To All Clearing Members and Custodians,

Attention of Clearing Members and Custodians of Indian Clearing Corporation Ltd. (ICCL) is drawn to ICCL circular nos. 20190529-43, 20190415-8, 20190415-10, 20190415-11, 20190415-12 dated April 15, 2019, circular no. 20190426-32 dated April 26, 2019, circular no. 20190430-39 dated April 30, 2019, circular no. 20190528-36 dated May 28, 2019 and circular No.20190529-3 dated 29 May 2019 regarding Interoperability framework among Clearing Corporations.

For ease of migration from existing framework to the Interoperable framework following clarifications/facilities are being provided in furtherance to the circular No.20190529-43 dated 29 May 2019: -

1.       Common CP Code to be used by all members

 Common CP codes would be applicable to the Custodians and Clearing Members from the “Date of operationalisation” as specified in circular no. 20190528-36 dated May 28, 2019. If the Custodians / Clearing Members seek migration to the Common CP Code in  Equity Derivatives & Currency Derivatives Segment before “Date of operationalisation”, they may inform ICCL on email ID ravindra.palande@icclindia.com;  praveen.poojary@icclindia.com at least two working days prior to the date of change for CP Codes.

Scenario 1:

CM’s chosen date of operationalisation is Monday, June 24, 2019 and CM does not inform ICCL for migration to Common CP Code. Under this scenario, existing CP codes allotted by ICCL will apply till Friday, June 21, 2019 and the Common CP Code will automatically become applicable from Monday, June 24, 2019.

Scenario 2:

CM’s chosen date of operationalisation is Monday, June 17, 2019 and CM informs ICCL for migration to Common CP Code on Tuesday, June 11, 2019 effective Thursday, June 13, 2019 or any other later date (not later than date of operationalisation). Under this scenario, the Common CP Code will become applicable from Thursday, June 13, 2019 or such later date as specified by the CM. 

2.       New file format for early pay-in to be used

 New File format pertaining to early pay-in of funds & securities as provided in circular No.20190426-32 dated April 26, 2019 would be applicable to the Custodians and Clearing Members from the “Date of operationalisation” as specified in circular no. 20190528-36 dated May 28, 2019. Till the “Date of operationalisation”, Custodians and CMs may make early pay-in of funds & securities as per the existing file format or the new file format.

 Other Clarifications:

 1.       Online Trade Files -

The trade files as per new format will be provided to the respective members from the effective date of operationalisation selected by them. Prior to that, members would continue to get trade files as per the old format.

With effect from Monday July 1, 2019, (i.e the mandatory date for operationalisation of Interoperability for Clearing Members) trade files will be provided only in the new format.     

Members/Custodians are requested to take note of the above for necessary changes, if any, in their respective systems.

For any clarifications, Members may contact their respective Relationship Managers or any of the following team officials: