COMMENTARY
INTERVIEW
SPECIALS
CHAT
ARCHIVES

NSE trades of Oct 1 to be merged with next settlement

Authorities at the National Stock Exchange on Tuesday decided that trades of October 1 executed on the NSE will be merged with next settlement commencing October 9.

The executive committee of the NSE, which met soon after the meeting of the Committee on Settlement Issues, approved the recommendations made by the COSI including merging the trades executed on October 1 in next settlement.

The COSI met to determine the course of action for trades executed October 1, the only day NSE could function during the settlement no 40 due to failure of satellite connectivity of INSAT 2D. After considering all alternatives, COSI unanimously recommended that trades of October 1 be merged with the next settlement commencing on October 9.

This was announced by the exchange authorities at a joint press conference of the members of the COSI and the authorities.

NSE Managing Director R H Patil, Deputy MD Ravi Narain, COSI Chairman Dey, were present at the conference.

The exchange authorities said that securities that were traded on cum-benefit basis on October 1, will be settled in a special settlement. Trading for these securities will be permitted on a cum-basis on October 9, and will be settled as special settlement.

Pay-in and pay-out of these cum-benefit securities will be settled on October 13 and October 15 respectively.

The auction that was scheduled on Wednesday, October 8, is being rescheduled and will be held along with the regular auction for the next week.

EARLIER REPORTS
NSE to resume trading from October 9
INSAT-2D snag hits NSE trading

UNI