FPI Transaction Flow – Equity Purchase
Purchase Settlements Flow
Refer Advisory Notes
High Level FPI Transaction Flow- Equity Purchase
Step
Activity
Who
Day*
1
Request for placing buy Order
Client
T-1/T
2
Order placed on BSE's trading platform
TM/Broker
T
3
Order executed on BSE's trading platform
BSE
T
4
Executed orders details provided to the Clearing Corporation (ICCL) for settlement
BSE
T
5
Executed order details advised to the client
TM/Broker
T
6
Initiate remittance of funds
Client
T
7
Client's bank remits funds (in FC) to the Custodian's (DDP) bank
Client's Bank
T
8
Custodian (DDP) advised of the funds remittance
Client
T
9
Trade details and contract note forwarded to the Custodian (DDP)
TM/Broker
T
10
Trade Instruction provided to the Custodian (DDP)
Client
T/T+1
11
Trades made available to the Custodian (DDP) for confirmation
ICCL
T/T+1
12
Trades confirmed to the Clearing Corporation (ICCL)
Custodian (DDP)
T+1
13
Custodian's clearing bank instructed to transfer funds to the Clearing Corporation (ICCL)
Custodian (DDP)
T+1
14
Clearing bank confirms receipt of funds to the Clearing Corporation (ICCL)
Clearing Bank
T+1
15
Clearing Corporation (ICCL) transfers securities to the Custodian's (DDP) DP
ICCL
T+2
16
Trade details are provided to the tax consultant
Custodian (DDP)
T/T+1/T+2
* The days mentioned are indicative. For details on the days and the exact deadlines, please refer to your Custodian (DDP)/ Trading Member (Broker) TM- Trading Member