Revision of Activity Schedule of Auction Session

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..../DP/39/2010 dated December 28, 2010 (hereinafter referred to as "the said Circular")) in case of default by the selling broker in a normal settlement, the security delivered short is bought in the auction session (conducted on T+2 day) and is delivered to the buying broker on T+3 day. 2. Based upon suggestions of Clearing Corporations and Stock Exchanges and in order to facilitate the r....

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....ion) Act, 1956 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market. 5. The Stock Exchanges/Clearing Corporations are advised to: i. put in place the adequate systems and issue the necessary guidelines for implementing the above decision. ii. make necessary amendments to the relevant bye-laws, rules and regulations for th....