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Validation of Instructions for Pay-In of Securities from Client demat account to Trading Member (TM) Pool Account against obligations received from the Clearing Corporations - SEBI - SEBI/HO/MIRSD/DoP/P/CIR/2022/119

Extract

..... the securities or moneys of a client or clients for self or for any other client, SEBI has issued various circulars from time to time. 2. Further, SEBI circular no. SEBI/HO/MIRSD/DOP/P/CIR/2021/595 dated July 16, 2021, inter-alia, specifies that “Depositories may keep block on the securities in client’s demat account in respect of Intra or Inter depository transfer instruction till pay-in day. The blocked securities will be transferred only after checking against the client level net .....

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Validation of Instructions for Pay-In of Securities from Client demat account to Trading Member (TM) Pool Account against obligations received from the Clearing Corporations - SEBI

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..... continue. 4. In order to validate the Pay-In Instructions, the following process shall be put in place by the Depositories: Validation of transfer instruction details with CC obligation details 4.1. Depositories receive the debit instruction for the purpose of Pay-In, given either by client himself using depository’s online system or eDIS mandate or through depository participant based on physical DIS / digitally signed DIS given by client or POA / DDPI holder. 4.2. CCs shall provide clie .....

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Validation of Instructions for Pay-In of Securities from Client demat account to Trading Member (TM) Pool Account against obligations received from the Clearing Corporations - SEBI

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..... If the quantity in instruction is less than the obligation provided by CC, then the instruction will be carried out by the depositories. 4.6.2. If the quantity in instruction is more than the obligation provided by CC, then the instruction will be partially processed by the depositories (i.e., upto the matching obligation quantity). Trades Confirmed by Custodians: 4.7. This process shall not be applicable to clients having arrangements with custodians registered with SEBI for clearing and settl .....

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Validation of Instructions for Pay-In of Securities from Client demat account to Trading Member (TM) Pool Account against obligations received from the Clearing Corporations - SEBI

X X   X X   Extracts   X X   X X