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

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..... and Custodial Division -- Circular No. 20 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+ .....

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..... 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 Custodians shall adhere to the following activities for implementation of T+2 rolling settlemen .....

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