At Day T (i.e Transaction Day)
- Settlement Banks and NIBSS are notified of transactions of Day T.
Day T +2
- Latest 10.00 a.m., Settlement Banks notify CSCS of stockbroking firms that may not settle their trades of Daty T. This is to help settlement banks to pressurize their clients to fund their accounts
- Final settlement advice to NIBSS by CSCS for day T transactions
- Latest 10.00 a.m., NIBSS to inform CSCS on any Bank default. Inability of any Bank of settle trades will cause those trades to be cancelled by The NSE on or before 12 noon and the Bank ceases to be a Settlement Bank.
- Latest 11.00 a.m., Settlement Banks to re-confirm stockbroking firms'inability to settlement trades.
- Stocks on the unsettled trades placed on hold/blocked at the close of work on T+3.
- Application of trade Guaranty Fund and/or sale of blocked shares by the appointed stockbroking firm.
- Invocation of stiff penalty on the defaulting stockbroking firms