NSE Issues a Circular in Regard to the Open Market Buyback (BO Series)

On 17th April 2023, the National Stock Exchange (NSE) issued a circular in regard to the Open Market Buyback (BO series) with reference to circular no. 36/2023 issued on 17th March 2023.

The Circular notifies the following of its respective members –

• Applicable Symbol file shared by NCL shall contain 2 records, i.e. one for applicable series such as EQ/BE/BZ/SM etc., and another for BO series.
• Trades executed in BO series shall be cleared and settled on a gross obligations basis. Settlement shall be compulsorily done in dematerialised mode. All trades shall be settled under settlement type ‘Z’, and a settlement guarantee shall be provided.
• OTR window shall be available till on T day as per applicable timings.