Friday, June 22, 2007

NSE - NSCCL - Equities Clearing & Settlement

NSE - NSCCL - Equities Clearing & Settlement: "Clearing & Settlement (Equities)
NSCCL carries out clearing and settlement functions as per the settlement cycles of different sub-segments in the Equities segment.

The clearing function of the clearing corporation is designed to work out a) what counter parties owe and b) what counter parties are due to receive on the settlement date. Settlement is a two way process which involves legal transfer of title to funds and securities or other assets on the settlement date.

NSCCL has also devised mechanism to handle various exceptional situations like security shortages, bad delivery, company objections, auction settlement etc. "

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