Validation of Instructions for Pay-In of Securities from Client demat account to Trading Member (TM) Pool Account against obligations received from the Clearing Corporations

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..... / Sir, Sub: Validation of Instructions for Pay-In of Securities from Client demat account to Trading Member (TM) Pool Account against obligations received from the Clearing Corporations 1. In order to protect clients' funds and securities and to ensure that the Stock Broker segregates securities or moneys of the client or clients and does not use the securities or moneys of a client or clients f .....

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..... s, particularly those given towards delivery/settlement obligations. Accordingly, the following is decided: 3.1. Depositories, prior to executing actual transfer of the securities for Pay-In from client demat account to TM Pool account, shall validate the transfer instruction received through any of the available channels for the purpose of Pay-in, i.e. either initiated by clients themselves or .....

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..... .3. Based on the obligation data provided by CCs, Depositories shall validate the depository transfer instruction details with CC obligation details based on UCC, TM ID, CM ID, Exchange ID, ISIN, quantity, settlement details etc. Matched instruction: 4.4. In case of matching of all details like UCC, TM ID, CM ID, ISIN, quantity, settlement details etc. of the transfer instruction with the obli .....

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..... ly processed by the depositories (i.e., upto the matching obligation quantity). Trades Confirmed by Custodians: 4.7. This process shall not be applicable to clients having arrangements with custodians registered with SEBI for clearing and settlement of trades. 5. Depositories and CCs shall put in place appropriate systems to ensure compliance of the provisions of this circular. 6. This circu .....

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