Cse Clearing House Set To Kick-Off With B Group

The clearing house of the Calcutta Stock Exchange is set to commence operations from the settlement ending on May 22. This is a major step forward for the bourse which accounts for a large portion of the total turnover of the share market.

The Securities and Exchange Board of India (Sebi) had urged the exchange to set up the clearing house as soon as possible.

The clearing and settlement of B-group scrips (cash segment) will be through the clearing house for the settlement starting on May 16 and ending May 22.

Brokers have been advised to open a clearing account by May 15 with Canara Bank, which has been chosen the clearing bank, so that the clearing of the cash group can be done smoothly. This will be for settlement number 108.

 

A note on the schedule of pay-in and pay-out will be circulated to members of the exchange shortly. The bourse has advised brokers against using the clearing house account for any purpose other than clearing and settlement. The exchange has converted a part of its trading hall for the clearing house. An additional strong room for safe-keeping of the shares will be built soon.