The process of a CC transferring the securities to the broker's CM -account for the quantity of securities purchased by them on behalf of their clients is known as 'pay-out'.
The DI slip contains the name of the exchange, market type and settlement number for which securities are being transferred to CM accounts. The DI slip should contain the BOID of a CM account relevant to the stock exchange in which the trade was done. The contract note/trade confirmation slip given by the broker/ sub-broker will indicate the settlement details.
clearing member can give an instruction to move securities from one settlement to another settlement which is called 'inter-settlement' transfer
All TM/CM are required to transfer the clients securities received in pay-out to clients demat account within one working day. In case the client does not pay for such securities received in pay-out, then the TM/CM shall be entitled to retain those securities up to five trading days after pay-out. In cases, where the client fails to meet its funds pay-in obligation within five trading days from pay-out day, the TM/CM shall liquidate the securities in the market to recover its dues.
Client Unpaid Securities Account - With regard to securities that have not been paid for in full by the clients (unpaid securities), a separate client account titled -
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