For securities traded on the Multi Currency Board of the CSE, inter-participant settlement of funds will take place by 12.30 hours on the third market day after the Trade Day (T+3).
The inter-participant settlement takes place by 12.30 hours on the settlement date.
Buyers should ensure that ‘Cleared Funds’ are made available to the buying Custodian Bank by 10.00 hours on the settlement date, for the purchase of securities.
Custodian Banks should make available sufficient Cleared Funds in the settlement bank by 10.30hours on the settlement date to settle payment arising out of transactions carried out by the Custodian Bank based on Settlement Schedule issued by the CDS.
Crediting of securities to the buyer’s Client Account will take place only upon the receipt of confirmation of settlement of funds from the nominated settlement bank.