21 January 2010
In Rolling Settlement Each day constitutes an accounting period and that days trades are settled after 2 – 3 days. (T + 3) rolling settlement was in operation in India upto 31st March, 2003, which was switched on to “T+2†rolling settlement system from 1st April, 2003.Trades outstanding at end of day are to be settled within ‘X’ business days form transaction. Trades on each single day settled separately from trades done earlier or subsequent trade days.Netting of trades is done only for the day & not for multiple days (as earlier in settlement period). ï† T+2, transaction on Monday pay in & pay out takes place on Wednesday. ï† If member fails to deliver shares sold the exchange conducts an auction session on T+3 to meet short fall due to non-delivery. regards, CA Jatin Bansal
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