Rolling Settlement On T+3 BASIS commence from April 01, 2002. - SEBI - SMD/Policy/Cir-04 /2002

Circulars Deputy General Manager Secondary Market Department e-mail : [email protected] SMD/Policy/Cir-04 /2002 January 30, 2002 The Executive Directors/Managing Directors All the stock exchanges Dear Sir/ Madam, Pursuant to discussion in the meeting of the Group on Risk Management Systems for the Equity Markets which met on December 19, 2001 and with a view to derive benefits of increased efficiency it has been decided to shorten the rolling settlement cycle from the present T+5 to T+3. The compulsory rolling settlement on T+3 basis would commence from April 01, 2002. The stock exchanges are advised to make the necessary arrangements/ modifications in their systems to implement the rolling settlement on T+3 basis for all listed securities from April 01, 2002. Yours faithfully D RAVIKUMAR