ICCL - Repo Settlement process
>   Settlement process for TRI PARTY REPO (Basket Repo)
Settlement process for TRI PARTY REPO (Basket Repo)
T0 Settlement on Same Day  
T1 Settlement on T+1 Day  
F Forward Leg Settlement  
T Transferable Type Securities transferred to Lender in ready leg pay-out
NT Non-Transferable Type Securities to be retained by ICCL

Early pay-in for Borrow Orders

  • Ready leg (T0 and T1) type and forward leg of Repo transactions are to be settled as per separate settlement calendar notified by ICCL.
  • Members may note that the borrow orders will be pre-validated for borrowing limit against early pay-in of any of the eligible securities forming part of the respective basket.
  • For this purpose, the Members/Custodians are required to deliver the eligible securities to ICCL through the early pay-in mechanism available in the Depository system. For early pay-in the settlement type and settlement number are specified in settlement calendar. Further, members are also required to upload the .EPR file, through the extranet module, containing the requisite details.
  • Client level borrowing limit will be provided to members on the basis of valuation of the securities (net of hair-cut) delivered by members to ICCL through early pay-in process.
  • The Custodian/Clearing members will be required to deliver the early pay-in of securities and upload the .EPR file before the member inputs order in the system. .EPR file should, inter alia, include Trading Member/Clearing Member/Custodian Code, client code etc.
  • In case where early pay-in is done by the Custodian member, the .EPR file, in addition to the other details, should also contain Custodian Code.
  • If a member is doing early pay-in then Custody code/CM code field should be kept blank in the .EPR File.
  • The shares delivered through early pay-in mechanism, will be treated as Securities Pay-in of the Members for ready leg (first leg) settlement.
  • In case of transferable type of Repo contracts the lender will have to return back the securities to ICCL through securities pay-in process for the forward leg settlement.
  • Following market types are to be used for giving instructions to Depositories for securities pay-in:

    Market Type Market Type Code
    REPO READY LEG (T+0) 65
    REPO READY LEG (T+1) 66

    CC ID Market Type Market Type Code
    IN001150 REPO LEG T+0 35
    REPO LEG T+1 36