The National Stock Exchange (NSE) issued a notification regarding the Winding up of Mutual Funds Schemes ME (Series)
This has a reference to NSE circular no. 80/2023 (Download Ref No. NSE/CMTR/57414) dated July 03, 2023, regarding “Trading parameters for Mutual Funds Schemes that are in the process of winding up”.
The following has been stated namely: -
• The members are notified about the settlement procedure of trades executed in the ME series
• The Applicable Symbol file shall contain a record for the ME series.
• Trades executed in the ME series shall be cleared and settled on a gross obligation basis. Settlement shall be compulsorily done in dematerialized mode. All trades shall be settled under settlement type ‘Z’ and a settlement guarantee shall be provided.
• OTR window shall be available till on T Day as per applicable timings.
• Trades executed in the ME series shall be settled on a T+1 rolling basis.
• Early pay-in/ pay-in of securities for the ME series shall be done in Trade for Trade segment as per the existing procedure.
• Shortages, if any, shall be compulsorily closed-out at the highest price prevailing in the Exchange from the day of trading on the T Day or 20% above the official closing price on the T Day, whichever is higher.
• All other provisions regarding the settlement of trades applicable to the Capital Market Segment shall also be applicable mutatis-mutandis to this series
[Notification No. NCL/CMPT/57900]
