Activity schedule for Rolling settlement on T+3 basis from April 01, 2002

Mar 26, 2002

Press Releases

Press Release

March 26, 2002
Ref.No.PR 64/2002

SECONDARY MARKET DEPARTMENT

Activity schedule for Rolling settlement on T+3 basis from April 01, 2002

It had been decided earlier that the rolling settlement cycle on T+3 basis will commence from April 01, 2002. The following activity schedule has been decided for the exchanges for the T+3 rolling settlement:-

S. No.	Day	Description of activity
1	T	Trade Date
2	T+1	Custodial Confirmation
3	T+3	Securities and Funds pay-in / Securities and Funds pay-out The exact timings of pay-in and pay-out would be specified by the respective exchanges.
4	T+4	Auction of shortages in deliveries
5	Not later than T+6	Auction pay-in and pay-out. The exact timings of auction pay-in and pay-out would be specified by the respective exchanges. The auction pay-in and pay-out would be conducted as soon and possible it should not in any case be later than T+6.

There would be overlapping settlements due to trades done on T+5 basis upto March 31, 2002 and the commencement of T+3 rolling settlement from April 01, 2002. As two settlements would be conducted on a single day it has been decided that, these settlements would be settled separately and would not be clubbed.