In case of T+3 rolling settlement cycle if I am trading (selling) through a sub-broker when do I need to give delivery instruction to my DP?
Ans. In this case also the settlement deadlines will remain the same (i.e. Thursday morning for a Monday trade). However, there is an additional transfer involved. You will transfer securities to the sub-broker’s account and the sub-broker will further transfer the securities to the account of clearing member. Therefore, in this case you should give delivery instructions to your DP immediately after confirmation of sale transaction.
Related Questions
- In case of T+3 rolling settlement cycle if I am trading (selling) through a sub-broker when do I need to give delivery instruction to my DP?
- If client sells securities through a sub-broker, which part of the delivery instruction slip has to be filled?
- What is T+2 rolling settlement cycle and when delivery is to be given to a broker ?
