Clearing and Settlement - CBM
NSE Clearing provides a facility for settlement of deals reported on CBRICS, RFQ and FTRAC (CCIL) platform
Settlement of Corporate Bond Transactions
- All trades in corporate bonds available in demat form which are reported on any of the following platforms provided viz., CBRICS, RFQ and CCIL shall be eligible for settlement through NSE Clearing.
- The trades will be settled at participant level on DVP I basis i.e., on gross basis for securities and funds. The settlements shall be carried out through the bank and DP accounts specified by the participants.
- On the settlement date, during the pay-in, participants shall be required to transfer the securities to the Depository account specified by NSE Clearing and transfer the funds to the bank account specified by NSE Clearing within the stipulated cut-off time.
- On successful completion of pay-in of both securities and funds, the securities / funds shall be transferred by NSE Clearing to the depository / bank account of the counter-party.
Custodian Trades
- The participants desirous of clearing and settling the trade through a custodian may do so by specifying the custodian details during the registration process.
- The custodian will settle the trades on behalf of the participant.
- The settlement of trade in such case shall take place through the custodian’s bank and DP account as specified by the custodian.
Failure of Settlement Obligation of Corporate Bond Transactions
If either of the participants / custodians fails to honour their pay-in obligation, either fully or partially, by stipulated time then the transaction shall be cancelled and shall not be considered for settlement. Further the securities / funds received towards the pay-in obligation shall be returned to the respective participants / custodians.
DP and Bank Account Details for Settlement:
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For Funds Transfer (For CB/CP/CD/SD) |
|
|
Description |
Details |
|
Bank Name |
Reserve Bank of India |
|
Beneficiary Name |
NSE Clearing Ltd. |
|
Bank IFSC Code. |
XNSE0000001 |
|
Bank Account no. |
8715106 |
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For Funds Transfer (For G-Sec, T-Bill & SDL) |
|
|
Description |
Details |
|
Bank Name |
HDFC Bank Limited |
|
Beneficiary Name |
NSE Clearing Limited |
|
Bank IFSC Code. |
HDFC0000060 |
|
Bank Account no. |
CBRIC1XXXXXXXXXX (where "XXXXXXXXXX" is the PAN of Buyer) |
|
For example: If PAN number is ABCDE1234F then beneficiary Account number shall be "CBRIC1ABCDE1234F". |
|
|
For Bond Transfer |
|
|
Description |
Details |
|
Market Type |
CORPORATE BOND |
|
CM Name |
NSE Clearing Ltd. |
|
CM-BP ID |
IN568177 |
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Settlement No. |
Pls refer to the Settlement Calendar on CBRICS homepage. (This will be published every month). Kindly note there is a single settlement no. for every settlement date. |
|
For Funds Transfer (For G-Sec, T-Bill & SDL) |
|
|
Description |
Details |
|
Bank Name |
HDFC Bank Limited |
|
Beneficiary Name |
NSE Clearing Limited |
|
Bank IFSC Code. |
HDFC0000060 |
|
Bank Account no. |
CBRIC1XXXXXXXXXX (where "XXXXXXXXXX" is the PAN of Buyer) For example: If PAN number is ABCDE1234F then beneficiary Account number shall be "CBRIC1ABCDE1234F". |
|
Bank Account no. |
CBRIC1XXXXXXXXXX (where "XXXXXXXXXX" is the PAN of Buyer) For example: If PAN number is ABCDE1234F then beneficiary Account number shall be "CBRIC1ABCDE1234F". |
More about Clearing and Settlement
Updated on: 11/06/2024
