Settlement Cycle
Settlement of EGR shall be on T+1 rolling basis. Normal/ Auction Market EGR settlement cycle shall be as under or as specified by SEBI from time to time
Sr. No. | Day | Description of activity |
1 | T | Trade Day |
2 | T+1 | Pay-in/Pay-out of EGR and funds |
3 | By T+1 | Auction session |
4 | By T+2 | Auction Pay-in/pay-out and close-out of auction |
In case of multiple settlements conducted on the same day, the auction session for the first settlement shall be conducted on the same day and settled on the next day. The auction for the second settlement shall be conducted on the next day along with the shortages/auction of that day. The settlement of the same shall happen on the subsequent day.
The activity schedule for EGR segment shall be as under or as specified by SEBI from time to time:
Sr. No. | Day | Time | Description of activity |
1 | T |
| Trade Day |
By 2.00 AM | Completion of process and download provisional obligation files to members/ custodians | ||
2 | T+1 | By 2.00 PM | Funds and EGR pay-in |
By 4.30 PM | Funds and EGR pay-out |
In case of settlement holiday Clearing Corporation shall clear and settle the trades on a sequential basis i.e., the pay-in and the pay-out of the first settlement shall be completed before the commencement of the pay-in and pay-out of the subsequent settlement.
Trade time
Trading Session | Timings |
Normal market Open | 09:00 hrs |
Normal market Close (T+1 Settlement) | 23:30 hrs / 23:55 *hrs |
Trade and trade modification timelines shall be as specified by exchange from time to time.
Obligation Computation
Transactions shall be settled on gross basis at the clearing member level. Netting shall be done for funds and securities at client level. The funds and securities shall be settled on gross basis at clearing member level.
Government taxes and levies
Stamp duty: The stamp duty shall be levied as per rates prescribed under Schedule 1 of the Stamp Act in following manner:
0.003% on the transfer of security other than debenture other than delivery basis
0.015% on the transfer of security other than debenture on delivery basis
Securities Transaction Tax (STT): STT is not applicable in EGR segment.
Early pay-in of Securities
Members/clients shall have facility to provide early pay-in of securities either by way of block mechanism or pool mechanism as per procedure prescribed by depositories. Where member is providing early pay-in by way of pool on behalf of client, the member will be required to provide details of client wise allocation of epi of securities.