Finally, Carry Forward in Rolling Settlements (CFRS), a long awaited proposition is here in the Indian capital markets. BSE becomes the first Stock Exchange in the country to introduce Carry Forward facility in Rolling Settlements (CFRS). This comes as a swift move following the Risk Management measures for Rolling Settlements announced by SEBI on 15th November, 2000. BSE will introduce CFRS in the following 15 scrips identified by SEBI.

The following are the salient features of the CFRS system introduced by the Exchange:

• CFRS session would be held on the day following the trading day of any settlement, i.e., for transactions done on Monday (called T day, CFRS session would be held on Tuesday (T+1 day). This session will be concurrent with the normal tradins session.
• The System would have option to carry forward the positions for 1/2/3/4/5 days.
• In CFRS System, all members whether Type I or Type II are allowed to carry forward their positions.

BSE will hold its first Carry Forward session in Rolling Settlements on Tuesday, the 21st November, 2000. The members having an outstanding position in the following 15 scrips in Rolling Settlement No. DR165/2000-2001 on Monday, the 20th November, 2000 will have an option to carry forward the position in the CFRS session to be held on Tuesday, 21st November, 2000. The CFRS session would be held as per the following timings:

The Exchange hopes that the introduction of CFRS would improve the liquidity and depth in the market for the above mentioned scrips.

Sushil Bahl
General Manager
Corporate Communications

November 18, 2000