Trading and settlement of trades in dematerialised securities - SEBI - SMDRP/POLICY/CIR-32/2001

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-32/2001 June 12, 2001 To, All Stock Exchanges/Depositories/ Custodians and AMFI/RAIN Dear Sirs, Trading and settlement of trades in dematerialised securities Please refer to our earlier circular no. SMDRP/Policy/Cir-49/2000 dated October 16, 2000 advising that there should be a time gap of three months between the date for establishing connectivity by the companies with both the depositories and the date of commencement of compulsory dematerialised trading. It was further advised that the date announced for compulsory dematerialised trading for the scrips as per SEBI circular no. SMDRP/POLICY/Cir-23/2000 dated May 29, 2000 would henceforth be treated as the date by which the company should establish connectivity with both the depositories. The compulsory dematerialized trading in these companies will commence after three month from that date. It was also mentioned in the circular that the companies which fail to establish connectivity with both the depositories on the scheduled date would be traded only on the 'trade for trade' settlement window of the exchanges from the following settlement period. Currently scrips of 723 companies have been included for trading only on 'trade for trade' settlement window of the exchanges. Out of these, 90 companies ( annexure 'A' ) have established connectivity with both the depositories. These scrips shall be traded on the normal trading segment where deliveries can be made either in physical or dematerialised form with effect from June 18, 2001 and compulsorily in dematerialised form 3 months after that date i.e. from September 24, 2001. Yours faithfully, P. K. KURIACHEN DEPUTY GENERAL MANAGER SECONDARY MARKET, DEPOSITORIES, RESEARCH PUBLICATIONS DEPARTMENT