Funds pay-in and pay-out shall be through banks designated as Clearing Banks by the Clearing Corporation. The list of banks currently available for settlement is provided in the circular. The funds obligations shall have two components ie Trade value obligations and Accrued interest obligations.
The trade obligation shall be netted at clearing member level to arrive at the final trade obligation amount payable for a settlement. Accrued interest shall be calculated as follows:
Accrued interest (AI) shall be calculated as follows:
For bonds traded in Clean price adjusted to Rs. 100
For bonds traded in Clean price adjusted to Face Value
A separate report for the accrued interest obligation shall be downloaded daily in the member’s folder on extranet.