T+1, peak margin norms in interest of investors, says Sebi chief Tyagi

Peak margin norms, proposal to shift to a T+1 settlement cycle have been criticised by brokers, foreign portfolio investors.

Securities and Exchange Board of India (Sebi) Chairman Ajay Tyagi on Thursday defended the recent reforms announced by the regulator, such as peak margin norms and shortening of the trade settlement cycle, saying they were in the interest of investors.
 
The moves were criticised by the broking community and the foreign portfolio investors (FPIs).
 
Speaking to the media after his inaugural address at the CII Financial Markets Summit, Tyagi said: “The new peak margin norms are in everyone’s interest. An investor’s margins should not be used for others or for proprietary trading by brokers. Given the increase in