Deferral products removal triggers compulsory liquidation and adoption of uniform settlement cycle pending rolling settlement expansion. All deferral products are withdrawn except under a transitional mechanism requiring phased compulsory liquidation of outstanding and subsequently taken deferred positions, with no new deferred positions permitted after the secondary cutoff; exchanges must monitor member positions and publish phased liquidation plans. Expansion of rolling settlement will bring additional scrips into compulsory rolling settlement, and securities not yet in compulsory rolling settlement will trade on a uniform settlement cycle across exchanges during the interim period.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Deferral products removal triggers compulsory liquidation and adoption of uniform settlement cycle pending rolling settlement expansion.
All deferral products are withdrawn except under a transitional mechanism requiring phased compulsory liquidation of outstanding and subsequently taken deferred positions, with no new deferred positions permitted after the secondary cutoff; exchanges must monitor member positions and publish phased liquidation plans. Expansion of rolling settlement will bring additional scrips into compulsory rolling settlement, and securities not yet in compulsory rolling settlement will trade on a uniform settlement cycle across exchanges during the interim period.
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