Introduction of Straight Through Processing

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..... The Indian securities market has undergone through a rapid expansion during the last decade such as dematerialization, rolling settlement, shorter settlement cycles etc. Presently trades are settled in the stock exchanges on T+3 basis. Further, it is also decided to gradually move from T+3 settlement period to T+2 and T+1 settlement period by March 2004. The process of trade .....

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..... ommittee comprising of representatives from various market intermediaries and from the Reserve Bank of India. The Committee in its report has observed and recommended the following : Markets throughout the world are continually looking for new investment opportunities. Foreign Investment into India will be determined, not only, on investment opportunity but also on the operationa .....

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..... and introduce STP for electronic trade processing with a common messaging standard i.e. ISO 15022 with effect from December 02, 2002. You are advised to bring this to the notice of all your constituents and take necessary steps to implement STP by the aforesaid date. Please acknowledge receipt. Yours faithfully R.M. JOSHI EXECUTIVE DIRECTOR .....

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