INDIA: BSE Publishes Revised Timings for Custodian Confirmation

Thursday August 4 2022

On 1^st August 2022, the Bombay Stock Exchange (BSE) published a circular regarding revised timings for Custodian confirmation (Take-up) for T+1 settlement in equity cash segment.

Members and Custodians are informed that:

1. For T+1 settlement, order to trade ratio (OTR) session will be till 7:00 p.m. on T day and Custodian confirmation session timings will be till 7:30 a.m. on T+1 Day.

There will not be any change in timing and process for following:

• OTR allocation by trading members
• Early pay-in for funds and securities
• Margin reporting for non-institutional trades
• Pay-in and Pay-out of funds and securities

2. All existing provisional obligation files of clearing and settlement for T+1 settlement will be provided on T day and the final obligation files pertaining to T+1 settlement will be provided by 9:00 a.m. on T+1 day after completion of custodian confirmation session.

AutoDO in depository system will be uploaded on T+1 day after completion of final obligation process.

Clearing Members and Custodians are requested to ensure completion of their securities pay-in as per depository pay-in cut off timings and funds pay-in as per the prescribed timelines.

3. There shall be no change in the reports downloaded to members on T and T+1 day, wherein there are no Commercial paper (CP)/OTR trades. Hence Members who do not have any CP / OTR trades (custody confirmation trades) may consider the reports downloaded on T day towards final obligations.

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