Calendar for the implementation of T+2 rolling settlement w. e. f. April 1, 2003

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..... ces (India) Limited Dear Sir, Depositories and Custodial Division -- Circular No. 19 Sub : Calendar for the implementation of T+2 rolling settlement w. e. f. April 1, 2003 It has been decided to shorten the settlement cycle from the existing T+3 rolling settlement to T+2 rolling settlement w. e. f. April 1, 2003. After detailed deliberations with various mar .....

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..... . Processing and downloading of obligation files to brokers / custodians 3 T+2 By 11:00 a.m. Pay-in of securities and funds By 1:30 p.m. Pay-out of securities and funds The Depositorie .....

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..... ng Corporation latest by 11:00 a.m. on T+2. (4) Pay-out of securities by the exchange / Clearing House / Clearing Corporation to the Depositories by 1:30 p.m. on T+2. (5) Pay-out of securities to be completed by the Depositories by 2:00 p.m. on T+2. (6) All instructions received by the Depository Participants must have an execution date. The execution date can b .....

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..... earing Corporation would be able to implement a system of online transmission of client-wise pay-in obligations to the depository so that the depository in turn could download the security pay-in instructions to DPs in respect of the investor maintaining account with them. (3) Depositories are also required to put up systems to facilitate settlement of transactions by the Clearing Hous .....

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