The Central Depository Services (India) Limited (CDSL) on October 30, 2024, issued a circular regarding the change in timing for securities Pay-out in the activity schedule for the T+1 rolling settlement.
DPs are advised to take note of SEBI circular no. SEBI/HO/MRD/MRD-PoD-2/P/CIR/2024/137 dated October 10, 2024, and CDSL communique CDSL/OPS/DP/P OLCY/2024/607 dated October 11, 2024, regarding change in timing for securities pay-out in the activity schedule for T+1 Rolling Settlement.
As per the extant Activity Schedule for T+1 Rolling Settlement, under Para 1.4 of Chapter 3 of the SEBI Master circular on Stock Exchanges and Clearing Corporations (CC) dated October 16, 2023, CCs are required to submit pay-out to depositories till 1:30 pm on a settlement day. The present pay-out primarily consists of pay-out to Clearing Member (CM) Pool accounts, with the option of client-level pay-outs. Subsequently, the pay-out received in CM’s Pool Account is transferred by CMs to respective client accounts.
[Circular No. CDSL/OPS/DP/SETT/2024/656]
