Auction session settlement timing revised to allow clearing corporations flexibility to conduct settlement on or before the next scheduled day. The circular permits Clearing Corporations discretion to schedule settlement of auction trades on or before the previously prescribed close-out day to accelerate delivery; it preserves the auction/close-out sequencing and leaves other provisions unchanged. Recognized Stock Exchanges, Clearing Corporations and Depositories must update systems, amend bye-laws, notify members and intimate SEBI. The circular is issued under Section 11(1) of the SEBI Act read with Section 10 of the Securities Contracts (Regulation) Act to protect investors and regulate the securities market.
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Auction session settlement timing revised to allow clearing corporations flexibility to conduct settlement on or before the next scheduled day.
The circular permits Clearing Corporations discretion to schedule settlement of auction trades on or before the previously prescribed close-out day to accelerate delivery; it preserves the auction/close-out sequencing and leaves other provisions unchanged. Recognized Stock Exchanges, Clearing Corporations and Depositories must update systems, amend bye-laws, notify members and intimate SEBI. The circular is issued under Section 11(1) of the SEBI Act read with Section 10 of the Securities Contracts (Regulation) Act to protect investors and regulate the securities market.
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