Clear payment & settlement within 3 days: CDSC

CDS and Clearing Limited (CDSC), NEPSE’s subsidiary company established to provide centralized depository, clearing and settlement services, has instructed to clear settlement and payments within 3 days of the trading date. Previously, (T+3) days of settlement was in practice. The new provision of (T+2) settlement will be effective from today i.e. Asadh 21, 2074. Now, investors buying the shares should provide payment within the next 2 days of purchase while investors selling their shares should provide their debit instruction slips within 2 days. CDSC has also instructed all depository participants and clearing members to fulfill their liabilities within this new timeframe. For any liability arising from clearing members not fulfilling their liabilities as per the new provision should be managed by the members themselves.