Rolling settlement of shorter duration - SEBI - SMDRP/Policy/Cir-40/2001

Circulars SECURITIES AND EXCHANGE BOARD OF INDIA SECONDARY MARKET DEPARTMENT Mittal Court, B Wing, First Floor, 224, Nariman Point, Mumbai 400 021 SMDRP/Policy/Cir-40/2001 July 25, 2001 The President/Executive Director/Managing Director of all the Stock Exchanges Dear Sir/Madam, Sub:- Rolling settlement of shorter duration. We have been receiving requests from the exchanges for the introduction of the rolling settlement at the exchanges of duration shorter than T+5. It is advised that the sub-group of the Group on Risk Management in the Equity Markets had considered the issue of the rolling settlement of a shorter duration and it was of the opinion that to begin with the stock exchanges should introduce the rolling settlement only on a T+5 basis. Accordingly, the stock exchanges are advised that, to start with, the rolling settlement would be only on a T+5 basis. Rolling settlements of a shorter duration would be considered at a later date. Yours faithfully, P K Bindlish General Manager Secondary Market Depository, Research Publications Department e-mail : [email protected]