Trades carried out on behalf of Account Holders registered through a Custodian Bank are called Custodian Trades.
All such transactions must be affirmed by the relevant Custodian Bank to CSE Clear by 13:30 hours on the first market day after the trade date (T+1).
In the event, if a trade is not affirmed by a Custodian Bank, it shall be considered as a Rejected Trade. In such instances, the Custodian banks are required to submit a Rejection Form to the CSE Clear by the same deadline – 13:30 hours on T+1.
Once a trade is rejected, the settlement obligation of such trade shall be transferred to the Clearing Member who executed the Custodian Trade.