WHOLESALE DEBT MARKET
Download Ref. No. NSE/WDM/6313††††††††††††††††††††††††† †††††††††††††† †††††††† †June
Circular No: 144
Dear Members and Participants,
Sub: Transaction in Government
Reserve Bank of India (RBI) vide circular
no. IDMD.PDRS/4783/10.02.02/2004-05 dated May 11, 2005 and Exchange vide circular no. 141 (Download Ref. No. NSE/WDM/6158) dated May 18, 2005, members had been
advised that settlement of all outright secondary market transactions in
government securities will be standardized to T+1. In case of repo transactions
in government securities, first leg can be settled either on T+0 basis or T+1
basis. The above guidelines came into effect from May 24, 2005.
As accounting units of the
Reserve Bank will remain closed for public transactions on account of annual
closure of accounts, settlement of G-sec transactions will not take place on July 01, 2005. As per RBIís
notification on Negotiated Dealing System (NDS) the T+1 settlement of all G-Sec
transactions done on June 30, 2005
would be July 02, 2005.
Further there will be no T+0 transactions on July 01, 2005. The T+1 transactions contracted on July 01, 2005 will, as usual, settle
on July 02, 2005.
Pursuant to above notification,
the Exchange has decided settlement in Government securities on July 02, 2005 only for outright transaction
done on June 30, 2005.
Further there will be no T+0 settlements in Government securities transaction
on July 01, 2005.
For National Stock Exchange of
Manager CM & WDM
Note:†† For clarifications, please contact Mr.
Sunil Gawde / Mr. Fabian Gonsalves / Ms. Prachi Bhat on 26598285.