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Wednesday, Mar 27, 2002

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Activity schedule for T+3

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MUMBAI: Rolling settlement on T+3 basis will begin from April 1. The Securities and Exchange Board of India (SEBI) today released the activity schedule for trading under T+3 basis. The exact timing of the pay-in and pay-out would be announced by the stock exchanges.

The auction pay-in and pay-out would be conducted as soon as possible and it should not in any case be later than T+6.

There would be overlapping settlements due to trades done on T+5 basis up to March 31 and the commencement of T+3 rolling settlement from April 1.

According to SEBI, as two settlements would be conducted on a single day it had been decided that these settlements would be done separately and not clubbed.

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