Clearing & Settlement Process
A) 91-day Government of India (GOI) Treasury Bill Futures

The settlement of 91-day T-Bill future contracts would be settled in cash in Indian Rupees. The daily mark-to-market settlement of 91-day T-Bill future contracts would be settled in cash on T+1 day basis as per the timelines specified by ICCL.
The expiry/last trading day/final settlement day for the 91-day T-Bill future contract would be the last Wednesday of the expiry month. If any expiry day is a trading holiday, then the expiry/ last trading day/ final settlement day would be the previous trading day. The final settlement of currency derivatives contracts would be effected on T+1 day basis as per the timelines specified by ICCL.
Daily and Final settlement value for 91-day T-Bill future contracts would be as prescribed in BSE Circular No. 20131126-18 dated November 26, 2013or as may be specified by BSE/ICCL from time to time.



B) 10 Year Government of India Futures

The Interest Rate Futures (IRF) contracts on 10 Year Cash Settled Government Securities would be settled in cash in Indian Rupees.
The daily mark-to-market settlement of said IRF contracts would be settled in cash on T+1 day basis as per the timelines specified by ICCL.
The expiry/last trading day/final settlement day for the said IRF contracts would be the last Thursday of the expiry month. If any expiry day is a trading holiday, then the expiry/ last trading day/ final settlement day would be the previous trading day. The final settlement of currency derivatives contracts would be effected on T+1 day basis as per the timelines specified by ICCL.

Daily and Final settlement value of the said IRF contracts would be as prescribed in BSE Circular No. 20140111-1 dated January 11, 2014 or as may be specified by BSE/ICCL from time to time.

The pay-in and pay-out of daily mark to market settlements and final settlement would be affected in accordance with the settlement schedule issued by ICCL periodically. The members should maintain clear balance of funds in their settlement account with their designated clearing bank towards their funds pay-in obligation at the scheduled pay-in time (at present on or before 8.30 a.m.) on the settlement day.