Calendar for the implementation of T+2 rolling settlement w. e. f. April 1, 2003

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... Sir, Depositories and Custodial Division -- Circular No. 19 Sub : Calendar for the implementation of T+2 rolling settlement w. e. f. April 1, 2003 It has been decided to shorten the settlement cycle from the existing T+3 rolling settlement to T+2 rolling settlement w. e. f. April 1, 2003. After detailed deliberations with various market participants, a time schedule for the implementatio....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....n turn advise the Depository Participants (DPs) to adhere to the designated activities within the prescribed time limits and therefore, the earlier circular no. D&CC/FITTC/CIR - 07/2002 dated April 8, 2002 stands modified w. e. f. April 1, 2003 as under: (1)    DPs shall accept instructions for pay-in of securities from clients in the physical form atleast upto 4 p.m. and in elec....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....y' (EOD) of the execution date, whichever is earlier. DPs would bring this to the notice of the client while accepting instructions. In case the account does not have sufficient balance before pay-in deadline or till EOD, such instructions will fail. Further in order to ensure the smooth implementation of T+2 rolling settlement by April 1, 2003 and to facilitate the implementation of T+1 ro....