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NOTICES
Notice No.   20241010-48   Notice Date   10 Oct 2024
Category   Settlement/RMS   Segment   General
Subject   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.
Attachments   Annexure 2.pdf ; Annexure 1.pdf ;
Content

 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

2272 8223 / 5628 / 8169

Email id

Cm_settlements@icclindia.com

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