Abolish no delivery period for dematerialised scrips; permit direct close out at reduced mark up using latest closing price. Abolish the no delivery period for securities in compulsory dematerialised mode, to be implemented by exchanges without extension to coincide with rolling settlement. Permit direct close out of short deliveries where cum purchases cannot be acquired in auction, with a reduced mark up for such direct close outs. The reference price for close out shall be the latest available closing price at the exchange.