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of <h1>SEBI Ends Hand Delivery Bargains/DVP for Transactions; Mandates Clearing Corporation Settlement from September 19, 2005.</h1> The circular from the Securities and Exchange Board of India (SEBI) announces the discontinuation of Hand Delivery Bargains/Delivery Versus Payment (DVP) for transaction settlements on stock exchanges. All transactions will now be settled through the Clearing Corporation/House to reduce settlement risk and transaction costs. This change will take effect on September 19, 2005. Hand Delivery Bargains/DVP will only be allowed under exceptional circumstances, such as connectivity failures, international holidays, or calamities. Stock exchanges must amend their rules accordingly and report implementation status to SEBI. Penalties may apply for certain trades settled through Hand Delivery Bargains/DVP.
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