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

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..... 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 market participants, a time schedule for the implementation of T+2 rolling settlement beginning from April 1, 2003 was .....

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..... ime limits and therefore, the earlier circular no. D&CC/FITTC/CIR - 07/2002 dated April 8, 2002 stands modified w. e. f. April 1, 2003 as under: (1) DPs shall accept instructions for pay-in of securities from clients in the physical form atleast upto 4 p.m. and in electronic form atleast upto 6 p.m. on T+1. (2) DPs shall complete execution of pay-in instructions latest by 10:30 a. m. on T+2. (3 .....

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..... instructions will fail. Further in order to ensure the smooth implementation of T+2 rolling settlement by April 1, 2003 and to facilitate the implementation of T+1 rolling settlement from April 1, 2004, the Depositories shall initiate the following steps: (1) Implementation of real time online connectivity between the Depositories. (2) Depositories would be required to design a system so that .....

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