To All Clearing Members and Custodians,
Attention of Clearing Members and Custodians of Indian Clearing Corporation Ltd. (ICCL) is drawn to ICCL circular nos. 20190415-8, 20190415-10, 20190415-11, 20190415-12 dated April 15, 2019, circular no. 20190426-32 dated April 26, 2019, circular no. 20190430-39 dated April 30, 2019, circular no. 20190528-36 dated May 28, 2019 and circular No.20190529-3 dated 29 May 2019 regarding Interoperability framework among Clearing Corporations.
Further, clarifications pertaining to the following processes are provided in Annexure-I:
1) Adjustment of brokerage and other amounts under Give-up / Take-up functionality.
2) Valuation Debit in respect of security shortage in a settlement.
3) Security Shortages Close-out norms/procedure.
4) Position portability in Equity Derivatives and Currency Derivatives Segments under the Interoperability framework.
5) Position shifting in Equity Cash Segment under the Interoperability framework.
6) Common CP code to be used by all members.
7) New file format for early pay-in to be used.
8) VaR files by ICCL under Interoperability framework.
All these aforesaid changes shall, in addition to the other functionalities, be implemented w.e.f. June 3, 2019, for all members even if they choose to operationalise their interoperability from later dates (i.e. June 10, 17, 24 or July 1, 2019).
Members/Custodians are requested to take note of the above for necessary changes, if any, in their respective systems.
For more details members/custodians may refer the aforesaid circulars.
For any clarifications, Members may contact their respective Relationship Managers or any of the following team officials:
For and on behalf of Indian Clearing Corporation Ltd.
Piyush Chourasia Ajay Darji
Chief Risk Officer & Head – Strategy Asst. General Manager