On May 9, 2025, IND NSE said pay-out pertaining to proprietary account shall be provided in verified demat account of the proprietary account, starting from May 23.
If no verified demat account available, will credit in clearing member pool account.
Reminded members to provide entire gross sell obligation as security pay-in; ensure delivery out instructions are executed for pay-in to be done from NSD pool account.
On Feb. 14, IND NSE updated on payout of securities to client account.
IND NSE, CSDL said the pilot launch of direct payout of securities to client's demat accounts will commence Feb. 25, 2025, to enhance operational efficiency, reduce risk.
Outlines implementation schedule, applicability, auction for internal shortage, valuation amount for internal shortage, and reports for auction for internal shortage.
Follows IND NSE Nov. 2024 did an exercise to validate demat details, #232770.
Feb. 17, 2025 IND NSD Circular
On Feb. 17, 2025, IND NSD issued a circular on pilot launch for certain market types.
Feb. 18, 2025, IND NSE Circular on Enhancement
On Feb. 18, 2025, IND NSE issued circular re implementation of direct payout.
For non-resident Indians (NRIs) under category 11, validated primary account details will be sent to clearing corporations (CCs), ensuring payouts are directly credited.
Payouts of depository receipts (category 21) remain under the existing process.
NSE will provide daily segment-wise demat account validation report, which will also include bank validation status for clients using trading supported by block mechanism.
Document dated Feb. 18, 2025, received from IND NSE Feb. 20, summarized Feb. 24.
Feb. 20, 2025 IND NSE, IND BSE Circulars
On Feb. 20, 2025, IND NSE, IND BSE issued reminders re Feb. 14 circulars with timelines and updates including revisions to guides on auction for internal shortages.
Trading members are requested to review and comply with the relevant circulars.
Feb. 21, 2025 Rejection Code
On Feb. 21, 2025, IND NSE issued an updated list of depository rejection code.
The rejection code will be reflected the DeliveryDpo report when the securities pay-out is not credited to the client demat account due to depository rejection.
Feb. 25, 2025 Direct Payout Continue
On Feb. 25, 2025, IND NSE said direct payout of securities will continue for subsequent settlements, members are required to upload UNPAID MTF files on NMASS.
This is required for releasing payouts with pledges in favor of CUSPA, CSFMA accounts.
Document dated Feb. 25, 2025, received from IND NSE Mar. 3, summarized on Mar. 5.
Mar. 2025 Auction for Internal Shortages
On Mar. 6, 2025, IND NSE said it will identify pay-in shortages, including internal ones, and conduct an auction for internal shortages of members, effective from Mar. 7, 2025.
Applies to settlement no. 2025047 onwards, for members other than SEBI-registered custodians; as such, file-based voluntary auction mechanism will be discontinued.
Members must provision for valuation amounts as per the timelines specified by NSE.
Document dated Mar. 6, 2025, received from IND NSE Mar. 7, summarized on Mar. 11.
May 2025 Update re Pay-out
On May 9, 2025, IND NSE said pay-out pertaining to proprietary account shall be provided in verified demat account of the proprietary account, starting from May 23.
If no verified demat account available, will credit in clearing member pool account.
Reminded members to provide entire gross sell obligation as security pay-in; ensure delivery out instructions are executed for pay-in to be done from NSD pool account.
