Delivery Procedure

Auto Delivery Out

For pay-in through NSDL / CDSL a facility has been provided to members wherein delivery-out instructions will be generated automatically by the Clearing Corporation based on the net delivery obligations of its Clearing Members. These instructions will be released on the T day and the securities in the Clearing Members’ pool accounts will be marked for pay-in.

Further, a facility is provided to the members to directly credit the pay-out to investor’s beneficiary account. Clearing members shall provide a file to Clearing Corporation for effecting pay out to investors' accounts for a particular settlement type and settlement number.

Failure to deliver

Failure of the seller to deliver bonds shall result in buy-in auction for the bonds by Clearing Corporation as per auction schedule declared periodically. The auction amount shall be charged to the short delivering member. Failure to procure bonds in auction or failure of auction seller to deliver bonds in part or full on auction pay-in day, shall result in close out. The financial close out shall take place at highest price on Trade date (which becomes the trade price) with a 1% mark-up on trade price.