Settlement Components
Settlement Mechanism for Spot Contracts
Bullion Depository Receipt (BDR) Settlement : For Spot Market contracts, transfer of Bullion Depository Receipts (BDRs) is processed in defined settlement batches.
BDR Settlement Frequency : BDR settlements are processed at intervals of every 30 minutes during settlement windows.
This enables:
• Faster ownership transfer
• Improved operational efficiency
• Reduced settlement waiting time
• Enhanced liquidity movement
Funds Settlement for T+0 Contracts :: For Spot Contracts with T+0 settlement, financial obligations are settled in periodic settlement cycles.
Funds Settlement Frequency :: Funds settlement is carried out after every 3-hour interval for T+0 products.
This framework supports:
• Intraday settlement efficiency
• Improved liquidity management
• Timely release of settlement obligations
• Better participant cash flow optimization
Settlement Timelines
| Settlement Component | Frequency |
|---|---|
| BDR Settlement | Every 30 minutes |
| Funds Settlement (T+0 Products) | Every 3 hours |
| Final Settlement Completion | As per applicable contract timelines |
T+0 Settlement
Trade execution and settlement obligations are completed on the trade date through periodic settlement cycles.
Typical characteristics:
• Intraday BDR settlement
• Periodic fund settlement
• Faster ownership transfer
T+2 Settlement
Settlement obligations are completed within two business days from trade execution in accordance with applicable contract specifications.
Typical characteristics:
• Extended settlement timeline
• Operational flexibility
Operational Note: Actual settlement windows, cut-off timings and operational procedures shall be governed by applicable Exchange circulars, contract specifications and operational guidelines.