Mumbai, Oct. 22 -- Mumbai: The Securities and Exchange Board of India (Sebi) has waived margin requirements for trades using proceeds from sales under the early pay-in (EPI) mechanism, a move aimed at easing margin-funding requirements.

In a circular issued on Thursday, the capital markets regulator said clearing corporations must, in real time, refrain from collecting margin from trading members and clearing members on subsequent positions taken by clients, up to the value of EPI accepted by the clearing corporation.

The framework applies where a client has a net sell obligation in a settlement, and the clearing corporation has successfully accepted the EPI request for the securities sold.

Mint was the first to report in July that Seb...