The physical settlement shall be effected on Expiry+2 days in accordance with the settlement schedule issued by the Clearing Corporation periodically.


Pay-in / Pay-Out of securities :


The delivering client shall complete delivery instructions for transfer of securities to Depository pool account of member on settlement day by 2.00 p.m. or such cut-off time as stipulated by the respective depositories. 


The depositories shall credit the receiving members' pool account / clients’ beneficiary account in accordance with the pay-out instructions received electronically from Clearing Corporation on the settlement day. A new settlement type shall be introduced in consultation with depositories to facilitate separate identification.


Pay-in / Payout of Funds:


The funds pay-in / pay-out time specified by exchange on settlement day by 2.00 pm.