Article 36 Liquidity Reserve
36.1 For the purpose of ensuring the Participant's financial ability to meet his settlement obligations on the Settlement Day (T+2), Participants are required to pay into the Liquidity Reserve account the full value of the transaction, as follows:
36.1.1 30% of the trading transaction on (T+1), no later that 09:30 hours.
36.1.2 70% of the trading transaction on (T+2) before 09:30 hours.
36.2 All Liquidity Reserve payment obligations shall be effected through the BSE's Liquidity Reserve account, and settled on the BSE's clearing account.
36.3 In the event that a Participant fails to pay the required Liquidity Reserve amount, the BSE shall immediately cease to provide trading, clearing and settlement services to the defaulting participant.
36.4 It shall be deemed that a Participant failed to pay the Liquidity Reserve amount by 09:30 hours on T+1, if the CSU did not receive confirmation from the Settlement Bank that the Participant has submitted the appropriate payment to the Liquidity Reserve amount.
36.5 In the event that a Participant fails to pay the required Liquidity Reserve amount, such amount shall be added to the Participant's net to pay balance due for payment on the Settlement Day.