Fund to guarantee settlement of trades

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Full Text of the Document

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....in respective segment of a recognised stock exchange: 1[****] (2) In the event of a clearing member 2[or a participant] failing to honour his settlement obligations, the Fund shall be utilized to complete the settlement. (3) The corpus of the Fund shall be adequate to meet the settlement obligations arising on account of failure of clearing member(s) 3[or participant(s)]. (4) The sufficiency o....