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June 20, 2001
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Money > Business Headlines > Report June 20, 2001 |
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NSE to kick off T+1 in ALBMSangita Shah The National Stock Exchange will introduce T+1 mechanism for carrying forward the positions under automatic lending and borrowing mechanism from July 2. This effectively means that there will be a daily ALBM session for carrying forward previous day's outstanding positions. The decision for daily ALBM session is the result of the Securities and Exchange Board of India's directive that deferral positions as on May 14, 2001 taken in the ALBM session are required to be liquidated in phased manner between July 2 and September. Sebi has mandated that ALBM along with other deferral products on other exchanges such as BLESS on the Bombay Stock Exchange and also the badla shall not be available for creating new positions from July 02, 2001 onwards and shall be totally discontinued from September 3, 2001. In view of the above, the National Stock Exchange has decided that ALBM will not be available on weekly basis after ALBM session taking place on June 20, 2001. Moreover, the last ALBM session on T+1 basis will be held on August 31, 2001 whereupon all reverse obligations shall necessarily result in deliverable / receivable settlement obligations. Powered by YOU MAY ALSO WANT TO READ:
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