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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (6261)	9/3/1999 1:32:00 AM
From: Mohan Marette	Read Replies (1) \| Respond to of 12475

NSE announces 3-day settlements Source : FE Sep 3, 1999, 8:03:15 AM In order to facilitate a switchover from account period settlement to compulsory rolling settlement, the National Stock Exchange has decided to introduce an additional shorter settlement cycle from Monday. This additional cycle will be of three trading days and is expected to help the trading members to accustom to the needs of a tighter rolling settlement cycle. Thus, the marketplace will now have three settlement cycles running simultaneously, the normal Bombay Stock Exchange's Monday to Friday cycle, the new NSE cycle from Monday to Wednesday and the normal NSE market segment of Wednesday to Tuesday. The new cycle will have a trading period between Monday and Wednesday and the settlement of this trade will take place on the following Wednesday. This will mean that the securities and funds pay out will take place on T+7 basis. In the new segment, settlement shall be effected on the subsequent Wednesday and the mode of settlement shall be demat only. Trading in this segment would be allowed only in securities where compulsory demat facility is allowed, which means that only 104 securities which have been put under the mandatory demat list will qualify. According to NSE officials, the new segment has been introduced following suggestion received from various trading members. According to an NSE member, the market segment will help the exchange to retain some of the business.