Members have been advised to open clearing member (CM) and beneficiary accounts with a depository participant to facilitate settlement of trades through the clearing house interface of the exchange with NSDL.

According to executive director Tapas Datta, the first settlement in the demat segment will take place on June 15 and thereafter settlements will be on a rolling basis (T+5) so that trades done on the subsequent day (June 9) will be settled on June 16. For the purpose of margining, members have been informed that demat trades will be considered for intraday trading limits only and since settlements in the segment will be on a rolling basis "there will be no liability at present for daily and mark-to-market margins." However, the exchange reserves the right toimpose daily margins if circumstances warrant.

The no-delivery period for demat scrips would be different from the physical segment and would be declared separately. All trades done during no-delivery period would be settled in the first settlement date after no delivery period ends.

There are already 11 depository participants in Calcutta. They are: Abhipra Capital, Dalmia Securities, Dayco Securities, East India Securities, Global Trust Bank, Industrial Bank, HDFC Bank, Karvy Consultants, Kotak Securities, Integrated Advisory Services and Stock Holding Corporation of India.