Settlement Holiday on 16th September, But Markets Open For Trading: What it means for you?

16th September 2024 will be a Settlement Holiday in observance of Eid-e-Milad. While the Currency Segment will be closed for trading, all other segments will remain open for trading.

But what is a settlement holiday? A settlement holiday is a day when the stock markets are open for trading, but clearing and settlement are closed for Payin and Payout of stocks and funds. The depositories, NSDL and CDSL, are closed on settlement holidays. This results in the settlement being deferred to the next business day. 

Here is a look at the impact of the settlement holiday on the 16^th of September on the settlement date: 

Key Points to Note:

• No Funds Payout will be processed on 16^th September 2024.

• Stocks purchased on 13^th September 2024 will not be available for sale on 16^th September 2024 under BTST (Buy Today, Sell Tomorrow) due to the double pay-in of securities. 

• Purchases made on 16^th September 2024 will not be eligible for Margin Trading Facility (MTF).

• Mark-to-Market (MTM) credits for trades conducted on 13^th September 2024 will not be reflected in the Trading System Margins.

• The auction markets will remain closed on the settlement holidays. 

Important Information:

Trades executed on 13^th September 2024 will not be available for sale on 16^th September 2024 due to the settlement holiday. Additionally, your credit balance on 16^th September will exclude the following. 

In simple words, profits and credits received from trades or exiting positions in the derivatives segment on September 13, 2024, and on September 16, 2024, will be available for withdrawal on September 17, 2024, by end of the day. 

We request you to plan your trades accordingly.

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