We’ve got an important update this week.

Tuesday, 13th April 2021 is a settlement holiday on account of Gudi Padwa. Due to this, all Stock (Equity Delivery) orders placed today and tomorrow (12th & 13th April 2021) will reflect in your Demat account on Friday 16th April 2021.

Wednesday, 14th April 2021 is a trading holiday because of Dr. Babasaheb Ambedkar Jayanti. This means markets will remain closed and no trading and investing will happen on this day.

To help you understand what this means and how it impacts you, we’ve simplified the details below.

What’s a settlement holiday?
Settlement holidays are when markets are open but the settlement of your trades do not take place as per the usual T+2 cycle because either the depositaries (NSDL and CDSL) are closed or banks are closed on that day.

What’s a trading holiday?
Trading holidays are when markets are closed and no trading or investing takes place on this day. Settlements also do not happen on this day.

What will be the impact of these holidays on your trades?
On account of the holidays on 13th and 14th April 2021 kindly note the following impact:

1. All trades placed on 12th and 13th April in the Equity (Stocks) segment will be settled on Friday, 16th April 2021.
2. All trades placed on 12th and 13th April in the Derivative (F&O, Currency, Commodity)  segment will be settled on 15th April 2021.
3. All shares bought on 12th April will be visible under T1 holdings on 13th April but you will only be able to sell them on 15th April.
4. The credit bill amount for all segments on 12th April will not be available for trading or withdrawal purposes till 16th April 2021 because this amount will be blocked due to the settlement holiday.
5. All fund withdrawal requests placed on 13th April will be processed on Friday, 16th April 2021.

You can also check a list of future settlement holidays here and trading holidays here.

If you have any queries, you can raise a ticket on the Upstox mobile or desktop platforms. 

We’ve temporarily disabled our desktop trading platforms, NEST trader terminal, Dartstock & Fox Trader. To continue trading seamlessly, use our web trading platform- Upstox Pro web. You can access this by clicking here. 

Dear Customer,

We have upgraded our security systems manifold recently, on the recommendations of a global cyber-security firm. We brought in the expertise of this globally renowned firm after we received emails claiming unauthorized access into our database. These claims suggested that some contact data and KYC details may have been compromised from third-party data-warehouse systems.

We would like to assure you that your funds and securities are protected and remain safe. Funds can only be moved to your linked bank accounts and your securities are held with the relevant depositories. As a matter of abundant caution, we have also initiated a secure password reset via OTP.

Through this time, we have also strongly fortified our systems to the highest standards:

- Immediately restricted access to the impacted database
- Added multiple security enhancements at all third party data-warehouses
- Setup real-time 24x7 monitoring
- Additionally ring-fenced the network

At Upstox, customer safety is paramount. Here’s a ready reckoner for your financial safety and security at all times:

- Always use unique strong passwords (multi-case, alphanumeric, no name fragments) and different from older versions
- Never share OTPs with anyone
- Watch out for OTPs you may not have requested and alert the service provider in such events
- Beware of online fraud and double-check the legitimacy of links and senders

As a cutting-edge technology platform, we are further amping up our industry-class bug bounty program to encourage ethical hackers to stress test our systems and protocols and help us identify any vulnerabilities from time to time.

We take your security and privacy very seriously. While we have already reported this incident to the relevant authorities, we deeply regret any inconvenience this may have caused you. Thank you for your continued trust and support.

Best,
Ravi Kumar
Co-founder & CEO

Effective 12th April 2021, Upstox will pass on any Exchange-levied penalties arising out of a margin shortfall to clients.

What does this mean?
As you are aware, in order to comply with the Exchange and regulatory requirements, we are required to collect upfront margin from all clients. As a result, clients with insufficient margins will not be able to place an order with us upfront. 

However, there could be instances when margin requirements go up after clients enter into a trade or take any actions on their current Open positions. In such instances, clients are required to add sufficient funds to their Trading account to fulfil the resulting margin shortfall (if any).

If sufficient funds are not added and it leads to a margin shortfall on the trading day (T day), then the margin penalty levied by the Exchange would be passed on to such clients (this will reflect in the client’s ledger). If the shortfall continues on T+1 day, subsequent action as per the Upstox risk policy would also be applicable.

What are the few instances when margin requirements could go up, that clients need to be aware about?

Here are few examples when margin requirements could move up:

1. A leg of a hedged position squared off by client or a leg of hedged position expiring leading to an increase in margin requirement.
2. While the margin rate remains the same, an increase in price leads to an increase in margin requirements.
3.  A change in the initial margin rates due to high volatility in any stock or scrip leading to an increase in margin requirement. 

What should you do to avoid margin shortfall penalties?

1. Keep track of the margin requirements. You can view any shortfall in your funds from the Upstox mobile app or web platform. You can view the shortfall on the ‘Funds’ screen under the ‘Available to Trade’. If the amount here is negative, then you are in a shortfall. 
2. In case of a shortfall, please add funds to your account immediately. You can add funds instantly on Upstox via UPI/NEFT/RTGS/IMPS or by using Smart Transfer.

We’ve got an important update this week.

Thursday 1st April 2021 is a settlement holiday on account of the New Financial Year. Due to this, all Equity Delivery orders placed on 31st March & 1st April 2021 will reflect in your Demat account on Tuesday 6th April 2021.

Friday 2nd April 2021 is a trading holiday because of Good Friday. This means markets will remain closed and no trading and investing will happen on this day.

To help you understand what this means, we’ve simplified the details below.

What’s a settlement holiday?
Settlement holidays are when markets are open but settlement of your trades do not take place as per the usual T+2 cycle because either the depositaries (NSDL and CDSL) are closed or banks are closed on that day.

What’s a trading holiday?
Trading holidays are when markets are closed and no trading or investing takes place on this day. Settlements also do not happen on this day.

What will be the impact of the settlement holiday on 1st April 2021 and trading holiday on 2nd April 2021?
On account of the holidays on 1st and 2nd April 2021 kindly note the following impact:

1. All trades placed on 31st March and 1st April in the Equity segment will be settled on Tuesday, 6th April
2. All trades placed on 31st March in the Derivative segment will be settled on 5th April
3. All shares bought on 31st March will be visible under T1 holdings on 1st  April but you will only be able to sell them on 5th April.
4. The credit bill amount for all segments on 31st March will not be available for trading or withdrawal purposes till 5th April 2021 because this amount will be blocked to the settlement holiday.
5. All fund withdrawal requests placed on 2nd April will be processed on Monday, 5th April 2021.

You can also check a list of future settlement holidays here and trading holidays here.

If you have any queries, you can raise a ticket on the Upstox mobile or desktop platforms.