| SECURITIES AND EXCHANGE BOARD OF INDIA SECONDARY MARKET DEPARTMENT Mittal Court, A Wing, Gr. Floor, 224, Nariman Point, Mumbai 400 021 SMDRP/POLICY/CIR-11/99 May 7, 1999 The Presidents/Executive Directors/ Dear Sir, Trading and settlement of trades in dematerialised securities Please refer to our earlier circulars on the subject advising inter alia the list of scrips for compulsory settlement of trades in dematerialised form for the institutional investors viz., banks, mutual funds, domestic financial institutions, foreign institutional investors and OCBs. It has now been decided to add 41 more scrips as given in annexure A for compulsory dematerialised trading by institutional investors and OCBs with effect from May 31, 1999. It has further been decided that stock brokers/clearing house members shall give instructions to clearing house/clearing corporations for transferring the securities lying in the broker’s pool accounts/transit accounts to the respective beneficiary accounts immediately after the pay-out of each settlement. Stock brokers/clearing house member shall also ensure that the respective balance in their pool account/transit account maintained with the depository is brought to nil within fifteen days from the pay-out of the settlement. Yours faithfully, P. K. Kuriachen Sr.No. Company Name
|