NSE closes all Emkay position, member disabled

NSE has disabled the terminal of Emkay and all positions have also been closed, reports CNBC-TV18. This is primarily done as because of the shortfall of funds due to freak trade. It needs to be seen further from now that whether Emkay will be able to fulfill all the fund requirements before its membership can be enabled again.

In normal course of trading whenever member falls short of funds the member logins are disabled. In this case because there is a freak trade, NSE will have to issue detailed guidelines of how to enable the entire thing.
This is because there will be a lot of shortfall for Emkay as far as margin requirement is concerned and also because it is a huge freak trade which is valued at nearly Rs 650 crore. There are some losses which also Emkay will have to book and that would mean that all those settlement requirements have to be undertaken before the login get enabled again.