This has reference to the Exchange notice no. 20240911-56 dated September 11, 2024 on the subject “Enhancement of operational efficiency and Risk Reduction - Pay-out of securities directly to client demat account” wherein it was mentioned that ICCL vide Notice No 20240902-8 dated September 02,2024 and NCL vide Circular No. NCL/CMPT/63669 dated August 30, 2024 have provided detailed guidelines including standard operating guidelines of ‘Pay-out of securities directly to client demat account’ and Trading Members have been advised to comply with provisions of said CCs circulars applicable to them.
As per point number 14 (V) of Annexure 1 "Standard Operating Guidelines - Pay-out of Securities directly to client demat account" annexed to the aforesaid circulars of Clearing Corporations, Members are advised to note following guidelines:
1. For the instances where auction for internal shortages was not successful on account of non-upload or incorrect upload or upload of partial requests or where internal shortage was reported but auction was not successful, such shortages shall be closed out as per close out price specified by the respective CC.
2. For instances where member has not reported the internal shortage for auction to CC, on account of non-upload or incorrect upload or upload of partial requests, the cost differential on account of close out shall be borne by defaulting member and shall not be passed on by member to clients.
3. CC will provide report to members with details of close-out price in respect of all securities.
Members are requested to take note of the contents of the circular and comply.
In case of any clarifications, members may contact us on details given as under:
For and on behalf of BSE Ltd.
Sandeep Sharma Kaustubh Mundada
Asst. General Manager Asst. General Manager
Member Oversight Member Oversight
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