Terminologies 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:
  
  

  CDSL Market Type Market Type Code REPO READY LEG (T+0) 65 REPO READY LEG (T+1) 66 REPO FORWARD LEG 67

  
  
  

  NSDL CC ID Market Type Market Type Code IN001150 REPO LEG T+0 35 REPO LEG T+1 36 REPO FORWARD LEG 37