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of <h1>SEBI Sets Criteria for Transition from Trade for Trade to Rolling Settlement; Demat Holdings Must Meet 50% Requirement.</h1> The circular from SEBI addresses the eligibility criteria for companies to shift from Trade for Trade Settlement (TFTS) to normal Rolling Settlement. Companies listed in Annexure 'A' have established connectivity with both depositories, NSDL and CDSL, as of April 2010. To transition to normal Rolling Settlement, at least 50% of non-promoter holdings must be in dematerialized form, verified by a Registrar and Transfer Agent or a certified professional. There should be no other reasons for maintaining TFTS. Stock exchanges are required to report their actions to SEBI in their Monthly/Quarterly Development Report.
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