Clarification for circular no. DNPD/Cir-25/04 dated June 10, 2004

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..... Sir, 1. This is a clarification to our previous circular no. DNPD/Cir-25/04 dated June 10, 2004 which outlined the transaction work flow for the system of Straight Through Processing (STP) in the Indian Securities Market and standardisation of the messaging formats. 2. The circular prescribed a standardized transaction work flow for the STP system whereby STP users shall be required to use IFN .....

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..... intended use of the messaging format on account of the messaging descriptors. 4. Accordingly it is clarified that the descriptors as stated in the said circular shall mean the following: 1. IFN 540: settlement instruction for a buy trade free of payment 2. IFN 541: settlement instruction for a buy trade against payment 3. IFN 542: settlement instruction for a sell trade free of payment 4. IF .....

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