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SECURITIES AND EXCHANGE BOARD OF INDIA
SECONDARY MARKET DEPARTMENT
Mittal Court, B Wing, First Floor,
224, Nariman Point, Mumbai 400 021.

SMDRP/Policy/Cir- 23/2001

March 20, 2001

The President/Executive Director/
Managing Director of all the Stock Exchanges

Sir/Madam,

Sub: Compulsory Rolling Settlement.

The Hon’ble Finance Minister has announced on the floor of Parliament that about 200 scrips would be traded in rolling settlement by July 2001. The SEBI Board at its meeting held on March 15, 2001 also discussed its implementation.

In this respect, it has been decided that :

i. All scrips which are included in the ALBM/BLESS or MCFS in any stock exchange will be traded ONLY in the compulsory rolling settlement on a nation wide basis i.e. on all the stock exchanges from July 2, 2001.

ii.In addition, if there is any scrip which is included in the BSE 200 list, but not covered by the above list, will also be included in the compulsory rolling settlement on a nationwide basis.

iii. The stock exchanges will therefore have to develop software (if necessary) before that date. In case, any exchange does not have suitable infrastructure for the above purpose, they will have to create such infrastructure by that date, if the stock exchange wants the scrips to be traded on their exchanges other than on spot basis.

A list of such scrips would be forwarded in due course. The exchanges are advised to take steps to implement the same.

You are also advised to apprise us of the progress made in this regard in the Monthly Development Report.

Yours faithfully,

P.K.BINDLISH
Deputy General Manager
Secondary Market Depository,
Research & Publications Department

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