Tuesday October 15 2024
News Source: Global Exchanges
Focus: Holidays and Opening Hours and suspensions
Type: General
Country: India
On 10th October 2024, the Securities and Exchange Board of India (SEBI) published a circular regarding the Change in timing for securities payout in the Activity schedule for T+1 Rolling Settlement.
SEBI vide circular reference number SEBI/HO/MIRSD/MIRSDPoD1/P/CIR/2024/75 dated June 5, 2024, has mandated that the pay-out of securities be credited directly to the client account by the Clearing Corporations (CC). As prescribed in the circular, under Phase -1, the securities for pay-out in the equity cash segment (including netted cash and F&O Physical Settlement) shall be credited directly to the respective client’s demat account by the Clearing Corporations.
As a consequence of the above, the timing of the payout of securities shall be revised from 1:30 PM to 3:30 PM. Thus, as a result of Direct Payout, the securities shall be credited to the clients’ demat account on the same settlement day instead of one working day from the receipt of pay-out from the Clearing Corporation.
The Stock Exchanges, Clearing Corporations and Depositories are accordingly advised to:
- Make necessary amendments to the relevant bye-laws, rules and regulations for the implementation of the above decision, as may be necessary/applicable.
- Bring the provisions of this circular to the notice of the Market Participants and to disseminate the same on their website.
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