What are the aspects for settlement of trades in G-secs in GILT?
The Settlement for the securities traded in the Debt Segment would be on a Trade by Trade DVP basis. The primary responsibility of settling trades concluded in the wholesale segment rests directly with the participants who would settle the trades executed in the GILT system on their behalf through the Subsidiary Ledger Account of the RBI. Each transaction is settled individually and netting of transaction is not allowed. The Exchange would monitor the Clearing and Settlement process for all the trades executed or reported through the GILT system. The Members need to report the settlement details to the Exchange for all the trades undertaken by them on the GILT system.
The Settlement for the securities traded in the Debt Segment would be on a Trade by Trade DVP basis. The primary responsibility of settling trades concluded in the wholesale segment rests directly with the participants who would settle the trades executed in the GILT system on their behalf through the Subsidiary Ledger Account of the RBI. Each transaction is settled individually and netting of transaction is not allowed. The Exchange would monitor the Clearing and Settlement process for all the trades executed or reported through the ‘GILT’ system. The Members need to report the settlement details to the Exchange for all the trades undertaken by them on the GILT system.
