June 29, 2019
Sub.: Give-up/ Take-up to be based on the traded price instead of the contract value in the Equity Cash Segment under interoperability framework.
Members and Custodians are hereby informed that the ICCL Notice No.20190628-62 dated June 29, 2019, on the captioned subject will not be implemented w.e.f. Trade Date July, 01, 2019, Sett.No.1920063 (i.e Give-up/Take-up from July 02,2019), the revised date of implementation will be informed later.
Accordingly, there will not be any change in existing process of Give-up / Take-up till further instruction.
However, Members and Custodians are requested refer Notice No.20190614-19 and note that, trades executed under only INST and SPLCLI should be uploaded for Give-up / Take-up (6A/7A) process, accordingly the Give-up / Take-up for the positions in the client type other than INST and SPLCLI will not be considered for settlement through Custodian and same will be part of clearing member’s obligation.
There will not be any change in the existing file format for Give-up/Take-up for trading members and Custodian in RTRMS
All other norms/processes for Give-up/Take-up process for Equity Cash Segment will remain unchanged.
For any clarifications, members / custodian may contact their respective Relationship Managers or on any of the following contact nos.:
For Indian Clearing Corporation Ltd.
Sanjay Narvankar Ajay Darji
Dy. General Manager Asst. General Manager