Settlement cycle amendment: exchanges must ensure payment and delivery within twenty-four hours to enable T+2 settlement. Approval was granted for amending bye-law No. 228(3) to require members to make payment to constituents and deliver purchased securities within twenty-four hours of payout to implement a T+2 rolling settlement; prior publication of the amendment in the official gazette was dispensed with in the public interest to permit immediate effectuation of the shortened settlement cycle.
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Settlement cycle amendment: exchanges must ensure payment and delivery within twenty-four hours to enable T+2 settlement.
Approval was granted for amending bye-law No. 228(3) to require members to make payment to constituents and deliver purchased securities within twenty-four hours of payout to implement a T+2 rolling settlement; prior publication of the amendment in the official gazette was dispensed with in the public interest to permit immediate effectuation of the shortened settlement cycle.
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