Clarification for circular no. DNPD/Cir-25/04 dated June 10, 2004

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....ular no. DNPD/Cir-25/04 dated June 10, 2004 Dear Sir, 1. This is a clarification to our previous circular no. DNPD/Cir-25/04 dated June 10, 2004 which outlined the transaction work flow for the system of Straight Through Processing (STP) in the Indian Securities Market and standardisation of the messaging formats. 2.  The circular prescribed a standardized transaction work flow for t....

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.... some confusion in certain sections of the market with respect to the intended use of the messaging format on account of the messaging descriptors. 4.  Accordingly it is clarified that the descriptors as stated in the said circular shall mean the following: 1. IFN 540: settlement instruction for a buy trade free of payment 2. IFN 541: settlement instruction for a buy trade against pa....