In this guide, we will break down a real-world MTF report to explain exactly what each column means, how your “Loss” is calculated, and why the “Haircut” matters more than you think.<\/span><\/p>\n The Daily MTF report is essentially a daily balance sheet for your leveraged trades. When you buy stocks on margin, you are paying only a fraction of the cost (the margin) while the broker funds the rest. Because the broker is lending you money, they need to ensure you have enough cash or stock collateral in your account to cover potential losses.<\/span><\/p>\n This report tells you three things:<\/span><\/p>\n Let\u2019s dissect the report section by section, using the example below of a trader named Bhupender Jogi:<\/span><\/p>\n Right on top, you\u2019ll see basic details like your name and your client code.<\/span><\/p>\n In this case, the Client Name is Bhupender Jogi and the Client Code will be a unique 8 character long alphanumeric code. For example: AB123456<\/span><\/p>\n In our example, the MTF Ledger amount is <\/span>-1,220,256.00.<\/span><\/p>\n What it means:<\/b> This is the loan. It represents the debit balance in your MTF account.<\/span><\/p>\n Why is it negative?<\/b> In accounting terms, a debit (money you owe the broker) is often shown as a negative. This is the amount the broker has funded for you to hold your positions.<\/span><\/p>\n Here, the value is <\/span>1,789,800.00.<\/p>\n What it means:<\/b> This is the original “cost” or funded value of the stocks you bought.<\/span><\/p>\n The Math:<\/b> If you check the detailed table, Bhupender Jogi bought 30,000 shares of Suzlon. This number represents the total capital deployed (your money + broker’s money) to buy those shares.<\/span><\/p>\n The report lists this as <\/span>-501,144.00.<\/span><\/p>\n What it means:<\/b> This is the “skin in the game” the broker demands. You cannot borrow 100% of the trade value. You must put up a percentage (the margin).<\/span><\/p>\n How is it calculated?<\/b> It is based on the stock’s volatility (VAR + ELM margins set by the exchange). Risky stocks require higher margins. In this specific case, the margin required is roughly 28% of the funded value.<\/span><\/p>\n VAR (Value at Risk):<\/strong> The base margin calculated by the exchange. It estimates the maximum likely loss in a single day under normal market conditions.<\/p>\n ELM (Extreme Loss Margin):<\/strong> An additional safety buffer that covers losses in extreme or highly volatile market situations such as market crashes.<\/p>\n<\/div>\n The report shows an MTOM (Mark-to-Market) loss of <\/span>-68,400.00.<\/span><\/p>\n What it means:<\/b> This is your <\/span>unrealized<\/span><\/i> loss for the day or since the position was opened.<\/span><\/p>\n The Calculation:<\/b><\/p>\n Why it matters:<\/b> In MTF, your losses are deducted from your available margin immediately. If your stock drops, your “margin available” drops with it.<\/span><\/p>\n This is the most critical formula in the report: <\/span>-569,544.00.<\/span><\/p>\n In the report, this shows 569,544.00.<\/p>\n The magic number: <\/span>0.00.<\/p>\n Page 1 of the report also provides a detailed table breakdown by stock (Scrip). This is useful if you hold multiple stocks, as it shows you which specific stock is eating up your margin.<\/span><\/p>\n Let’s look at the entry for SUZLON ENERGY LIMITED:<\/p>\nWhat is MTF Daily Report?<\/b><\/h2>\n
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<\/p>\n1. Client Code & Name<\/b><\/h3>\n
2. MTF Ledger Amount<\/b><\/h3>\n
3. Funding Stock Value<\/b><\/h3>\n
4. Margin Required (A)<\/b><\/h3>\n
5. MTOM Loss (B)<\/b><\/h3>\n
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6. Total Margin Required (A + B)<\/b><\/h3>\n
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7. MTF Cash Collateral (C)<\/b><\/h3>\n
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8. Excess \/ Shortfall<\/b><\/h3>\n
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Part 5: The “Scrip” Details (Stock-Level Analysis)<\/b><\/h2>\n
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\n \nColumn<\/th>\n Value<\/th>\n Explanation<\/th>\n<\/tr>\n<\/thead>\n \n Quantity<\/td>\n 30,000<\/td>\n Total shares held.<\/td>\n<\/tr>\n \n Funded Value<\/td>\n 1,789,800.00<\/td>\n Total purchase cost of the position.<\/td>\n<\/tr>\n \n CL Rate<\/td>\n 57.38<\/td>\n The Closing Rate (market price) of the stock on that date.<\/td>\n<\/tr>\n \n Market Value<\/td>\n 1,721,400.00<\/td>\n Current value: 30,000 (shares) \u00d7 57.38 (price).<\/td>\n<\/tr>\n \n Haircut<\/td>\n 28.00%<\/td>\n Crucial Metric: This is the risk discount. A 28% haircut means the broker considers the stock volatile; only 72% of the value is counted as effective collateral.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n