At PM Securities clients can sell pledged shares unlike at most other brokers. We manage the backend operations of ensuring that the shares get auto un-pledged when sold and ensure better liquidity to client. Due to introduction of peak margins and to improve operational efficiencies we now need to introduce a new mechanism to sell pledged shares.
Selling of pledged shares will still be allowed at PM Securities however, from 16th March 2021 (Tuesday) onwards dealers / clients shall be required to 'Release' the pledged shares from FastTrade / MarketPulse before entering a sell order for such shares.
Here's how you do it:
Step 1: Open 'Client Dashboard' tab in FastTrade / MarketPulse (Shortcut key: Cntrl+D), navigate to 'Assets' tab and find the pledged holding that you wish to Sell. Right click the holding and click 'Release'
Step 2: Enter the 'Quantity' that you wish to 'Release' in-order to sell and click 'Submit'
That's it now you'll be able to sell shares normally using the 'Overnight' product.
Note: If you face any difficulties in selling the shares after you've released them please go to Tool > Download Reports, Select 'ALL' and click ok. Then try selling the said shares.
