Sub: Enhancement of operational efficiency and Risk Reduction – Operating guidelines for Pay-out of securities directly to client demat account – CUSPA / CSMFA & Internal Auction Vis-Vis Self Auction – Change In Payout Schedule & Revision In Implementation Date.
All Members/ PCMs,
This has reference to SEBI circular ‘Enhancement of operational efficiency and Risk Reduction - Pay-out of securities directly to client demat account’ reference number SEBI/HO/MIRSD/MIRSD-PoD1/P/CIR/2024/75 dated June 05, 2024 & ICCL circular 20240606-37 dated June 06, 2024.
Further, ICCL has issued detailed SOP guidelines on implementation of ‘Pay-Out of Securities Directly to Client Demat Account’, circular reference number 20240902-8 dated September 02, 2024.
- To CUSPA / CSMFA marking, carrying reference no 20240930-11 dated 30th Sep 2024;
- Internal Auction Vis-Vis Self Auction, carrying reference no 20241003-35 dated 03rd Oct 2024.
- Clarification on CUSPA / CSMFA & Internal Auction Vis-Vis Self Auction, carrying reference no 20241008-62 issued on 8th Oct 2024
Moreover, we would like to bring it to your attention that SEBI has issued 2 circulars guiding on below points:
- Change in Pay-Out schedule. (Annexure 1)
- Revision in Implementation date of ‘Direct Pay-Out To Client’. (Annexure 2)
Members are requested to take note of the contents of the circular and comply.
For and on behalf of the Indian Clearing Corporation Limited.
Akshat Chaturvedi Mrunal Amberkar
General Manager Senior Manager
Operations Operations
Telephone No
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2272 8223 / 5628 / 8169
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Email id
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Cm_settlements@icclindia.com
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