Sub: Validation of Instructions for Pay-In of Securities from Client demat account to Trading Member (TM) Pool Account against obligations received from the Clearing Corporations
With reference to SEBI circular SEBI/HO/MIRSD/DoP/P/CIR/2022/119 dated September 19, 2022 regarding “Validation of Instructions for Pay-In of Securities from Client demat account to Trading Member (TM) Pool Account against obligations received from the Clearing Corporations”.
Member’s attention is drawn towards clause 4.5 of the aforesaid circular which states as follows:
“In case of discrepancies in details like UCC, TM ID, CM ID, ISIN etc. between instruction and obligation, such transfer instructions will be rejected by the depositories.”
Members are requested to ensure correctness of above details at all MIIs, as any rejection thereof will result into shortage in fulfilment of pay-in obligation and are advised to refer to their various depository reports to meet their securities pay-in obligation on settlement day.
Members are requested to refer the various circulars issued by NSDL and CDSL from time to time, in this regard, for mandatory block mechanism and pay-in validations.
Further, members will NOT be required to upload client breakup EPN file in case of early pay-in of securities which is done through Block Mechanism with UCC or eDIS facility of Depositories. Early pay-in benefit in case of such Block Mechanism or eDIS early pay-in will be provided based on respective UCC details provided by the Depositories in their early pay-in details to ICCL.
For any clarifications, Members may contact their respective Relationship Managers or on any of the following contact nos.:
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Team
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email
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Coordinates
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ICCL Settlement
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bse.csd@bseindia.com
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22728468/5628/8223/5163/ 5822 / 8169
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Help Desk
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bsehelp@bseindia.com
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45720400 / 45720600
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For Indian Clearing Corporation Ltd.
Sanjay Narvankar Ajay Darji
ADGM Dy. General Manager
Date: November 11, 2022 |