Dematerialisation requirement and depository connectivity allow shifting securities from trade-for-trade to rolling settlement subject to verification. Stock exchanges may shift securities from Trade-for-Trade Settlement to normal Rolling Settlement where the issuer has established connectivity with both depositories and there are no other grounds for TFTS continuation. Prior to shifting, at least 50% of non promoter holdings must be dematerialised, evidenced by a certificate from the Registrar and Transfer Agent or, where no RTA exists, from a practicing Company Secretary or Chartered Accountant; exchanges must report the action in their Monthly/Quarterly Development Report.