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The Securities and Exchange Board of India’s (Sebi’s) mandated peak margin reporting norms have come into force from Tuesday. While the new norms are expected to make the environment safer, intraday traders will need to adapt their strategies. Until now, the margin was collected on the basis of the end-of-the-day positions. Exchanges would send a file in the evening and brokers would ensure their clients had 100 per cent of the required margin in their accounts for positions carried over to the next day. Suppose a client held one lot of Nifty futures at the end of, say, Monday. If the margin required was Rs 1.6 lakh, he/she would have had to have this amount in his/her account. Suppose on Tuesday, he/she buys two more lots. His/her peak position during the day will rise to three lots. At 1 pm, he/she sells the two lots. Under the earlier system, on Tuesday evening, too, his/her margin requirement would be Rs 1.6 lakh.