Direct Payout of Securities: If you also invest in the stock market, then this news is useful for you. SEBI, which regulates the market, has extended the deadline to implement the guidelines related to making direct payment of securities directly in the demat account mandatory till November 11.
Earlier, time was given till October 14 for this. This change in the deadline has been made so that it can be implemented easily. The market regulator has taken this decision after receiving representations from major institutions like clearing corporations, exchanges and stock brokers.
Add rightsofemployees.com as a Preferred Source
Final operational guidelines were to be issued by August 5
A notification was issued by SEBI on June 5. Under this, to improve operational efficiency and reduce risk, the clearing corporation was made mandatory to deposit securities directly into the customer’s demat account. Currently, the clearing corporation deposits the payment of securities into the account of the ‘broker’. After that the ‘broker’ deposits it into the demat account of the concerned investor. In this regard, the clearing corporation had to issue the final operational guidelines by August 5.
However, it was released at the end of August due to long negotiations in the Brokers Industry Standards Forum (Brokers ISF). According to a notification issued a day earlier, SEBI has extended the date of implementation of the rules to November 11 to ensure smooth transition without any disruption in the market after a review meeting and the report of the broker platform.
Decision to discontinue weekly index derivatives
Apart from this, NSE has decided to discontinue weekly index derivatives for Bank Nifty, Nifty Midcap Select and Nifty Financial Services. According to the National Stock Exchange (NSE), now only Nifty will have weekly expiry. This information was given in a circular issued by NSE on October 10. NSE said that from November 13, 18 and 19, weekly index derivatives contracts will be closed for Bank Nifty, Nifty Midcap Select and Nifty Financial Services.
After this, from November 20, the exchange will have to limit the weekly option expiry to one index per exchange. Apart from this, the exchange will be entrusted with the task of monitoring intraday positions at least four times a day.
Related Articles:-
Bank Holidays For 4-Consecutive Days In This State: check full list
Good news! Now you can go home on festivals by Vande Bharat and Tejas, know the schedule and timing
Schools, colleges, offices will remain closed for the next 3 days in this state. Check Details
Add rightsofemployees.com as a Preferred Source
