACC = 10


• Demat allocation quantity for ACC = 20


• Total BTST® eligible quantity = 30


Case 1: Placing a Cash Sell order for 45 shares on NSE:

The system will automatically break the order as follows:


• 30 shares (Day Buy + Demat Allocation) – placed as a normal sell order on NSE


• 15 shares – placed as a BTST® sell order on NSE

Case 2: Placing a Cash Sell order for 45 shares on BSE:

The system will break it into:


• 30 shares (Day Buy + Demat Allocation) – normal sell order on BSE


• 15 shares – BTST® sell order on BSE

• The order quantity is added to the Blocked Quantity


• The Available Quantity is reduced accordingly
You can continue placing additional BTST® or normal sell orders up to the available quantity

• During the day: BTST® quantity is shown as both blocked and adjusted against same-day transactions


• After EOD: Your holdings and limits are updated to reflect netting outcomes


Despite interim display changes, you can place cash sell orders up to the net bought quantity during the trading day.

• Low liquidity


• Exchange surveillance lists (e.g., GSM)


• Stocks linked to suspicious messaging activity (e.g., fake SMS scrips)


ICICI Direct reserves the right to modify this list at its discretion.

• The exchange may deliver shares via auction or may close out your buy trade.


• However, by the time the auction is processed, your sell-side settlement may already be due.


• In this case, you will be liable for auction penalties, losses, and other incidental charges.


• ICICI Direct will not be responsible for short deliveries from the exchange or any resulting impact.


• Your cash limits will be reduced temporarily to cover the potential auction loss. These limits will be adjusted once actual auction proceeds are known.

• A shortfall from the clearing corporation


• An invalid or dormant mapped demat account

Example:

You buy 100 shares on Monday. If a shortfall occurs on Tuesday (settlement day), and you receive only 40 shares via auction on Wednesday:

• 40 shares will appear in your demat holdings


• For the remaining 60 shares, funds will be credited once received as part of a close-out

• Your cash limit will be blocked equal to the value of the sell trade plus a 20% markup, regardless of your available limit.


• On T+2, shares will either be received through auction or funds will be credited for the shortfall.

• ₹12,600 (105 × 100 + 20%) is blocked


• On T+2, if 40 shares are received via auction, the rest (60 shares) are settled via fund credit (e.g., 60 × ₹107 = ₹6,420)

• BTST® sell quantity will be adjusted against both auction delivery and your existing holdings


• The remaining shares will be deducted from your demat holdings


• Funds for the shortfall portion will be credited after the close-out

• On T+2, if you receive 40 shares via auction, they are adjusted against the BTST sell


• The remaining 60 shares are deducted from your existing 1,000-share holding


• Updated holding = 940 shares


• Close-out amount for 60 shares will be credited to your account

• Enter the total demat balance quantity as pre-populated.


• The difference between the unallocated (free) quantity and the previous day’s buy quantity will be auto-allocated.


• If the scrip is BTST-enabled, shares bought the previous day can be sold.

• For Cash Sell, place the order via the Place Order or Demat Holdings page.


• For BTST® Sell, use the Securities Projection (BTST) page.

Example:

• You have 100 free shares and bought 40 more yesterday.


• On the next day, you can allocate 60 shares and place a Cash Sell order, while the remaining 40 can be sold via BTST®

• You bought 100 shares earlier, and 40 shares yesterday.


• On T+2, 100 shares get auto-allocated.


• You can now:


• Place a Cash Sell order for 100 shares


• Place a BTST® Sell order for 40 shares

What is a settlement cycle?

The settlement cycle is T+1, which means trades are settled one business day after the trade date.

If I have purchased a share, do I have to take delivery?

• Rolling Segment: You may sell the share before the end of the settlement cycle. However, if you hold it beyond the cycle, you must take delivery by paying for it.


• TT Segment: Settlement is done without netting off positions. If you purchase shares, you must mandatorily take delivery. Selling the same shares in the same settlement is not allowed.

If I have sold some shares, can I use the cash projections from the sale to buy other shares?

Settlement of funds is done on a net basis for each segment:

• Cash from sale of TT Segment stock can be used only to buy TT Segment stocks.


• Cash from sale of Rolling Segment stock can be used only to buy Rolling Segment stocks.


• No cross-usage is allowed between TT and Rolling segments in the same settlement.

Why is part of my sell trade value for Cash product transactions being withheld for the day?

As per SEBI regulations, 20% of the sell value is required as upfront margin. Hence, only 80% of the sell value is made available for fresh trades on the same day, and the withheld 20% is released after market hours for the next trade date.

• If the sell trade follows a buy trade (same stock, same exchange, same quantity): The transaction is treated as intraday (except BTST and CTD sells), and no margin is withheld.


• If the sell trade is done first, then a buy trade: The sell is treated as a delivery transaction, and 20% margin is withheld.


• BTST Transactions:


○ T+1 day in T+2 settled stocks: 40% of the sell value is withheld. Half of this (20%) is released at EOD on T+1, and the rest on T+2.

○ T+2 day in T+2 settled stocks or T+1 day in T+1 settled stocks: 20% of the sell value is withheld and released the next trade day (similar to cash sells).

Example

• On Sept 21, if you sell stock in BTST (bought on Sept 20) for ₹100:
  
  ○ ₹40 will be withheld, ₹60 released instantly.
  
  ○ Out of the ₹40 withheld, ₹20 is released at EOD on Sept 22, and the remaining ₹20 at EOD on Sept 23.

You can view withheld amounts in the Trade Book (Equity) or under ‘Converted to Delivery’ on the Margin page.

If I have sold, do I have to give delivery of shares?

• Rolling Segment: You may buy back the shares before the end of the settlement cycle. If not, you must give delivery from your demat account.


• TT Segment: There is no netting-off. If you sell shares, you must mandatorily give delivery. Any purchases in the same settlement are treated separately and do not offset the delivery obligation.

I buy a share, how will the payment be made and how will I get the shares?

• Payment: Made on the Pay-In day, based on the settlement cycle and the exchange. The money is debited directly from your linked bank account.



• Shares: Received from the exchange and automatically credited to your demat account.

I have bought some shares but some amount has not been deducted from my bank account.

The amount is debited from your linked ICICI Bank account on the trade day itself. You can check the exact debit date on the Cash Projection page.

I have bought some shares but they have not come into my demat account.

Shares are credited to your demat account on the Pay-Out day (T+1 working day).

• The Order Verification screen at the time of placing a buy order shows the expected credit date.



• Alternatively, if shares are not received due to short delivery by the counterparty broker, the exchange conducts an auction to procure them.



• If shares are still not received in the auction, the exchange recovers penalty from the defaulting broker and compensates the buyer with the equivalent consideration.

I have sold some shares but the payment has not come into my bank account.

Sale proceeds are credited to your linked bank account on the Pay-Out day (T+1 working day).

What is a short delivery?

Short delivery occurs when a seller fails to deliver shares (partly or fully) during a settlement cycle.
You can view details of any short delivery in the My Messages link under the Equity page.

What is an auction?

An auction is conducted by the exchange to fulfill delivery obligations to buying members when selling members fail to deliver shares.

• If shares are short-delivered, bad deliveries, or company objections are not rectified, the exchange buys the required quantity from the market and allots them to the buyer.


• Auctions are generally held on Fridays.

What factors give rise to an auction?

The primary reason is short delivery of shares by selling members.

What happens if the shares are not bought in the auction?

If shares cannot be bought in an auction:

• The transaction is financially closed out as per SEBI guidelines.


• The close-out price is the higher of:
  
  ○  The highest traded price of the scrip between the trade day and the auction day, OR
  
  ○  20% above the last available closing price on the auction day.


• Funds are adjusted during the pay-in/pay-out process of the relevant auction.

What happens in case of Internal Shortage within ICICI Securities (when both Buyer and Seller are ICICI Securities’ clients)?

Internal shortage occurs when both the buyer and seller are ICICI Securities’ clients and the seller defaults in delivering securities. In such cases, the buyer may not receive shares on the settlement day (T+1).

As per SEBI Circular (SEBI/HO/MIRSD/MIRSD-PODI/P/CIR/2024/75 dated June 05, 2024) and NCL Circular (NCL/CMPFT/66688 dated February 14, 2025, effective February 25, 2025):

• Securities payout will be credited directly to the client’s demat account by the clearing corporation/depositories (NSDL/CDSL).


• For any shortage (including internal shortages), brokers must use the auction mechanism prescribed by the clearing corporation (CC).


• The policy for settling shortages will follow CC guidelines from time to time.

• All internal shortages will be reported to CC, which will conduct an auction.


• Settlement-wise and product-wise (Cash Sell, ATM, BTST, MTF Sell/BTST, SPOT Sell, etc.) shortages will be reported on settlement day.


• CC will debit the auction valuation amount from ICICI Securities’ settlement account, which will be blocked from the seller’s funds/securities.


• If shares are not received in the auction due to reasons like valuation not paid, corporate action, unsuccessful auction, or incorrect reporting, the position will be financially closed out at the CC auction rate or, if unavailable, at CC’s close-out rate.


• If neither auction nor close-out rate is available, the highest price of the scrip from Trade Day to Settlement Day will be used as the internal shortage close-out rate.


• Auction/close-out charges debited by CC will be recovered from the seller client.

• If the buyer does not receive securities on settlement day, CC will conduct an auction and credit shares on the auction settlement day.


• If securities cannot be delivered even after the auction, the position will be financially closed out at CC’s close-out rate (or, if unavailable, at the internal shortage close-out rate — the highest price from Trade Day to Settlement Day).


• Auction amounts will be credited to the buyer on auction settlement day or within one working day thereafter.

• If an MTF buy position is marked for payout shortage, the position will continue until auction settlement day.


• If securities are received and marked under MTF pledge, the position continues as is.


• If securities are not marked under MTF pledge, the position will be squared off.


• If CC does a financial close-out on auction settlement day, the quantity will be closed through “Convert to Delivery” (CTD) mode, and any close-out amount will be credited to the client.


• If the client squares off the MTF position before auction settlement day, it will be treated as a sell shortage and settled under the above process.

• If securities are received in auction → they will be auto-pledged under MTF and made available to you.


• If funds close-out is received → ICICI Direct will close your MTF open position (to the extent of shortage) using the Convert to Delivery (CTD) feature. The equivalent funds will be credited once received from the Clearing Corporation.

What is CUSPA? (Client Unpaid Securities Pledgee Account)

The shares bought under delivery products which are not fully or partly paid shall be transferred to the ‘Client Unpaid Securities Pledgee Account’ (CUSPA) and the same shall be auto-pledged in favour of ICICI Securities Ltd under CUSPA. The outstanding obligation at the end of T-day, along with combined ledger balances, shall be considered for the calculation and accordingly the shares will be considered for pledging under CUSPA. Communication about outstanding obligations shall be sent to the client via ‘Email’ and ‘My Messages’ about and Clearing Corporation shall transfer the shares to CUSPA.

What actions does ICICI Securities take to liquidate CUSPA shares if I do not fulfil my outstanding payment obligations?

On settlement date, such shares are eligible for Buy Today and Sell Tomorrow (BTST) transactions. However, if the customer fails to clear the outstanding obligation on the settlement date, ICICI Securities will liquidate the pledged securities to recover dues on T+2 days onwards on the best-efforts basis. Brokerage & charges as applicable.

How can my shares will be released from CUSPA?

If you fulfil the outstanding funds obligation on or before the settlement and before CC transfers, then such shares pledged to CUSPA will be released and the securities will be available as free balance in your demat account. In case only partial outstanding balance is cleared, then proportionate shares shall be released after the completion of the required processes.

Why am I unable to place certain orders when that stocks are present under CUSPA holdings?

If you have any stocks held under CUSPA holdings, you won’t be able to place new orders in the below products in both the exchanges until the shares are marked under CUSPA.
1. MTF Buy
2. Cash Buy including SEP / OneClick etc.
3. GTT
4. MTF T+n day CTD

Note: The term “Client Mode” is now referred to as “MTF Buy” (Buy Today & Pay within 1 year).
Please interpret “Client Mode” accordingly wherever it appears in your ICICI Direct interface.

What is Margin Trading / Trading in the Margin Segment at ICICI Direct?

Margin Trading allows you to take buy/sell positions in stocks by paying only a fraction of the trade value (the margin), enabling you to leverage your capital.
Positions are expected to be squared off within the same settlement cycle unless converted to delivery.

If prices move in your favor:

• You book a profit.

If prices move against you:

• You incur a loss.

However, you can choose to take delivery of buy positions (or give delivery for sell positions) if you have sufficient funds or shares.

Why is my Pledge not confirmed in MTF?

Under the Direct Payout facility, shares purchased under MTF are transferred to your mapped demat account followed by creation of an auto-pledge in favour of ‘Client Securities under Margin Funding Account’. If the pledge cannot be established due to an inactive, frozen, or suspended demat account or any other reason which are beyond our control, I-Sec reserves the right to settle, square off, or close out such unconfirmed positions within five trading days from the payout date.

What is CSMFA (Client Securities under Margin Funding Account) and why are my shares auto pledged in MTF in CSMFA?

It is an account the broker maintains with the depositories to manage pledges of securities bought through the Margin Trading Facility (MTF). When you purchase shares under MTF, they are automatically pledged in favour of ICICI Direct – CSMFA in your demat account. If the pledge cannot be created, any unconfirmed MTF position will be squared off (closed) within five working days of the payout date.

How is Margin Trading different from the Cash Segment?

Aspect	Cash Segment	Margin Trading Segment
Settlement Type	By Delivery (unless squared off intraday)	Intraday square-off unless converted
Funds/Shares Requirement	100% of buy value or full holding for sell	Partial margin only

Aspect	Cash Segment	Margin Trading Segment
Leverage	None	Yes, higher trading exposure
Risk	Lower	Higher (due to leverage)
Conversion to Delivery	Not applicable	Possible if adequate funds/securities available

Example:

• A Cash Buy of 100 shares of Reliance requires full payment.
• A Margin Buy allows you to take the same position by blocking only a percentage (say 20–25%) of the value.
• A Margin Sell can be placed even without holding the shares, provided sufficient margin limits are available.

Note: While Margin Trading allows higher exposure, it also increases risk due to leverage.
For details on margin percentages and stock eligibility, visit the Stock List under the Equity section of the Trading page after logging in.

What do ‘Broker Square-Off’ and ‘Client Square-Off’ mean in the Margin Product?

Broker Square-Off Mode:

• Under this mode, all unexecuted Margin Buy/Sell orders and open Margin Buy/Sell positions marked as ‘Broker’ will be treated as intraday positions.
• These orders and positions are automatically cancelled or squared off by ICICI Securities Limited (I-Sec) during the End of Settlement (EOS) process for the current settlement cycle.
• The EOS process timing is at I-Sec’s discretion.

Client Square-Off Mode:

• Under this mode, all unexecuted Margin Buy orders and open Margin Buy positions marked as ‘Client’ will not be squared off by I-Sec during the EOS process (except for certain exceptions mentioned below).
• The responsibility to square off such positions within the stipulated time (currently 360 days) rests with the client.
• Exception: For price-band scrips (where the stock price moves beyond a predefined percentage) or in special circumstances determined by I-Sec, the position may be squared off at I-Sec’s discretion.
• Client Square-Off Mode is also referred to as Margin Trading Facility (MTF) or Pay Later.

Can I place ‘Broker Square-Off’ and ‘Client Square-Off’ orders on both NSE and BSE?

Yes.
You can place both Broker and Client Square-Off mode transactions on NSE and BSE.
For Client Mode (MTF) positions, the maximum holding period is 360 days on both exchanges.

What is the Intraday Page?

The Intraday page displays all Margin positions taken in the current settlement and provides the following facilities:

• Add Margin – Add additional funds or limits to support your open positions.
• CTD (Convert to Delivery) – Convert your margin position into a cash position and take delivery of shares.
• Square Off – Close your open margin position by placing a square-off order.

Change Mode – Switch between Broker and Client square-off modes for eligible open positions.

What is the MTF (Pay Later) Page?

The MTF (Pay Later) page displays all your open Margin Buy positions taken under Client Square-Off Mode that were not squared off in earlier settlements.

It is similar in layout to the Margin Positions page and provides detailed position-level data, including:

On clicking the Stock Code, the following additional fields are displayed:

• Settlement Number
• Convert to Delivery Quantity
• Profit / Loss %
• Squared-Off Quantity
• Exchange and Trade Date
• Cover Order Quantity

These details help track performance and manage funding or delivery decisions.

How long do positions remain on the MTF (Pay Later) page?

Positions remain on the MTF (Pay Later) page until the number of days specified by I-Sec.
After this period, positions are automatically squared off by the Risk Monitoring System during the EOS process.

However, positions may be squared off earlier under the following circumstances:

• The stock hits its price band (as defined by I-Sec).


• A corporate action (e.g., Bonus, Split, Rights, etc.) impacts the scrip.

How does a Corporate Action impact MTF positions?

Corporate actions can trigger early square-off of MTF positions to avoid price distortion or settlement issues.
I-Sec may also disable new positions in that scrip temporarily.

Example:

• You bought 100 shares of TISCO at ₹300 each under Client Mode on 11 March 2016.
• The Ex-Date for Bonus Shares is 17 March 2024.
• I-Sec may square off your position 1–2 days before the Ex-Date and disable fresh orders in the scrip until reactivation.

I-Sec retains sole discretion on whether to apply such early square-off processes depending on the corporate action’s potential price impact.

Can I trade in Margin at any time during the day? Can I place a Margin order at 3.25 pm.?

Yes.
You can trade in Margin (Broker and Client Square-Off Modes) during regular market hours.

• Client Mode (MTF):
  Trading is available until market close (3:30 PM).
• Broker Mode (Intraday):
  Trading is available until the EOS process for the day is initiated.
  After EOS, you can only take or square off buy positions in Client Mode for eligible scrips.

The EOS process for Broker Mode runs for both NSE and BSE.

Which stocks are eligible for Margin Trading and why is the list limited?

Margin trading is currently enabled for select liquid and high-volume scrips. These stocks currently account for more than 95% of the trading volume on the exchanges.
Eligibility is determined based on:

• Liquidity
• Trading volume
• Risk parameters

You can view the latest stock list under:
Equity → Stock List → Margin Segment (NSE/BSE).

I-Sec reserves the right to add or remove scrips from the margin-eligible list at its sole discretion without prior notice.

How do I place a Margin Buy/Sell order?

For a Buy Order:

1. Go to Equity → Transact → Place Order → Intraday Tab.
2. Select Buy option.
3. Choose the stock, quantity, price, and square-off mode (Broker or Client).
4. Submit your order.

For a Sell Order:

1. Go to Equity → Transact → Place Order → Intraday Tab.
2. Select Sell option.
3. Fill in the order details (quantity, price, mode) and submit.

• All other parameters (price type, product code, etc.) are identical to those in the Cash Segment.
• Ensure sufficient margin is available before placing Margin orders.

How do I pledge my Client-MTF positions?

As per SEBI Circular dated February 25, 2020, all funded shares under the Margin Trading Facility (MTF) must be pledged in favour of ICICI Securities Limited (I-Sec).

• The funded shares will be held in your demat account and pledged to I-Sec through a marked pledge in the Client Unpaid Securities Margin Funding Account (CUSMFA) of I-Sec.
• Effective February 25, 2025, under the Direct Payout of Securities Facility, all shares bought through MTF will be auto-pledged in favour of I-Sec on the settlement date, without the need for OTP confirmation from the client.
• All other MTF features and applicable charges remain unchanged.

Are there additional charges for pledging MTF shares?

Yes.
Depositories NSDL and CDSL levy additional charges for pledge-related activities on a per-ISIN, per-instruction basis, as below:

How is delivery effected when I sell MTF-funded shares?

When you sell shares held under MTF:

• I-Sec will invoke the pledge on those shares to meet the exchange delivery obligation.
• This occurs regardless of whether the sale is initiated by you, your dealer, or through a risk-triggered square-off by I-Sec.
• This ensures proper delivery to the exchange from the pledged holdings.

What is an Advance Pledge?

An Advance Pledge is a future-dated pledge instruction that becomes active on the execution date, subject to:

• Sufficient share quantity being available in your demat account, and
• Required client confirmation being received.
  This allows you to pre-schedule pledges for anticipated future trades.

Can I short sell (sell shares not held in DP)?

Yes.
You may short sell in the Margin Product, provided the position is squared off the same day before the EOS (End of Settlement) process.
You cannot carry forward a net short position to the next settlement cycle.

Can I place Overnight Orders in Margin Broker Square-Off Mode?

❌ No.
Buy/Sell Overnight Orders are not permitted in Margin Broker Square-Off Mode, since it is strictly intraday.

Can I place Overnight Orders in Margin Client Square-Off Mode?

✅ Yes.
You can place Fresh and Square-Off Buy/Sell Overnight Orders in Client Mode (MTF) using:

• Limit or VTC (Valid-Till-Cancelled) order validity.
• Fresh Orders – via the MTF (Pay Later) tab under the existing Place Order link.
• Square-Off Orders – from the MTF (Pay Later) page.

What happens after I place an Overnight Client Mode Order? When will it be sent to the Exchange?

Once you place an Overnight Client Mode Order:

• It will first appear in your Order Book with the status ‘Requested’.
• The order will be sent to the exchange automatically when trading opens on the next market session.

When does an Overnight Order change from ‘Requested’ to ‘Ordered’?

• For pre-open enabled stocks, the order becomes ‘Ordered’ in the pre-open session.
• For other stocks, it transitions to ‘Ordered’ during the regular trading session.

Is there any change in margin blocking for Overnight Orders?

No.
Margin blocking remains the same as that for intraday or regular MTF orders.

Can I place orders during the Pre-Open Session?

Yes.
You can place orders in the pre-open session for pre-open enabled stocks, but only under Margin Client Square-Off Mode.

Are shares blocked in my DP when I place a sell order in the Margin segment?

No.
Unlike the Cash Segment, when placing a Margin Sell Order, the securities are not blocked in your demat account at the order placement stage.

Can I trade in both Margin and Cash segments on the same day for the same scrip?

Yes.
You can trade in Cash and Margin on the same day, for the same scrip, on the same exchange or across exchanges, irrespective of the Margin square-off mode.

Can I convert a pending Margin order into a Cash order?

No.
Only executed Margin positions can be converted to delivery (Cash Segment).
For pending Margin orders, you must cancel the Margin order and place a fresh Cash order.

Can I take a Margin position in Client Mode if I have unsettled positions in Cash?

Yes.
You can take a Margin position (Client Mode) even if you have unsettled Cash Segment positions.
Such unsettled positions can be viewed under the Securities Projection page in the Equity section.

Can I choose different square-off modes for the same scrip on different days?

Yes.
You may choose different square-off modes for the same scrip on different trading days.
However, on the same day, you cannot have orders/positions in the same scrip on one exchange with different modes.

If I hold a position in MTF (Pay Later), can I place Cash orders in the same scrip?

Yes.
You may place Cash Buy or Sell orders in the same scrip even if you have an open MTF (Pay Later) position, on the same or different exchange.
Alternatively, you can:

• Convert to Delivery from the Pending for Delivery page, or
• Place new Margin orders in Client or Broker Mode for the same scrip.

I squared off my position in Pending for Delivery. Can I still place Cash orders in that scrip today?

Yes.
Once you have fully or partially squared off a position in the Pending for Delivery page, you can:

• Place Cash Sell orders in the same scrip, and/or
• Place new Margin orders in the same scrip on the same day, on the same or different exchange.

Can I place a Margin order in Client Mode if I’ve pledged the same scrip as margin?

Yes.
You may place Margin orders (Client Mode) even if the same scrip has been pledged as margin, and vice versa.

Is the facility to buy in Client Square-Off Mode available for all scrips?

No.
The Client Square-Off (MTF) Buy facility is available only for select eligible securities as determined by I-Sec from time to time.

How can I know which securities allow the Client Square-Off mode?

To check the list of securities where the Client Square-Off (MTF) facility is available:

Path:
Login to www.ICICI Direct.com → Stock > Services > Stock List

• Under the “Client Square-Off Mode Enabled” column, look for the Intraday/Pay Later - MTF column.
• If the value is displayed as ‘Y’, the facility is available for that scrip.
• If the value is ‘N’, Client Square-Off is not available for that scrip.

How can I differentiate between Margin and Cash orders in the Order Book?

In your Order Book, you can distinguish order types by their display format:

How can I view my open positions in Margin?

• To view intraday open positions created during the current trading day:
  Go to Open Positions > Intraday.
  You’ll see details like:
• Stock name


• Buy/Sell direction


• Open quantity


• Cover order quantity


• Weighted average buy/sell price


• Current market price


• Mark-to-market (MTM) profit/loss


• Total margin blocked
• To view Margin positions taken in earlier settlements (under MTF):
  Visit the MTF (Pay Later) page under the Equity section of your ICICI Direct account.

How can I change the square-off mode of my open Margin positions?

You can change the square-off mode directly from your Margin Positions page.

Steps:

1. Go to Margin Positions.
2. Locate the position and click on the “Change Mode” link.
3. The Square-Off Mode column will show your current mode (e.g., “Broker” or “Client”).
4. On clicking Submit, you can switch to the other mode.

Example:
If your current mode is Broker, selecting Submit changes it to Client.

Note:
You can change the mode anytime before the End of Settlement (EOS) process is run for the day.

How many times can I change the square-off mode?

You can change the square-off mode as many numbers of times as you want before the EOS process runs.
After EOS, the square-off mode for Margin positions cannot be changed.

Why am I unable to Convert to Delivery (CTD) for certain Margin or MTF positions?

Due to regulatory norms on trade netting and settlement, ICICI Direct has implemented restrictions on certain securities and actions to remain compliant.

To view the full list of restricted actions and scrips, visit:
 [Click here] (available on the ICICI Direct platform).

How much margin would be blocked when I place a Margin order?

• Margin is blocked at the applicable margin percentage of the order value.
• For market orders, the system uses the last traded price (LTP) to calculate the order value for margin blocking.
• Once the order is executed, the margin is adjusted to reflect the actual execution price.

For more details on the margin percentage login to your account and visit the Stock List option in Equity section of the Trading page.

Is the margin percentage the same for all securities?

No.
Margin percentages vary by security and may change between settlements based on:

• Liquidity of the stock
• Volatility
• Overall market conditions

For detailed margin rates, refer to the Stock List in Equity Section under the Equity Trading page on www.ICICI Direct.com.

Is margin blocked on all Margin orders?

No. Margin is blocked only for fresh Margin orders (orders that create a new position).
If the order is a cover order (used to square off an existing position), no additional margin is blocked.

Example 1:
You have a buy position of 100 shares of Reliance in Margin.
If you now place a sell order for 100 shares, it’s treated as a cover order, and no new margin is blocked.

Example 2:
If you sell 150 shares, then the extra 50 shares (beyond your open position) are considered a fresh order, and margin will be blocked for those 50 shares.

Important:
Cover orders are recognized only against executed trades, not against pending/unexecuted orders.
So, if your buy order for TISCO (100 shares) is still pending and you place a sell order for 100 shares, the sell order will not be treated as a cover order—it will attract fresh margin.

Is there any impact on limits when Margin orders are executed?

Yes, executing a Margin order impacts your trading limits:

• For new positions:
  Margin is adjusted based on the actual execution price versus the price used for blocking.
  Any difference results in limit adjustment.
• For cover (square-off) orders:
  Margin blocked on the open position (proportionate to squared-off quantity) is released, and profit or loss from the transaction is accounted for.
• Released margin and profit are adjusted in your available limits.
• Profits remain withheld until end of day.

You can view detailed limit utilization under:
Equity Trading Page → Limits

When is margin released on Margin positions?

Margin blocked on a position is released immediately when:

• A Margin Sell position is closed (either squared off or converted to delivery), or
• A Margin Buy position is closed by squaring off.

The proportionate margin on the squared-off quantity is released and added back to your available trading limits.

What is meant by ‘squaring off a position’? What is a cover order?

Squaring off a position means closing an existing margin position.

• If you have bought shares, squaring off means selling those shares.
• If you have sold shares short, squaring off means buying them back.

You can place a square-off order by clicking on the ‘Square Off’ link available against your margin open positions.

It is recommended to place such orders through the ‘Intraday’ or ‘MTF (Pay Later)’ page to:

• Avoid duplicate orders, and
• Ensure that you don’t accidentally create fresh positions.

Example:
If you have a margin Buy position of 100 Reliance shares, placing a Sell order for 100 Reliance shares will square off your position.
The order placed to close this position is called a Cover Order.

How do I place a square-off order in Margin to close my open positions?

You can place square-off orders as follows:

• For intraday positions created during the day:
  Use the ‘Square Off’ hyperlink on the Intraday page or the standard Buy/Sell order page.
• For MTF positions (carried from earlier settlements):
  Use the ‘Square Off’ hyperlink on the MTF (Pay Later) page.

How is profit or loss recognized on execution of a square-off (cover) order?

Profit or loss is calculated by comparing:

• The execution price of the square-off order, and
• The weighted average price at which the position was created.

Example:
You have a Buy position of 100 Reliance shares built through:

• 50 shares @ ₹110 = ₹5,500
• 50 shares @ ₹90 = ₹4,500

Weighted Average Price = (₹5,500 + ₹4,500) / 100 = ₹100

If you sell 60 shares @ ₹105,
Profit = 60 × (105 - 100) = ₹300

Can I reduce the margin against my position if I have profit or excess margin available?

No.
Margin cannot be manually reduced by you.
Margin is released only in the following cases:

• When you cancel an unexecuted margin order, or
• When you close (square off) a margin position.

Where can I see the quantity squared off for earlier settlement positions?

To view squared-off quantities for positions taken in earlier settlements:

1. Go to the MTF (Pay Later) page.
2. Click on the Stock Code.
3. A detailed view will appear showing the squared-off quantity and related details.

Is it compulsory to square off all margin positions within the settlement?

Yes.
All open margin positions (net of any converted to delivery) must be squared off within the same settlement.

What happens if margin positions remain open at the end of settlement?

If any margin position remains open after settlement:

• ICICI Securities (I-Sec) will attempt to square off such positions on a best-effort basis.
• However, it is your responsibility to close all open positions.

If positions remain open, you will be required to arrange funds or securities to settle them.
You will be fully liable for any resulting auction, penalty, or interest charges.

What happens if MTF positions are not squared off by me in the same settlement?

MTF positions not squared off during the same day will:

• Remain open, and
• Be shifted to the MTF (Pay Later) page.

You must either:

• Convert to Delivery (CTD) by clicking ‘Convert to Delivery’ on the Pending for Delivery page, or
• Square off using the ‘Square Off’ link on the same page.

If not acted upon within the stipulated time, I-Sec may automatically square off these positions after a defined number of trading days, without prior notice and at its sole discretion.

What is End of Settlement (EOS)?

End of Settlement (EOS) is a daily process run by ICICI Securities to:

• Identify open margin positions that have not been squared off, and
• Close them automatically on a best-effort basis.

Two types of EOS processes are run:

1. EOS for Current Settlement

In this process, I-Sec cancels or squares off:

• All unexecuted Broker Square-Off mode buy/sell margin orders, and
• All open positions in the Broker mode for the current settlement.

Action Summary:

2. EOS for Earlier Settlements

In this process, I-Sec will:

• Cancel all unexecuted square-off orders for that earlier settlement, and
• Square off buy positions from earlier settlements (visible on the Pending for Delivery page) that are marked under Client Square-Off Mode.

The stipulated time for the EOS process for earlier settlements is displayed daily on the Pending for Delivery page.

If the EOS process cannot be run at the scheduled time for any reason, I-Sec may execute it on the next trading day at its discretion.

Will all open positions be squared off when the End of Settlement (EOS) process is run?

• All open Sell positions will be squared off by ICICI Securities (I-Sec) on a best-effort basis during the EOS process.
• For Buy positions, only those marked under ‘Broker Square Off’ mode will be squared off by I-Sec.
• Client Square Off (MTF) Buy positions will not be squared off on the trade day (T Day).
• The responsibility to close such positions lies with you.
• However, if the required funds are not brought in within the stipulated time, I-Sec will square off these positions in the EOS run for that earlier settlement.

Will the EOS process cancel my pending Sell orders if I have an open Client mode position on T Day?

The current settlement EOS process will cancel your pending Sell orders against open Client mode Buy positions only if the total Sell order quantity exceeds your open Buy position.

Examples:

Note:
Open Buy positions under Client Square Off mode are not squared off during the EOS process for the current settlement.

Will the EOS process cancel my pending Buy orders if I have a Sell position on T Day?

Yes.
If you have an open Sell position on T Day, the current settlement EOS process will:

• Cancel all pending Buy orders (in both Client and Broker modes), and
• Square off the open Sell position on a best-effort basis.

Can Margin Sell orders be modified after the EOS process?

No.
Once the EOS process is run, Margin Sell orders cannot be modified.

Is there any client-wise stock-wise position limit for Client Mode (MTF) positions?

Yes.
I-Sec has defined client-wise stock-wise limits for Margin Trading Facility (MTF) positions.

• If these limits are breached, I-Sec reserves the right to square off positions at its discretion.
• Limits are defined separately for each exchange (NSE & BSE).

Example:
If the client-wise limit for ITC is ₹40 crore and your total position reaches ₹41 crore, I-Sec may square off part of your position to bring it within the limit.

Is there an overall stock limit for Client Mode positions?

Yes.
There are overall stock-level limits for Client Mode (MTF) positions across clients.
If this overall limit is breached, I-Sec may square off positions at its discretion to maintain exposure limits.

Is there any single client exposure limits for Margin Trading Facility as per SEBI guidelines?

Yes, there is single client exposure limits for Margin Trading Facility as per SEBI guidelines and if this limit is breached then I-Sec reserves the right to square off the positions at its discretion.

Example :

Suppose the Max allowable client wise exposure limit is 30 Cr. and Client positions is 32 Cr which exceeds the limit of 30 Cr. then the position of customer may get squared off by I-Sec at its discretion to bring client positions within the above limit.

Is there any Max allowable exposure limits for Margin Trading Facility as per SEBI guidelines?

Yes, SEBI has given Max allowable exposure limits to Trading Members for Margin Trading Facility and if this limit is breached then I-Sec reserves the right to square off the positions at its discretion.

Where can I declare Promoter/Promoter Group status?

You can declare Promoter/Promoter Group status from 'Update Promoter Status' link available on below mentioned pages :

1. 'Pending for Delivery' page
2. 'Block/Create Limit' and 'Blocked Securities' pages under 'Shares as Margin'

Why declaration of stocks in which I am part of Promoter/Promoter Group is required?

You are required to declare the stocks in which you are part of Promoter/Promoter Group as per SEBI guidelines as this declaration will be used for reporting to exchanges if you have taken MTF position in such stocks or given them as collateral. Also, you can add / delete your promoter status by addition / deletion of record through 'Update Promoter Status' link.

Please note for all other not declared stocks, you will be considered as Non Promoter for the purpose of reporting your transactions to exchanges under the Margin Trading product as per SEBI guidelines.

Will my Margin Trading Facility positions may get squared off if the Stock in which I have taken position moves out from the eligible list of Stocks?

Yes, your Margin Trading Facility position may get squared off by I-Sec at its discretion in case the Stock in which you have taken the position moves out from the eligible list of Stocks.

What is meant by 'Convert to Delivery' ?

'Convert to Delivery' (CTD) is an option through which you can convert a Margin open position into a Cash position and receive or give delivery of shares thereof. You can do CTD of your Broker mode or Client mode position from Open position page on T Day before End of Settlement Process for Broker Mode and Trading hour for Client mode. Margin Client mode/MTF positions, CTD request will not be allowed to place for non - trading days and for trading days post 10:30 pm.

For example,

1. If you have a margin position of 'Buy 100 Reliance Shares' marked either in the Client square off mode or the Broker Square off mode, you can choose to receive delivery against the same by choosing the 'Convert to Delivery' option on T day any time till End of Settlement or Trading hours for Broker Mode and Client mode respectively. You can convert even a part of the total quantity of 100.
2. If you have a margin position of 'Sell 50 Reliance Shares' you can choose to give delivery of shares against the sell margin position if you have the requisite shares in your demat account by choosing 'Convert to Delivery' option. You can convert even a part of the total quantity of 50.

How do I convert my margin position into delivery (cash segment)?

To convert a Margin position, which is taken in the current settlement, to delivery (Cash segment), you can click on the link 'Convert to Delivery' (CTD) on the 'Margin Positions' page.

Similarly, to convert the positions of the earlier settlements you can click on the link 'Convert to Delivery' on the 'Pending for Delivery' page to convert the desired quantity to delivery.

Part or full convert to delivery is permitted in both the above cases.

Please ensure that you have adequate allocation of funds/stock in your linked bank/demat account to convert the buy/sell position respectively.

I have more than 1 position 'Pending for Delivery' in a scrip, which position can I convert to delivery first?

Convert to Delivery can be done for any position in any settlement.

Where can I see the quantity/positions converted to delivery?

You can view the quantity/positions converted to delivery by visiting :

1. The 'Converted to Delivery' page present on the Trading section under the Equity page.
2. The 'CTD Qty' link present on the 'Pending for Delivery' page.

When can I do cash sell for the shares received through Convert to Delivery?

You will be able to sell the shares in Cash on T+3 day after receiving the same in your demat account.

Can I convert my position in Cash Segment into Margin Positions?

No. Only the position in margin can be converted to delivery (cash) and not vice versa.

How does 'Convert to Delivery' impact limits?

On converting a 'Buy' position to delivery, additional amount is blocked from your limits to provide for 100% of the trade value of the converted quantity. On converting a 'Sell' position to delivery, the shares for the converted quantity are blocked in your demat account. The limit increases on account of release of the margin blocked earlier on the 'Sell' position and further on account of 100% of the sale proceeds of the converted quantity.

Can I convert to delivery my Margin positions with Client square off mode on the same day of taking the position?

Yes, margin positions with client square off mode can be Converted to delivery in the same settlement in which the position is taken till same day Trading hours. Alternatively, you can also modify such positions to Broker mode from Margin Position page and do a Convert to delivery on the same day of taking the positions.

Can I change the square off mode from Broker to Client for position in current settlement after having done convert to delivery for part quantity ?

Yes, if you have done a Convert to delivery of part quantity of your Broker mode position, you will be able to change the square off mode of this position to Client mode for the balance quantity from Margin Position page.

How is margin availability checked by I-Sec for open Margin positions marked under Broker square off mode?

The Intra-day Mark to Market process run by I-Sec checks the margin availability in case of Buy & Sell positions marked under the Broker square off mode, this is checked by comparing the Available Margin with the Minimum margin required for the position.

What will happen if during the day the last traded price for the scrip breaches beyond a certain % of the previous trading day closing price?

In case of Margin positions in price band scrips under the Broker and Client square off mode, I-Sec monitors the percentage change in the price of these scrips.

In case of certain scrips, if the last traded price of any such scrip moves beyond a certain %, I-Sec at its sole discretion will disable the scrip from further trading in the margin product under the Broker and Client square off mode and will check:

	1. If the scrip is in negative as compared with the previous trading day closing price then cancel all unexecuted fresh buy orders and pending sell square off orders and square off all the long positions at market price
In addition to above in case of Broker square off mode I-Sec will check:
	2. If the scrip is in positive as compared with the previous trading day closing price then cancel all unexecuted fresh sell orders and pending buy square off orders and square off all short positions at market price

The percentage of price change of a scrip specified by I-Sec can be different for Broker square off mode and Client Square off mode. For e.g. Under Broker square off mode, this percentage for a scrip can be say 16% and under Client Square off mode can be say 20%.

To know list of such scrips, please visit stock list page where price band column would be marked as "Y" for such scrips.

However, other scrips not included in the above list will not be disabled for further trading in Margin due to the above reason during the day. Please note this will be applicable to all your client mode positions on NSE as well as Margin Trading facility positions on BSE.

How is margin availability checked by I-Sec for open Margin positions marked under Client square off mode?

The Intra-day Mark to Market process run by I-Sec checks the margin availability in case of Buy positions marked under the Client square off mode, this is checked by comparing the Available Margin with the Minimum margin required for the position.

Can there be a change in the margin requirements on my Margin positions?

Yes, at frequent intervals, for positions marked under the Broker and Client square off mode, I-Sec checks whether margin blocked on positions is sufficient in light of the prevailing market conditions. If the available margin is not sufficient, additional margin is checked and in case the same is not available, the positions are squared off on best effort basis in the Intra-day Mark to Market process run by I-Sec.

What is meant by Intra-Day Mark to Market process? Is it run for all positions?

Intra-Day Mark to Market process is a process whereby I-Sec checks whether sufficient margin is available on positions. There are separate Intra-Day Mark to Market processes run for :

	1. all open Buy & Sell Margin positions marked under the Broker square off mode and
	2. all open Buy Margin positions marked under the Client square off mode.

If the Available Margin (AM) falls below the Minimum Margin (MM) for any position, I-Sec, through this process, blocks additional margin required out of the Limits available, if any. I-Sec may, at its discretion and at suitable time intervals, run the Intra-day Mark to Market processes.

Is the Intra-day Mark to Market process same for all Margin Buy and Sell positions marked under the Broker square off mode?

Yes, there would be a single Intra-day Mark to Market process run for all your open Buy and Sell Margin positions under broker square off mode.

Is the Intra-day Mark to Market process same for all Margin Buy positions marked under the Client square off mode?

No. Two types of intra-day mark to market processes are run by I-Sec for Margin Buy positions marked under the Client square off mode, as follows:

	1. Intra-day Mark to Market for positions taken in the current settlement: In this case, if the AM is less then MM and there are no Limits available, the Intra-day Mark to Market process would cancel all unexecuted orders in such security and if additional margin is further required, the process would square off the positions which have a margin shortfall.
	2. Intra day Mark to Market for positions in the 'Pending for Delivery': In case AM is less then MM and there are no Limits available, the Intra-day Mark to Market process would cancel all pending square off orders in such security and if additional margin is further required, the process would square off the positions which have a margin shortfall.

What is Minimum Margin (MM)? How is it calculated? Where can I see the Minimum margin amount?

Minimum Margin is the margin amount that you should ensure to maintain with I-Sec at all points of time for your open Margin Buy and Sell positions under Broker square off mode and for all your open Buy positions under Client square off mode. Once the available margin with I-Sec on such positions goes below the minimum required margin,I-Sec would block additional margin required from the limit available and in absence of sufficient limits for the required margin such positions will be squared off either in part or full. The details are explained in the FAQs below.

	1. Minimum Margin for Broker Square off mode is calculated as Weighted Average position price * Position Quantity * MM% for Broker mode
	2. Minimum Margin for Client Square off mode is calculated as Amount Payable+ (Amount Payable*Minimum Margin% for Client mode)

Minimum Margin amount can be viewed on the Margin Positions page or the Pending for Delivery page for the current day margin positions (broker & client square off mode) or earlier settlement margin open positions respectively.

Is Minimum Margin different for Margin positions under Broker and Client square off mode?

Yes, minimum Margin is different for different scrips and also different for same scrip under Broker and Client square off modes.

Where can I see the Minimum Margin % applicable for a scrip?

You can check the Minimum Margin % applicable for both Client and Broker square-off modes on the Stock List page.

Path:
Login to your account → Services → Equity → Stock List

What is Available Margin? Where can I view it?

1. For Broker Square Off Mode:
Available Margin = Total Margin blocked (including additional margin, if any) ± Mark-to-Market (MTM) profit/loss.

2. For Client Square Off Mode:
Available Margin = Current Market Price × Position Quantity.

Where to View:

• For current settlement positions: see the Intraday page.
• For earlier settlements (MTF positions): see the MTF (Pay Later) page.

What is ‘Amount Payable’? Where can I view it? How is it calculated?

Definition:
Amount Payable is the balance amount you must pay (over and above margin already paid) when you take delivery of a Margin position.

Payment timeline:

• Broker Square Off mode: Pay on T Day, before the end of settlement.
• Client Square Off mode: Pay on or after T Day, but within the stipulated time allowed.

Calculation:
Amount Payable = Cost Value of the Position – Margin Paid

Where to View:

• For Broker mode positions: Intraday page.
• For Client mode positions: Intraday and MTF (Pay Later) pages.

. What is ‘Margin Amount’? How is it calculated?

Margin Amount is the total margin you have paid for your Margin positions.

Calculation:

• Margin Amount = Trade Value × Applicable Margin Percentage, plus any additional margin added.
• The margin amount (including any add margin) is blocked during the day for all open Margin positions.
• For Pending for Delivery positions, the margin amount is debited from your bank account at the end of the day.

. What is Additional Margin?
Additional Margin is the extra amount required to protect a position when the Available Margin falls below the Minimum Margin required. It must be brought in to ensure your position remains compliant with margin requirements.

How is Additional Margin Calculated for Margin Buy Positions in the Intraday Mark-to-Market (MTM) Loop?

When a margin buy position falls short of the minimum margin requirement during intraday trading, the system may trigger a Mark-to-Market (MTM) loop.
In such cases, the Additional Margin required is calculated differently for Broker Square Off Mode and Client Square Off Mode positions.

1. For Broker Square Off Mode Positions

Formula:

Additional Margin = New Initial Margin – Available Margin
where
New Initial Margin = Current Market Price (CMP) × Position Quantity × Initial Margin %

Step-by-Step Example:

Step 1 – Calculate Minimum Margin:

Minimum Margin = Weighted Avg. Price × Quantity × MM%
= 600 × 100 × 11% = ₹6,600

Step 2 – Calculate Available Margin:

Available Margin = Total Margin Blocked ± MTM Profit/Loss
= 9,600 – ((600 – 550) × 100) = ₹4,600

Step 3 – Since Available Margin < Minimum Margin, calculate Additional Margin:

New Initial Margin = CMP × Quantity × IM%
= 550 × 100 × 16% = ₹8,800

Additional Margin = 8,800 – 4,600 = ₹4,200

Step 4 – Check limit availability:

• If Free Limits = ₹4,000, the entire ₹4,000 is blocked, but it still falls short of ₹4,200.
• The system will re-check margins and, if shortfall persists, will:
• Cancel pending orders in the same scrip.
• Try to block any additional available limits.
• If limits remain insufficient, the position may be squared off.
• If Free Limits = ₹5,000, the system blocks ₹4,200 as Add Margin, and the position remains protected.

2. For Client Square Off Mode Positions

The calculation for Client mode is done in two phases.

Phase 1: Initial Additional Margin Check

If the Available Margin is less than the Minimum Margin,
then:

Additional Margin = Amount Payable – [Available Margin – (Available Margin × IM%)]

Where:
IM% = Margin % applicable for the scrip (available on the Stock List page).

Example:

Step 1 – Calculate Minimum Margin:

Minimum Margin = Amount Payable + (Amount Payable × MM%)
= 45,000 + (45,000 × 16%) = ₹52,200

Step 2 – Calculate Available Margin:

Available Margin = CMP × Quantity = 500 × 100 = ₹50,000

Step 3 – Calculate Additional Margin:

Additional Margin = 45,000 – [50,000 – (50,000 × 25%)]
= 45,000 – (50,000 – 12,500) = ₹7,500

System Action:

• The system first tries to block this ₹7,500 from free limits.
• If Free Limits = ₹5,000, the system blocks ₹5,000 and moves to Phase 2 since the shortfall persists.

Phase 2: Revised Margin Calculation

After blocking the available limits, the system recalculates all margins.

System Action:

• The system will again check available limits.
• If still insufficient, it may cancel pending orders in that scrip and may proceed to square off the position on a best-effort basis.

How is additional margin calculated for Client Square-Off Mode positions in the intraday MTM process?

For Client Square-Off Mode, additional margin is calculated in two steps:
Step 1:
If available margin < minimum margin, then:
Additional Margin = Amount Payable − [Available Margin − (Available Margin × IM%)]
The system tries to block this from your free limits.
Step 2 (if Step 1 margin not fully met):

• System cancels pending orders in that scrip.


• Recalculates a Revised Initial Margin = Amount Payable ÷ (1 − IM%).


• New Additional Margin = Revised Initial Margin − Available Margin


• Blocks free limits again or squares off if still short.

• You bought 100 shares at ₹600. IM% = 25%, MM% = 16%.


• Margin blocked = ₹15,000; Amount Payable = ₹45,000


• CMP = ₹500 → Available Margin = 500 × 100 = ₹50,000


• Minimum Margin = 45,000 × 1.16 = ₹52,200 → shortfall exists

• Amount Payable = 45,000 − 5,000 = 40,000


• Revised Initial Margin = 40,000 ÷ 0.75 = 53,333


• New Additional Margin = 53,333 − 50,000 = ₹3,333

System tries to block ₹3,333; if not available, it may square off part of your position.

What happens if I have more than one position under Client Square Off Mode in different settlements for the same scrip?

All positions in the same scrip under Client Square Off Mode—even if they belong to different settlements—are clubbed together.
This combined data is then used to calculate:

• Amount Payable


• Minimum Margin


• Available Margin


• Additional Margin Required

. Why are positions under Client Square Off Mode clubbed at the scrip level?

Positions are combined to ensure fair margin utilization.
If one settlement has excess margin, it can be adjusted against another position in the same scrip where margin is short.
This helps:

• Optimize your available margin.
• Reduce the risk of unnecessary square-offs.

. How can I check if there’s a margin shortfall on any position?

You can monitor margin status on the MTF (Pay Later) and Intraday pages.

• If the Available Margin is highlighted in red colour, it means it’s close to breaching the minimum margin requirement.
• If the Available Margin falls below the minimum required level, the position may be squared off during the intraday MTM process if you don’t allocate additional margin in time.

Tip:

The Intraday and MTF (Pay Later) pages don’t auto-refresh.
Please click ‘View’ frequently to see the latest margin status as the Available Margin changes with the stock’s CMP (Current Market Price).

. How does I-Sec call for additional margin during the MTM process?

The system automatically blocks Additional Margin from your available trading limits whenever required.

What if my limits are not sufficient to meet the additional margin requirement?

• For Broker (Intraday) Square Off Mode:
• The available limit will be blocked.
• If insufficient, the system calculates the quantity to be squared off to cover the shortfall.


• For Client (MTF) Square Off Mode:
• The available limit will be blocked first.
• Then, the Additional Margin is recalculated, as the Amount Payable reduces by the amount blocked.
• After recalculation, the square-off quantity is determined based on the revised shortfall.

What if I have multiple open positions in the same scrip under Client Square Off Mode, but limits are inadequate to cover the Additional Margin requirement for all the positions?

If your available limits cannot meet the total Additional Margin required for all positions:

• The system will allocate limits in descending order of margin requirement, i.e.:
1. Position needing the highest additional margin first,
2. Followed by the next highest, and so on.
• After all available limits are utilized, the system recalculates and may square off the required quantity to cover the shortfall.

. What if I have unallocated clear funds in my bank account but not enough trading limits?

I-Sec will not automatically use your unallocated bank funds to meet a margin shortfall.
This ensures your normal banking operations remain unaffected.
Hence, it’s advisable to allocate adequate funds toward trading limits whenever you hold open margin positions.
(Applies to both MTF and Intraday.)

Will my entire position be squared off if there’s a margin shortfall?

No.
Only the required quantity, as calculated by the system during the Intraday MTM process, will be squared off.
However, in some cases, this may equal your entire position if the shortfall is substantial.

How the Square-Off Quantity Is Calculated

1. For Broker (Intraday) Square Off Mode Positions

Formula:

a. X = MIN(MAX(ROUNDDOWN((Available Margin + Current Limit) / (CMP × IM%),0), 0), Position Quantity)
b. Y = Position Quantity – X
c. If Y ≥ 1 → System proceeds to square off Y quantity.

Where:

• X = Quantity that can continue to be held.
• Y = Quantity to be squared off.
• IM% = Initial Margin %.
• CMP = Current Market Price.

Example:

Step 1 – Trigger Price Calculation:

(Initial Margin – Minimum Margin) ÷ Quantity = (20,000 – 15,000) ÷ 1,000 = ₹5
Trigger Price = 100 – 5 = ₹95

If CMP drops to ₹95:

• Margin left = ₹15,000
• Position value = 1,000 × ₹95 = ₹95,000
• Required margin = 20% × 95,000 = ₹19,000
• Available = ₹15,000 ⇒ shortfall = ₹4,000

With ₹15,000, you can only hold:

15,000 ÷ 20% = ₹75,000 worth of shares
₹75,000 ÷ ₹95/share = 789 shares

So, Shares to Square Off = 1,000 – 789 = 211 shares
The system will square off 211 shares to adjust your position.
Remaining 789 shares stay open with a revised trigger price of ₹89.90.

2. For Client (MTF) Square Off Mode Positions

Formula:

Square Off Quantity =
(Total Additional Margin Requirement ÷ CMP) × (IM% ÷ (1 – IM%))

Where:

• CMP = Current Market Price
• IM% = Margin % applicable to the scrip
• The system rounds up the result for execution at market price.

You can view IM% for each scrip under the Stock List in the Equity > Trading section after logging into your account.

Which position under Client Square Off Mode will be squared off first if the required square-off quantity is greater than the position quantity in a settlement?

If you have multiple open positions in the same scrip across different settlements under Client Square Off Mode, the system follows a clear order:

• The position under the settlement with the highest Additional Margin requirement will be squared off first.
• Next, the position with the second-highest additional margin requirement will be squared off, and so on.

This ensures that the position contributing most to the overall shortfall is addressed first.

Can I safeguard my open margin positions from being squared off?

✅ Yes, absolutely.

You can proactively allocate additional margin to any open margin position at any time.
This helps protect your positions if the market turns volatile or moves unfavourably.

How to add margin:

1. Go to the ‘Intraday’ or ‘MTF (Pay Later)’ page.
2. Click the ‘Add Margin’ link beside the position.
3. Enter the additional amount you wish to allocate.

Having adequate margin ensures that:

• Your position remains safe from forced closure during the MTM process.
• You have a buffer in case of sudden price movements.

 Tip: Regularly monitor your Available Margin, especially when it is highlighted in red, indicating proximity to the minimum margin threshold.

What is the Trigger Price shown on the ‘Intraday’ and ‘MTF (Pay Later)’ pages?

The Trigger Price is a tracking tool designed to help you anticipate when your margin position could be squared off.

It shows the approximate price level at which your position may be closed out if:

1. The Intraday Mark-to-Market (MTM) process triggers due to insufficient margin, or
2. The Last Traded Price (LTP) moves beyond a certain percentage from the previous day’s close (applicable for Price Band scrips).

Important:

• Under point 1 (MTM process) — the system will square off only if sufficient limits are not available.
• Under point 2 (Price Band breach) — the system will square off the position even if limits are sufficient.

Thus, Trigger Price helps you monitor potential risk levels but does not replace MTM margin checks.

Is Trigger Price calculated for all scrips?

Yes, Trigger Price is calculated for all scrips, but the method differs slightly:

1. Price Band Scrips

• Trigger Price is calculated for both:
• The Intraday MTM process (based on minimum margin requirement), and
• The Price Band process (based solely on LTP movement from the previous day’s close).
• For Buy positions: the higher of the two prices is displayed.
• For Sell positions: the lower of the two prices is displayed.

2. No Band Scrips

• Trigger Price is calculated only with respect to the Intraday MTM process (based on margin requirement).

Is Trigger Price calculated for both Broker Mode and Client Mode positions?

Yes.
Trigger Price is computed for both:

• Broker (Intraday) Mode, and
• Client (MTF / Pay Later) Mode positions.

When does Trigger Price get calculated?

Trigger Price is not calculated immediately when you place an order.

It is calculated only after the order is executed and results in an open position, i.e.:

• For Broker Mode: after a Buy or Sell order is executed.
• For Client Mode: after a Buy order is executed.

Only once the trade becomes an open position, the system calculates and displays the Trigger Price.

How is the Trigger Price calculated for Margin Broker Mode positions?

The Trigger Price under Broker (Intraday) Mode helps identify the approximate level at which your position may be squared off, based on either margin thresholds or price band limits (for banded scrips).

1. For Price Band Scrips

(a) Buy Broker Mode Positions

Example:

• Scrip: ACC (Price Band scrip)
• Buy Quantity: 100 shares @ ₹600
• IM%: 4%
• MM%: 2%
• Previous Day Close: ₹590

Step 1 – Trigger Price (as per Intraday MTM process):

Formula:

Calculation:

Step 2 – Trigger Price (as per LTP movement beyond a certain %):
If the applicable percentage is 16%,

Final Displayed Trigger Price:
The higher of the two values is displayed.
Rs. 588 will be shown on the Margin Position page.

(b) Sell Broker Mode Positions

Example:

• Scrip: ABB (Price Band scrip)
• Sell Quantity: 100 shares @ ₹1,095
• IM%: 4%
• MM%: 2%
• Previous Day Close: ₹950

Step 1 – Trigger Price (as per Intraday MTM process):

Step 2 – Trigger Price (as per LTP movement beyond a certain %):

If percentage = 16%

Final Displayed Trigger Price:
The lower of the two values is displayed.
Rs. 1102 will be shown.

2. For No Band Scrips

(a) Buy Broker Mode Positions

Example:

• Scrip: CIPLA (No Price Band)
• Buy Quantity: 100 shares @ ₹650
• IM%: 4%
• MM%: 2%

Formula:

Displayed Trigger Price: ₹637

(Only MTM process is applicable for no-band scrips; price-band-based trigger is not calculated.)

(b) Sell Broker Mode Positions

Example:

• Scrip: RELIND (No Price Band)
• Sell Quantity: 100 shares @ ₹1000
• IM%: 4%
• MM%: 2%

Formula:

Displayed Trigger Price: ₹1020

(Again, only MTM process applies for non-price-band scrips.)

Note:
For Price Band Scrips, Trigger Price is calculated under both:

• Intraday MTM process, and
• LTP movement beyond a set percentage process.

For No Band Scrips, only the MTM process is used.

How is the Trigger Price calculated for Margin Client Mode positions?

The Trigger Price for Client (MTF / Pay Later) Mode positions indicates the approximate level where the position may be squared off if margins fall short or if price band limits are breached.

1. For Price Band Scrips

Example:

• Scrip: ABC (Price Band scrip)
• Buy Quantity: 100 shares @ ₹500
• IM%: 8%
• MM%: 5%
• Previous Day Close: ₹510

Step 1 – Trigger Price (as per Intraday MTM process):
 Formula:

Step 2 – Trigger Price (as per LTP movement beyond a certain %):
If the applicable percentage is 21% (subject to change by I-Sec):

Final Displayed Trigger Price:
The higher of the two prices is displayed.
Rs. 483

2. For No Band Scrips

Example:

• Scrip: GAIL (No Price Band)
• Buy Quantity: 100 shares @ ₹350
• IM%: 8%
• MM%: 5%

Formula (MTM process only):

Displayed Trigger Price: ₹338.10

(LTP-based calculation does not apply for no-band scrips.)

How is Trigger Price calculated if I have more than one position under Client Square Off Mode in different settlements in the same scrip?

If you hold multiple open positions in the same scrip but under different settlements, then for Trigger Price calculation, all positions are clubbed at the scrip level across settlements.

The system aggregates the quantities and margin values to arrive at a single consolidated Trigger Price.

1. For Price Band Scrips

Example:
 You have the following positions in XYZ (a Price Band scrip):

Previous Day Close: ₹160

Step 1 – Trigger Price as per Intraday MTM process

Formula:

Calculations:

• Total Quantity: 100 + 100 = 200 shares
• Total Net Payable Amount: ₹25,300
• Total Minimum Margin:
  ₹25,300 + (₹25,300 × 5%) = ₹26,565

Step 2 – Trigger Price as per LTP moving beyond a certain %

If the applicable percentage = 21%,

Step 3 – Final Displayed Trigger Price

The higher of the two values is displayed.
Displayed Trigger Price = ₹132.83

2. For No Band Scrips

Example:
 You have the following positions in EXIIND (a non–price band scrip):

Step 1 – Trigger Price as per Intraday MTM process

• Total Quantity: 100 + 100 = 200 shares
• Total Net Payable Amount: ₹28,520
• Total Minimum Margin: ₹28,520 + (₹28,520 × 5%) = ₹29,946

Displayed Trigger Price = ₹149.73

(Since EXIIND is a no-band scrip, LTP-based trigger is not calculated.)

Summary Table

Can a Trigger Price displayed earlier change later?

Yes.
The Trigger Price is dynamic and may change whenever there is any variation in the Initial Margin Blocked value.
Such changes can occur due to the following events:

• Increase or decrease in open position (buy/sell more in same scrip)
• Partial square off of an existing position
• Add Margin action by client
• Convert to Delivery of margin positions

Each of these affects margin utilisation and thereby recalculates the Trigger Price.

Is the brokerage rate different for Cash and Intraday Margin product transactions?

Yes.
The brokerage plans differ between Cash product and Intraday Margin (Broker Mode) transactions.
For plan-wise details, visit:
www.ICICI Direct.com → Settings → Our Pricing

Is brokerage different for positions marked as ‘Pending for Delivery’?

Yes.
Margin Buy positions marked as ‘Pending for Delivery’ (i.e., not squared off within the same settlement) attract Cash product brokerage rates, since they effectively convert to delivery.

Is there any interest on positions that are marked as 'Pending for Delivery'?

Ans:
Yes. Interest is applicable on positions marked as ‘Pending for Delivery’ and is calculated as follows:

1. On the amount payable for the position
2. On the margin blocked in the form of Shares as Margin (SAM)
3. Additional interest, if applicable, in case the above interest charged falls below the minimum interest requirement under the Companies Act.

This applies irrespective of whether the margin is blocked in the form of Cash or SAM.

How is interest calculated on the Amount Payable? Where can I view the charged interest?

Ans:

• Interest is calculated on the amount payable for the number of days of delay in payment for your Pending for Delivery positions.
• The number of days delay is counted from the Exchange Pay-in Date for the respective settlement until the date funds are actually received, such as:
• Date of CTD (Convert to Delivery)
• Date of Add Margin
• Or the Pay-out Date after the position is squared off
• Interest is charged as per your mapped brokerage plan, on a per-day basis, and can be viewed under:
  MTF (Pay Later) → Interest Details link.

How is interest calculated on Shares as Margin (SAM) blocked against 'Pending for Delivery' positions? Where can I see this interest?

Ans:

• Interest is charged on the Shares as Margin (SAM) amount blocked against your Pending for Delivery positions.
• The interest period starts from the Exchange Pay-in Date of the buy transaction and continues until the date the securities limit remains blocked.
• Interest is calculated per day and can be viewed under:
  Equity Trading → Interest on Outstanding Obligation (displayed from T+1 day onwards).
• Interest rate is applied as per your brokerage plan.

Example 1: Interest on SAM Amount Blocked

You bought 100 shares of XYZ @ ₹500 under Client Mode using Securities Limit on Dec 5, 2016 with 20% margin, and sold the full quantity on Dec 12, 2016.

Interest Calculation:
= SAM Amount × Interest % × Days / 365
= 10,000 × 18% × 5 / 365 = ₹24.65 (≈0.05% per day)

📍 This daily interest from T+2 day to T+1 (Dec 7 to Dec 11) appears under Interest on Outstanding Obligation.

Example 2: CTD (Convert to Delivery) done on Dec 8, 2016

If full 100 shares were converted to delivery on Dec 8, 2016:
Interest charged only for Dec 7.

= 10,000 × 18% × 1 / 365 = ₹4.93

Example 3: Add Margin instead of CTD

If instead of CTD, you added ₹40,000 from securities limit on Dec 8, 2016:

Example 4: Partial CTD and Partial Square-off

If you converted 10 shares to delivery on Dec 8 and squared off 90 shares on Dec 12:

Example 5: Interest on Amount Payable

You bought 50 shares of TCS @ ₹2,000 under Client Mode using Securities Limit on Dec 5, 2016 with 15% margin and sold the full quantity on T+1 (Dec 6, 2016).

Interest on Amount Payable:
= 85,000 × 0.05% = ₹42.50

In this case, no interest is charged on SAM of ₹15,000 since the full quantity was sold on T+1.
Only ₹42.50 interest applies for 1-day payment delay.

How is interest on Pending for Delivery positions calculated if Margin blocked contains both Cash and Shares as Margin (SAM) components?

Ans:
When your margin includes both Cash and SAM, interest on Pending for Delivery (PFD) positions is calculated separately on each component and then added.

Example:

Interest Calculation:

• Interest on Amount Payable = ₹15,000 × 0.05% = ₹7.50
• Interest on SAM = ₹10,000 × 0.05% = ₹5.00
• Total Interest = ₹12.50 per day

Is there any additional interest on Pending for Delivery positions apart from interest on Amount Payable and SAM?

Ans:
Yes.
If the total interest charged (on Amount Payable plus SAM) is less than the minimum interest required under the Companies Act, additional interest will be levied.

Example:

So, Total Interest Payable = ₹12.50 + ₹6.50 = ₹19.00

is applies irrespective of whether the margin is in Cash or SAM.

Will there be any change in the interest if additional SAM is allocated?

Ans:
Yes.
If additional SAM is allocated, the interest amount may increase because interest is charged on the total SAM blocked.
This can happen when you use the ‘Release Cash and Block SAM’ option on the Pending for Delivery page.

Essentially, shifting more margin from Cash to SAM raises your interest liability.

How can I reduce my Interest on Outstanding Obligation?

Ans:
You can reduce your interest by performing a Convert to Delivery (CTD) for your Pending for Delivery positions.
This converts the margin trade into a delivery trade, ending daily interest accruals.

Can I swap my Margin from SAM to Cash to lower my interest obligation?

Ans:
Yes.
You can swap margin from SAM to Cash after market hours using the ‘Release SAM and Block Cash’ link on the Pending for Delivery page.

Example: You have bought ABC share of 10 Qty

Before Swap:

• Interest on Amount Payable = ₹9,000 × 0.05% = ₹4.50
• Interest on SAM = ₹800 × 0.05% = ₹0.40
•  Total Interest = ₹4.90

After using ‘Release SAM and Block Cash’:

• SAM Margin Released = ₹800
• Cash Margin Blocked = ₹800
• Interest on Amount Payable = ₹9,000 × 0.05% = ₹4.50
• Interest on SAM = ₹0.00
•  Total Interest = ₹4.50

 Result: Interest reduced by ₹0.40 per day.

Can I swap my Margin from Cash to SAM? Will there be any financial impact?

Ans:
Yes, you can swap Cash margin to SAM after market hours using the ‘Release Cash and Block SAM’ link on the Pending for Delivery page.

However, doing so will increase your interest, since interest is charged on SAM.

Example: You have bought ABC share of 10 Qty

Before Swap:

• Interest on Amount Payable = ₹9,000 × 0.05% = ₹4.50
• Interest on SAM = ₹800 × 0.05% = ₹0.40
•  Total Interest = ₹4.90

After using ‘Release Cash and Block SAM’:

• Cash Margin Released = ₹200
• Additional SAM Blocked = ₹200 (Total SAM = ₹1,000)
• Interest on Amount Payable = ₹9,000 × 0.05% = ₹4.50
• Interest on SAM = ₹1,000 × 0.05% = ₹0.50
•  Total Interest = ₹5.00

 Result: Interest increased by ₹0.10 per day.

Can I use ‘Release Cash and Block SAM’ or ‘Release SAM and Block Cash’ for any amount of margin?

Ans:
 Yes, you can perform either of these actions for any portion of margin blocked against your Client Mode positions, subject to a minimum threshold defined by ICICI Securities’ discretion.

Do I need to pay TDS (Tax Deducted at Source) on Interest charged under Margin Trading Facility (MTF)?

Ans:
Yes — in certain cases, TDS needs to be deducted on the Interest on Outstanding Obligation charged under MTF.

You are liable to deduct TDS if:

• You are a body corporate, or
• You are a person subject to tax audit under the Income Tax Act, 1961.

Key Details:

1. TDS must be deducted under Section 194A of the Income Tax Act at the applicable rate (as notified from time to time).
2. The TDS deducted must be deposited to the Government (Income Tax Department) using your TAN (Tax Deduction Account Number)
• Due date: 7th day of the following month
• For March deductions: Due date is April 30th
  Example: If TDS on interest paid to ICICI Securities (I-Sec) is deducted in July 2025, it must be deposited by August 7, 2025.
3. Quarterly TDS return: You must file your quarterly TDS return online on the TRACES portal, quoting I-Sec’s PAN: AAACI0996E.
4. After filing the return, download the TDS certificate (Form 16A) from TRACES and email it to:
   financialmanagers@icicisecurities.com
5. The TDS amount will be credited to your account once I-Sec receives the valid TDS certificate.

Note: ICICI Securities does not provide tax-advisory services.
For specific TDS or tax-filing queries, please consult your tax advisor or chartered accountant.

What brokerage will be charged on margin positions converted to delivery on the same day?

Ans:
All margin positions converted to delivery on the same day will attract brokerage and statutory charges applicable to Cash product transactions.

Can an open position be squared off in a different exchange?

Ans:
Yes.
With the introduction of interoperability, open positions can be squared off in any exchange by using the ‘Square Off’ option on the Intraday or MTF (Pay Later) Open Position page.

What does ‘Y’ or ‘N’ indicate in the Interop column in the Order Book?

Ans:

• ‘Y’ (Yes): Square-off order placed in a different exchange using interoperability.
• ‘N’ (No): Square-off order placed in the same exchange where the original position was created.

Can the Interop order quantity be modified beyond the open position quantity?

Ans:
 No.
Interop order quantity cannot exceed the open position quantity.

• In Margin products, a separate reverse-flow order can be placed for the excess quantity.
• In MTF products, sell orders for excess quantity cannot be placed.

What happens at EOS (End of Settlement) to unexecuted or pending Interop square-off orders?

Ans:
All unexecuted/pending square-off orders (including Interop orders) are cancelled at EOS.
Subsequently, a Market Square-Off Order is automatically placed at the source exchange where the original position was created.

Why is Open Position exchange getting displayed different than the order exchange?

With the implementation of interoperability, if interop order gets executed after reverse flow order from Margin page then separate open position may get created for interop order and it is displayed with source exchange i.e. original position exchange.

What forms of margin are acceptable for taking margin positions?

Ans:
You can provide margin in either of the following forms:

1. Cash Margin: By allocating funds from your linked bank account.
2. Shares as Margin (SAM): By blocking eligible securities from your demat account in favour of ICICI Securities.

On which positions will Cash Margin be debited?

Ans:
Cash margins are debited on Client-Mode open positions on NSE and BSE.

Will any margin be debited if my positions are fully covered by Shares as Margin (SAM)?

Ans:
If your total margin requirement is completely met by SAM, no additional funds will be debited — even if idle cash lies in your linked bank account.

However, margin will be debited in the following cases:

a. If SAM covers only part of the margin requirement, the balance will be debited from your linked bank account.
b. If no SAM is blocked, the entire margin will be debited in cash.

When will margin be debited from my linked bank account?

Ans:
Margin is debited at the end of the trading day from your linked bank account (Equity allocation) to the extent of limit utilized,
after adjusting for:

• Shares as Margin (SAM) available, and
• Margin blocked against Pending for Delivery (PFD) positions.

Can the blocked margin be released?

Ans:
No.
Once blocked, the margin cannot be released as it represents the required margin maintained against your open positions.

Can I withdraw the margin amount during the day?

Ans:
No.
You cannot withdraw the margin amount during the trading day.
Margins are adjusted or released only at End of Day (EOD), depending on your open position status and margin requirements.

In what scenarios will excess debited margin be credited back to my account?

Ans:
Excess margin deposited with ICICI Securities (I-Sec) may be credited back at EOD in the following scenarios.
The credited amount will reflect in your Equity allocation of the linked bank account.

1. Release Cash and Block Shares as Margin (SAM):

If you provide additional eligible shares from your demat account as margin and use the ‘Release Cash and Block SAM’ option on the Pending for Delivery (PFD) page, cash previously debited may be released.

Example:

• On T–1 day, total margin required = ₹5,000 (₹3,000 in shares + ₹2,000 in cash).
• On T day, margin required = ₹5,400 and you provide free SAM of ₹5,400.
• Upon doing ‘Release Cash and Block SAM’, the system releases ₹2,000 cash margin to your Equity allocation and blocks the full SAM instead.

2. By squaring off open positions:

When you square off your open positions, the margin blocked for those positions is released at EOD.

. Where can I view the margin amount debited from my linked bank account?

Ans:
You can view the margin amount details in the following places:

• On the Equity Limits page under “I-Sec Margin Amount” in your trading account.
• Under ‘I-Sec Margin History’ on the ‘I-Sec Margin Details’ page for historical debit/credit records.

Is there any restriction on the debit/credit of I-Sec margin amount?

Ans:
Yes.
ICICI Securities may not debit or credit the I-Sec margin amount if it is below a minimum threshold set internally at the discretion of the company.

What is the margin requirement for an MTF sell transaction?

Ans:
As per regulatory requirements, an upfront margin of 20% of the traded value is required for sell transactions in the cash market.
Accordingly, for MTF sell transactions executed on T+1 (against shares bought on T day), additional margin must be available.

This applies specifically to BTST (Buy Today, Sell Tomorrow) transactions.

At the end of the day, the additional margin is debited, and it is credited back on the settlement day of the buy transaction.
If the required margin is not available, the MTF sell order will not be placed.

Example:

• T day (20 Sept): MTF buy trade value = ₹100
• T+1 day (21 Sept): MTF sell trade value = ₹120
• Total trade value = ₹220
• Required margin = 20% × ₹220 = ₹44

Hence, ₹44 must be available as margin to place the MTF sell order on T+1 day.

What is a Bracket?

A Bracket is an intraday trading product that allows you to limit losses and protect profits automatically.
When you place a Bracket Order:

• You necessarily set a Stop Loss Trigger Price (SLTP) and a limit price to cap potential losses.
• You can also set an optional profit order to secure gains once your desired profit level is reached — without constantly monitoring the market.

What is a fresh order?

The order which is placed for creating the position is called fresh order. The fresh order can be either a Market or a Limit order.

Can I place a limit fresh order?

Yes. You can choose to place your Fresh Order as a Limit Order.

What is a cover order?

Once a Fresh Order is placed, it creates an open position.

A Cover Order is the opposite order placed to close this position.

For example:

• If you buy first (Fresh Order), your Cover Order will be a sell order.


• Every Bracket position must include a Cover SLTP (Stop Loss) order.


• You also have the option to place a Cover Profit Order to lock in profits.

Can I place Bracket Orders in all stocks?

No. Bracket Orders are available only for select stocks that meet liquidity and volume criteria.

I-Sec reserves the right to:

• Select the stocks available for Bracket trading, and


• Add or remove any stock from the Bracket list at its sole discretion, without prior notice.

Is a Cover SLTP Order mandatory while placing a bracket order?

Yes. A Cover SLTP Order is mandatory when placing a Bracket Order.

Is a Cover Profit Order mandatory while placing a bracket order?

• It can be placed after the position is created, from the Bracket Open Positions page.


• This feature allows you to protect your gains without actively tracking the market.


• You may also choose to keep only the mandatory SLTP cover order.

Can I place a cover profit order after the Fresh and cover SLTP orders have been placed?

Yes. After placing your Fresh and SLTP orders, you can place a Cover Profit Order from the Bracket Open Positions page by clicking the ‘Place Order’ link in the Profit Order section.

Can I place Cover Profit Orders for all Bracket-enabled stocks?

No. The Cover Profit Order feature is available only for select Bracket-enabled stocks.

I-Sec may include or exclude any stock from this list at its discretion, without prior intimation.

Where can I place Bracket Orders?

• You can place Fresh and Cover SLTP orders simultaneously from the Bracket Order placement screen.


• Once your position is created, Cover Profit Orders can be placed from the Bracket Positions page.


• To access this feature, go to the ‘Bracket Order’ link under the Equity Trading section.

What is a Cover Stop Loss Order?

A Cover Stop Loss Order is an order that activates only when the market price of a security reaches or crosses a Stop Loss Trigger Price (SLTP) specified by the investor.

It helps you limit potential losses on an open position.

How it works:

• When you set an SLTP in a limit order, it remains inactive until the stock’s market price touches or crosses that SLTP.


• Once triggered, the order becomes active and behaves like a normal limit order.

• Investor A short sells Reliance shares at ₹325, expecting the price to fall.


• To limit losses if the price rises, A places a Stop Loss Buy Order with:
  
  o  SLTP: ₹345
  
  o  Limit Price: ₹350
  


• Here, the SLTP must be between the last traded price and the buy limit price.


• Once the market price crosses ₹345, the order becomes an active limit buy order at ₹350.

• Investor A buys Reliance shares at ₹325, expecting the price to rise.


• To prevent losses if the price falls, A places a Stop Loss Sell Order with:
  
  o  SLTP: ₹305
  
  o  Limit Price: ₹300
  


• The SLTP must be between the limit price and the last traded price.


• When the market price touches or drops below ₹305, the order becomes a limit sell order at ₹300.
  
  Important Notes:
  
  
  • For a buy order, the SLTP must be lower than the buy price (below the last traded price).
  
  
  • For a sell order, the SLTP must be higher than the sell price (above the last traded price).
  
  
  • You cannot set an SLTP at a price that the market has already crossed.

What is a Cover Profit Order?

A Cover Profit Order is an optional feature under the Bracket product. It helps you book profits automatically when the market moves in your favor — without needing to monitor it constantly.

Key details:

• Can be placed only after a Bracket position is created.


• Must be placed from the Open Positions page.


• Designed to lock in profits in favorable market conditions.

What is a Reorder in Bracket?

• The Reorder feature allows you to quickly replicate previous Bracket orders using their existing details.

  Key points:

  • The default quantity will be the same as your original order or auto-calculated amount.
  
  
  • You may edit the quantity or use the Trading Amount feature before confirming the new order.
  
  
  • This helps save time and ensures consistency when placing similar trades.

Is there a minimum difference required between the SLTP and Cover Profit Order limit price?

Yes. A minimum percentage difference must always be maintained between the SLTP and the Cover Profit Order limit price, both at the time of placement and modification.

Purpose:

This ensures that in volatile market conditions, both orders don’t get executed simultaneously — preventing the creation of excess positions.
If both get executed and excess positions are created, the client will bear the resulting loss.

1. For a Cover Profit Buy Order:
• Limit price must be below SLTP by a defined percentage.
• Formula: SLTP - (X% of SLTP)
2. For a Cover Profit Sell Order:
• Limit price must be above SLTP by a defined percentage.
• Formula: SLTP + (X% of SLTP)

Example:

Let’s assume the minimum difference between SLTP and Cover Profit limit price is 5% for RELIND.

1. Bracket Sell Position – 500 RELIND
• Position Price: ₹100
• Stop Loss (Buy) Price: ₹105
• Cover Profit Limit Price = 105 - (105 × 5%) = ₹99.75
  → The profit order limit price must be ≤ ₹99.75, else validation will fail.
2. Bracket Buy Position – 500 RELIND
• Position Price: ₹100
• Stop Loss (Sell) Price: ₹98
• Cover Profit Limit Price = 98 + (98 × 5%) = ₹102.90
  → The profit order limit price must be ≥ ₹102.90, else validation will fail.

Where can I see the minimum difference % for a scrip?

You can view the minimum difference percentage for various scrips in the following ways:

• Visit www.ICICI Direct.com → Stocks → Services → Stock List → Equity Stock List, or


• Click on the “Bracket %” link on the Bracket Order Placement page after entering the stock code.

What details are required to place a Fresh Order?

You need to provide the following details to place a Fresh Order under the Bracket product:

a. Exchange
b. Stock
c. Action – Buy or Sell
d. Quantity or Trading Amount
e. Order Type – Market or Limit
f. Limit Price (if Limit order is selected)

Note:
You can enter either Quantity or Trading Amount:

• If you enter Quantity, the Trading Amount will auto-populate once you enter the SLTP and the Limit Price is displayed.


• If you enter Trading Amount, the Quantity will auto-populate similarly once the SLTP and Limit Price are entered.

How are Quantity and Trading Amount calculated?

You can use the built-in “Quantity or Trading Amount Calculation Tool” by entering the Stop Loss Trigger Price (SLTP) and Limit Price of your cover order.

A. When Fresh Order Type = Market Order

1. If you enter Trading Amount:
• The system calculates and auto-populates the Quantity based on the best bid/offer price available at that time.
• Since a market order can execute at a slightly different price, the system uses 99% of the Trading Amount for calculation.

Example:

• You want to buy POWGRI using ₹10,000.
• Best Offer Price = ₹100
• SLTP = ₹99; Limit Price = ₹97
• Bracket % = 0%; Margin % = 2%
• Margin per share = Max{[(100 – 97) + (100 × 0%)], (100 × 2%)} = ₹3
• 99% of Trading Amount = ₹9,900
• Max Quantity = 9,900 / 3 = 3,300 shares
1. If you enter Quantity:
• The system auto-calculates the required Trading Amount (margin required) using the weighted average price of the best 5 bids/offers.

Example:

• You want to buy POWGRI – 100 shares.
• Weighted average price = ₹105
• SLTP = ₹102; Limit Price = ₹100
• Bracket % = 0%; Margin % = 2%
• Margin per share = Max{[(105 – 100) + (105 × 0%)], (105 × 2%)} = ₹5
• Required Trading Amount = 100 × 5 = ₹500

Note:
Since it’s a Market Order, actual fund requirement may vary slightly at execution time due to price fluctuations. If your full trading limit is used, there may be insufficient funds for the entered quantity.

B. When Fresh Order Type = Limit Order

1. If you enter Trading Amount:
• The system auto-calculates and auto populates the Quantity based on your entered Limit Price.

Example:

• Buy ITC with Trading Limit = ₹9,900
• Limit Price = ₹350; SLTP = ₹340; Cover Limit Price = ₹335
• Bracket % = 0%; Margin % = 2%
• Margin per share = Max{[(350 – 335) + (350 × 0%)], (350 × 2%)} = ₹15
• Max Quantity = 9,900 / 15 = 660 shares
1. If you enter Quantity:
• The system auto-calculates the required Trading Amount based on the entered Limit Price.

Example:

• Buy ITC – 330 shares
• Limit Price = ₹350; SLTP = ₹340; Cover Limit Price = ₹335
• Bracket % = 0%; Margin % = 2%
• Margin per share = Max{[(350 – 335) + (350 × 0%)], (350 × 2%)} = ₹15
• Required Trading Amount = 330 × 15 = ₹4,950

Do I need to place Fresh, Cover SLTP, and Cover Profit Orders together?

• Fresh Order and Cover SLTP Order must be placed together.


• Cover Profit Order is optional and can be placed later from the Bracket Position page once the position is created.

Should the quantity of Fresh, Cover SLTP, and Cover Profit Orders be the same?

Yes. The quantity must be identical for all three orders to ensure correct order linkage and position closure.

What details are required for a Cover SLTP Order?

The details for placing a Cover Stop Loss Trigger (SLTP) Order are as follows:

a. Exchange
b. Stock
c. Action – Buy or Sell
d. Order Type – Limit
e. Stop Loss Trigger Price (SLTP)
f. Limit Price
g. Quantity

Additional Information:

• The first four details and Quantity are automatically picked from your Fresh Order.


• You need to enter the SLTP — the price at which the order should trigger.


• The Limit Price is auto-calculated based on the minimum difference % applicable for that stock.


• The auto-calculated Limit Price cannot be edited during order placement.

However:
During order modification (from Order Book or Bracket Position Page), the system recalculates the Limit Price automatically. You may either:

• Modify the SLTP, which will adjust the Limit Price, or


• Modify the Limit Price directly as per your preference.

What are the details required for a Cover Profit Order?

To place a Cover Profit Order, go to Open Positions → Bracket.

The required details are:
a. Exchange
b. Stock
c. Action (Buy/Sell)
d. Quantity
e. Order Type – Limit
f. Price

Additional Information:

• The first five values are automatically picked from your Fresh Order.


• You must enter the Cover Profit Order Limit Price.


• Alternatively, you can click the “Calculate” link, which helps auto-calculate the Limit Price based on the minimum difference % required between the Profit Limit Price and the Stop Loss Trigger Price (SLTP).


• If you choose to enter the price manually, ensure it meets the minimum difference % condition; otherwise, the order will not be accepted.

Can I cancel both Fresh and Cover SLTP Orders?

Yes. You can cancel both orders simultaneously only if neither has been executed.
If either order has been executed (even partially), cancellation of both orders will not be allowed.

Can I cancel only the Fresh Order?

No. A Fresh Order cannot be cancelled individually.
However, if your Cover Order is cancelled or rejected, you’ll get a “Cancel Fresh Order” link in the Order Book to cancel your Fresh Order.

Can I cancel only the Cover SLTP Order?

No. A Cover SLTP Order cannot be cancelled on its own.
However, if your Fresh Order gets cancelled or rejected, you’ll get a “Cancel Cover SLTP Order” link in the Order Book.

Can I modify the Fresh Order?

Yes, modification is allowed under certain conditions.
You can:

• Change your Fresh Limit Order to a Market Order, or
• Modify the Limit Price of your Fresh Order.

Modification is allowed only if:

• Your Fresh Order is fully pending or partially executed, and
• The corresponding Cover Order is fully pending.

If my Cover SLTP Order is rejected by the Exchange, can I re-enter it?

Yes.
If your Cover SLTP Order is rejected by the Exchange, you can re-enter it from the Open Positions page by clicking the “Order” link (visible only if the Fresh Order is fully executed).

Important:
ICICI Securities will not be liable for any losses arising from an unprotected position if you do not re-enter the Cover Order.
It is the client’s responsibility to monitor positions and take necessary steps to safeguard against such events.

Can I modify the Cover SLTP Order?

Yes. You can modify your Cover SLTP Order prices, provided they meet the trigger price conditions.

You can also convert your Cover SLTP Order to a Market Order using either of the following:

• The “Market Square Off” link on the Bracket Open Positions page, or
• The “Modify” option in your order details.

Pre-condition:
If a Cover Profit Order exists, you must cancel it first before modifying the Cover SLTP to a Market Order.

Example:

• Fresh Buy Order: 1,000 shares @ ₹100
• Cover SLTP (Sell): Limit Price ₹90, SLTP ₹95

If the market later rises to ₹110, you may modify:

• Limit Price to ₹103, and SLTP to ₹108, or
• Convert it directly to a Market Order to square off immediately.

Can Cover SLTP Order be converted to a "Market Order"?

Yes.
You can modify your Cover SLTP Order to a Market Order by:

• Cancelling any existing Cover Profit Order, and then
• Using the “Market Square Off” link on the Bracket Positions page to square off at the current market price.

What does the “Market Square Off” button do?

The Market Square Off button, available on the Bracket Positions page, allows you to square off your position instantly at the market price.

This feature performs two actions automatically:

1. Cancels any existing Cover Profit Order, and
2. Converts the Cover SLTP Order to a Market Order.

If no Cover Profit Order exists, the button will directly modify the Cover SLTP Order to a Market Order.

What happens if I don’t complete both steps while using Market Square Off?

The Market Square Off process involves two sequential steps:

1. Cancelling the Cover Profit Order.
2. Converting the Cover SLTP Order to a Market Order.

If you stop after Step 1 (for example, by clicking another trading link), only the Cover Profit Order will be cancelled, and the square-off will not happen.

What to do:

• You can click “Market Square Off” again.
• If Step 1 (cancellation) is already done, the system will directly proceed to Step 2 and send your Cover SLTP Order as a Market Order to the exchange for execution.

Can I cancel the Cover Profit Order?

Yes. You can cancel the Cover Profit Order anytime during market hours.

Can I modify the Cover Profit Order?

Yes.
You can modify the Limit Price of your Cover Profit Order, provided it complies with the minimum difference % validation between the Profit Limit Price and Stop Loss Trigger Price (SLTP), as explained earlier.

Can the Cover Profit Order be converted to a Market Order?

No.
A Cover Profit Order cannot be converted directly to a Market Order.
If you wish to square off your position at market price, you must cancel the Cover Profit Order first and then modify your SLTP Order to a Market Order.

What quantity can be submitted for Fresh Orders?

1. Fresh Limit Order

The maximum quantity you can place for a Fresh Limit Order is usually the maximum permissible quantity for that particular stock.
However, I-Sec reserves the right to change this limit at its discretion, depending on market conditions and risk factors.

2. Fresh Market Order

For a Fresh Market Order, the maximum quantity is restricted to the total of the best 5 bid/offer quantities currently available in the market.

If the order quantity exceeds the total of the best 5 bids/offers, the order will not be accepted.

Example:

• Total of best 5 offers: 3,600 shares
• If you place a Buy Order for 5,000 shares, it exceeds the available 3,600 shares — so the order will be rejected.

The same rule applies to Sell Orders, where the quantity cannot exceed the total of the best 5 bid quantities.

At what price is the margin for an order calculated?

For Fresh Market Orders

The margin price is calculated as the weighted average price of the best 5 bids/offers available at the time of order placement.

Example:

If you place a Buy Order for 4,500 shares, the weighted average is calculated as:

Weighted Average Price = 52,875 ÷ 4,500 = ₹11.75
This value will be used to calculate your margin requirement for the Bracket Order.

For Fresh Limit Orders

The Limit Price entered by you is used directly for margin calculation (instead of a weighted average).

What is the margin charged on placement of a Bracket Order?

The margin for a Bracket Order will be the higher of the following two values:

1. Maximum possible loss, i.e.,
   The difference between Fresh Order price and Cover SLTP price, plus any Bracket % margin, if applicable.
2. Margin computed as per the stock’s Margin %, specified under the Bracket product.

You can check the prescribed margins for each stock under the Equity → Stock List page.

Formula:

Fresh Buy – Market Order:

Max[{(Weighted Avg. Price of Fresh Order - Limit Price of Cover SLTP Order) × Quantity} + {(Weighted Avg. Price of Fresh Order × Quantity × Bracket %, if any)}, {(Weighted Avg. Price of Fresh Order × Quantity × Margin %)}]

(For a Fresh Sell Market Order, the loss component becomes:
Limit Price of Cover SLTP Order – Weighted Avg. Price of Fresh Order.)

Fresh Buy – Limit Order:

Max[{(Limit Price of Fresh Order - Limit Price of Cover SLTP Order) × Quantity}   + {(Limit Price of Fresh Order × Quantity × Bracket %, if any)},   {(Limit Price of Fresh Order × Quantity × Margin %)}]

(For a Fresh Sell Limit Order, loss = Cover SLTP Limit Price – Fresh Limit Price.)

Examples

Example 1 – Fresh Market Order

Example 2 – Fresh Limit Order

Will the margin be recalculated during order modification?

Yes.
Whenever you modify the Limit Price of your Fresh Order or Cover SLTP Order, the margin will be recalculated.
Any excess margin will be released, or additional margin will be blocked as required.

Example A – Margin Released

In the above example of order at market price, where Margin Plus % is 10 and Margin % is 5% if you modify the SLTP to  97/- and limit price to 92/-.The margin amount would be recalculated as 

Margin = Max{[(100–92)×1000 + (100×1000×10%)], (100×1000×5%)} = ₹18,000

Earlier margin was ₹20,000 → ₹2,000 released back to limit.

Example B – Additional Margin Blocked

In the above example where Margin Plus % is 10% and Margin% is 5% if you modify the limit price of your cover SLTP order to 88/- margin amount would be recalculated as 
Margin = Max{[(100–88)×1000 + (100×1000×10%)], (100×1000×5%)} = ₹22,000

→ ₹2,000 additional margin blocked.
If funds are insufficient, the modification will be rejected.

Example C – Limit Price Change (Fresh Limit Order)

In the above example of order at limit price, where Margin Plus % is 0% and Margin % is 15% if you modify the limit price of your fresh limit order from Rs. 99/- to Rs. 101/- without modifying SLTP and cover order limit price, margin amount would be recalculated as 

Margin = Max{[(101–90)×1000 + (101×1000×0%)], (101×1000×15%)} = ₹15,150

→ ₹300 additional margin blocked.
If limits are insufficient, modification will not go through.

Would the margin be recalculated when the order gets executed?

Yes.
At the time of order placement:

• For Market Orders, margin is calculated based on the weighted average price of the bids/offers.
• For Limit Orders, margin is calculated using the entered limit price.

If the actual execution occurs at a price different from the one used for blocking limits, the margin requirement is recomputed automatically.

Is the minimum difference % between SLTP and Limit Price of Cover SLTP Order different for different stocks?

Yes.
ICICI Securities (I-Sec) defines the minimum difference percentage individually for each stock.
This depends on the volatility and market conditions of that scrip.

What is the difference between Limit Price and SLTP Price that can be specified for a Cover SLTP Order?

The minimum percentage difference between the SLTP and Limit Price for the Cover SLTP Order is predefined by I-Sec for every stock and may vary based on volatility and market situation.

• This percentage can be revised by I-Sec even during the day.
• Existing orders remain unaffected.
• However, modified orders will follow the latest revised percentage.

During order placement:

• The Limit Price auto-populates based on the defined minimum difference %.
• This auto-calculated Limit Price is not editable while placing the order.
• During modification, however, you can adjust the SLTP or Limit Price as per your preference (within validation limits).

Example:
For stock ACC, assume a 5% difference must be maintained between the SLTP and Limit Price.

• You place a Fresh Buy Order of 1,000 shares at ₹100.
• You specify a Sell Cover SLTP Order at an SLTP of ₹95.
• Since this is a Sell Cover SLTP, the Limit Price must be at least 5% below the SLTP, i.e., ₹90.25 or lower.
• Therefore, if you specify a Limit Price between ₹90.25 and ₹95, the system will reject the order.

How does the concept of a Bracket work?

A Bracket Order links multiple orders together — a Fresh Order, a Stop-Loss (SLTP) Order, and an optional Profit Order — ensuring your risk and reward are pre-defined.

1. In case of a Fresh Buy Order:

a) When the price rises (position in profit):

• You can modify the Cover SLTP Order to a Market Order to book profits immediately.
• If your Profit Order executes first, the system will:
1. Cancel the SLTP Order immediately.
2. After about a minute, if any part of the Profit Order remains unexecuted, the system will cancel the balance and place a Market Order for that quantity to complete square-off.

b) When the price falls (position in loss):

• Once the market price reaches the SLTP, the Cover SLTP Order is triggered and sent to the exchange as a Limit Order.
• The system executes it at the best available prices up to your specified Limit Price.
• If you had also placed a Profit Order, it will be cancelled immediately once the SLTP Order starts executing.

2. In case of a Fresh Sell Order:

a) When the price rises (position in loss):

• When the price reaches your Buy Cover SLTP, the Cover SLTP Order is triggered and converted to a Limit Order, which executes up to your specified Limit Price.
• If you had a Cover Profit Order, it is cancelled immediately when the SLTP executes.

b) When the price falls (position in profit):

• You can modify your Profit Order Limit Price or convert the Cover SLTP Order to Market to immediately book profits.
• If your Profit Order executes first, the system will:
1. Cancel the SLTP Order immediately.
2. Cancel any unexecuted portion of the Profit Order within a minute.
3. Place a Market Order for the remaining quantity to square off your position.

What happens to the Cover Stop-Loss Order if the Cover Profit Order gets executed first?

When the Cover Profit Order starts executing:

1. The Cover SLTP Order is immediately cancelled.
2. After about a minute, if the Profit Order is not fully executed, the system will cancel the remaining portion if full execution is not received and place a Market Order for the balance quantity.

Why does the system cancel my Cover Profit Order on part execution and place a Market Order for the balance quantity?

This mechanism ensures that:

• You do not miss the opportunity to book profits if the full quantity is not available at your profit price.
• The remaining quantity is squared off at the best possible market price near your target.

What happens to the Cover Profit Order if the Cover SLTP Order gets executed first?

When the Cover SLTP Order is triggered and starts executing:

• The Cover Profit Order is immediately cancelled.
• The remaining quantity of the SLTP Order will continue to execute as the market trades within your specified limit.
• You can still modify the remaining SLTP or convert it to Market to square off the position.

As mentioned above, you can choose to cancel the profit order and modify the SLTP order to market or use the "Market Square Off" link. 

What happens to open positions remaining at the end of the day?

The Bracket Order is an intraday product, meaning all positions must be squared off before market close.

If positions remain open after market hours:

• I-Sec, on a best-effort basis, will initiate square-off at market price for all open positions before the end of trading hours.

Will there be any Mark-to-Market (MTM) process like in Margin Trading?

No.
Since the Bracket product already defines the maximum possible downside through the Stop-Loss leg, MTM adjustments are not required.

Can I convert my Bracket position to Delivery?

No. Bracket Orders cannot be converted to delivery positions.

Do I have the option to Add Margin?

No. The option of Add Margin is not available, since it is not relevant due to absence of Mark to Market process in Bracket product. 

Where can I view my open positions?

You can view your open positions on the Bracket Positions page after logging into your account on www.ICICI Direct.com.

Can I-Sec disable a scrip from Bracket trading during the day?

Yes.
ICICI Securities (I-Sec) reserves the right to disable a scrip for Bracket trading at any time during the day, depending on market volatility, regulatory updates, or internal risk controls.

What happens to Bracket Orders in a scrip that has been disabled?

Once a scrip is disabled for Bracket trading:

• You cannot place new Bracket Orders in that scrip.


• However, you can still modify existing orders.


• To square off such open positions, you can:
• Cancel the Profit Order, if any, and


• Modify the Cover SLTP Order to a Market Order, or


• Use the “Market Square Off” (Exit) button available on the platform.

What brokerage is payable on Bracket trades?

Bracket Orders attract the same brokerage structure applicable to Margin Orders.
You can view the latest brokerage schedule under:
Settings → My Brokerage Plan on www.ICICI Direct.com.

What is My EOS ?

My EOS is a quick-action facility that allows you to close open Bracket Orders or positions instantly.

Examples:

1. If your Fresh Order is executed and your SLTP Order is still pending, clicking My EOS will show a confirmation message —
   “Are you sure you want to close this position?”
   On confirming OK, the system will modify your SLTP Order to a Market Order.
2. If your Fresh Order itself is in ordered (pending) status, clicking My EOS will:
• Display the same confirmation message, and
• On confirmation, cancel both Fresh and SLTP Orders.

Will the My EOS link appear against all orders in the Order Book?

No.
The My EOS link is displayed only against Bracket Fresh Orders, irrespective of their status.

Will the My EOS link appear against all positions on the Bracket Positions page?

Yes.
The My EOS link is available against each open position in the Bracket Positions page, under the “Square Off at Market Price” column.

Is there any difference between using My EOS from the Order Book or Bracket Positions page?

No.
Functionally, both options perform the same action.
You may use either, depending on convenience.

Will My EOS be shown for already closed positions?

Yes.
The My EOS link may still appear against closed Bracket Fresh Orders. However, no action will occur if you trigger it for already closed positions.

Can I use Shares as Margin (SAM) limits for placing Bracket Orders?

Yes.
You can use Shares as Margin (SAM) facility for Bracket Orders.
For more details, please refer to the [Shares as Margin (SAM) FAQs] available on the ICICI Direct website.

What types of limits are allowed for placing Bracket Orders?

Both Cash and Shares as Margin (SAM) limits are allowed.
When placing a Bracket Order, SAM limits will be utilized first before drawing from Cash limits.

Can my Bracket Orders or Positions be squared off by I-Sec?

Yes.
Your Bracket positions may be cancelled or squared off by I-Sec if:

• You have no other marginable positions (like MTF or Margin Intraday), and
• Your Current Securities Limit becomes negative after considering available cash limits, and
• The negative limit exceeds an internal threshold set by I-Sec.

What happens if my Equity limit goes negative, and when can I-Sec square off my Bracket positions?

If your Current Securities Limit (after cash) becomes negative beyond I-Sec’s internal threshold, the following process applies:

Step-by-step Square-Off Logic:

1. If you have marginable positions (other than Bracket), I-Sec will first act on:
• Margin Intraday Orders/Positions, followed by
• MTF Positions (if any).
2. Next, Pending Bracket Orders (both Fresh and Cover) will be cancelled to release blocked margins.
3. If the limit is still negative, I-Sec will square off open Bracket positions one at a time (randomly) until the negative limit is within the threshold.

Example:

• Internal Threshold Limit = –3,000
• Current Securities Limit = –10,000

Positions held:

1. Reliance Industries – 10 Qty (Margin position), Margin Blocked ₹3,000
2. TCS – 10 Qty (Open Bracket Order), Margin Blocked ₹3,550
3. Deepak Nitrite Ltd – 20 Qty (Bracket Position), Margin Blocked ₹3,760
4. Pidilite Industries – 20 Qty (Bracket Position), Margin Blocked ₹7,000

Action sequence by I-Sec:

1. Square off Reliance Margin position → Limit improves to –7,000
2. Cancel open Bracket Order (TCS) → Limit improves to –3,450
3. Since still below threshold, square off one Bracket Position (Deepak Nitrite) → Limit becomes +310 (within limit)

Result: Negative limit resolved; no further square-off occurs.

1. What is Good till Trigger (GTT)?

A Good till Triggered (henceforth referred to as 'GTT') is the trigger-based order placement feature which allows you to place buy or sell orders in stocks of your choice at your specified price which will remain active until the trigger condition is met or the GTT request is cancelled / expired. The maximum validity date for which the GTT trigger will be valid, is 365 days after which it will get expired. It is particularly useful for traders who can't actively monitor the market throughout the day.

2. How does GTT feature work?

You can set a trigger price and a limit price for a GTT request. When the last traded price (LTP) breaches the specified trigger price, limit order will be placed with the exchange at the specified quantity and price. The GTT requests will be valid till triggered/cancelled/expired, whichever is earlier. The GTT request placed by you will be with ICICI Securities Limited (henceforth referred to as 'I-Sec') in GTT Book and limit order will be sent to exchange only when the trigger condition is met.

3. Can all customers of I-Sec avail GTT facility?

Yes, all online existing and new customers of I-Sec who are eligible to trade in Equity Cash product can avail GTT facility.

4. Is GTT feature available for all products?

No. The facility of placing GTT request is available only for Cash Products only under the Equity segment. Please note you cannot place GTT requests in any other products under Equity like Margin Broker Mode, Margin Client Mode, Margin Plus etc.

5. Can I place Buy and Sell orders with GTT request validity?

Yes, GTT request are available for both your Buy as well as Sell orders in Cash product only.

6. Can I place GTT request in any stock and exchange?

GTT request can only be placed in particular Stock Exchange combination if it is allowed for placing GTT Requests as per I-Sec Risk Management System (henceforth referred to as 'RMS'). Please visit the Equity "Stock List" page under Services tab in Stocks Section. On clicking the stock name, GTT Allowed Y/ N field will be available to view whether the selected Stock Exchange combination is allowed for GTT facility or not. However, I-Sec RMS can disable any of the stocks for placing GTT requests at its discretion.

7. Do I need to allocate funds for placing GTT request?

No, you don't need to allocate funds while placing GTT request. However, you will have to ensure that sufficient limits are available in Equity segment when your GTT request is triggered, to meet requisite limit required for the order.

8. What will be the validity of GTT request?

GTT request will be valid till it is triggered, cancelled or till expiry of validity, whichever is earlier. The maximum validity of a GTT is 365 days, after which it will get expired. Please note in case the triggered order remains open/ unexecuted for the day then the order expires and the GTT request will no longer be valid. In such cases you may want to place your GTT request again.

9. What is Trigger price and Limit price in GTT request?

Trigger price is the price at which your request will get triggered for sending order to exchange & limit price is the price at which your order will get placed at exchange.

10. What are different types of GTT requests?

There are below types of GTT requests–

1. Buy Single
2. Sell Single
3. Sell OCO (One Cancels Other)
4. Cover Sell Single
5. Cover Sell OCO (One Cancels Other)

11. What is Single trigger type in GTT?

Single trigger type GTT request is where you can set a single trigger price, which can be greater than / lower than the LTP, once the LTP crosses your trigger price, order will be placed with the exchanges at your predetermined limit price.

Example1: Say, LTP of a stock is Rs. 100 and you set the trigger price at Rs. 90 and the limit price at Rs. 89, then once the LTP trades below Rs. 90, your GTT request will be triggered and an order will be placed with the exchange at Rs. 89.

Example2: Say, LTP of a stock is Rs. 100 and you set the trigger price at Rs. 110 and the limit price at Rs. 111, then once the LTP trades above Rs. 110, your GTT request will be triggered and an order will be placed with the exchange at Rs. 111.

12. What is OCO request type in GTT?

In Sell OCO or Cover Sell OCO type GTT requests, both 'Stoploss' and 'Target' trigger price conditions can be set simultaneously. When either of the trigger price condition is fulfilled, then the other one which is not triggered will get immediately cancelled.

Example: LTP of a stock is Rs. 100 and you place a OCO GTT request with the Stoploss Trigger price at Rs. 90 and Stoploss Limit price at Rs. 89 and Target Trigger price at Rs 110 and Target Limit price at Rs. 111. Now if the LTP trades below Rs. 90, then the stop loss condition is met so, Target price condition will get cancelled immediately and stoploss order will be sent to the exchange at Rs. 89.

13. What is Cover request type in GTT?

Cover GTT request can be placed along with the fresh order from the existing order placement page.

Example: Currently, a stock is trading at LTP of Rs. 101 and You are placing buy order for a stock at a Limit Price of Rs 100. Along with the same order, you place cover GTT request with Stoploss Trigger price of Rs. 90, Stoploss Limit price of Rs. 89, Target Trigger price of Rs. 110 and Target Limit price of Rs. 111. Once Buy order of Rs. 100 is fully executed, cover GTT request will become Active and until then it will remain Inactive. Now, after GTT request becomes Active, if the LTP reaches on or below Rs. 90, then the stop loss condition is met so, Target price condition will get cancelled immediately and stoploss order will be sent to the exchange for execution at Rs. 89.

14. Where can I place GTT request?

You can place GTT request from the following pages as mentioned below:

1. "GTT" page in "Place Order" tab: GTT Buy as well as GTT Sell requests.
2. "Delivery Page" in "Place Order" Tab: Sell GTT Request along with Normal Fresh Buy order of Day Validity.
3. "Demat Holding" page: GTT Sell requests.
4. "Get Quotes" page: GTT Buy as well as Sell requests.