The Securities and Exchange Board of India (SEBI) on December 22, 2023, issued a Consultation Paper on “Introduction of optional T+0 and optional Instant Settlement of Trades in addition to T+1 Settlement Cycle in Indian Securities Markets”.
The main objective of this consultation paper is to solicit comments and inputs from stakeholders and members of the public at large on the introduction of the facility for clearing and settlement of funds and securities on T+0 and instant settlement cycle on an optional basis in addition to the existing T+1 settlement cycle in secondary markets for equity cash segment.
It is stated that SEBI held discussions with various stakeholders including Stock Exchanges(SEs), Depositories, Clearing Corporations(CCs), and stock brokers in the matter. A Working Group of SEs, Depositories and CCs was formed to examine the feasibility of the introduction of a shorter settlement cycle and its associated legal, operational, technological and market impact, etc. For this purpose, the Working Group proposes implementation of the same in two phases -Phase 1: T+0 Settlement Cycle and Phase 2: Instant Settlement Cycle.
The Comments/suggestions may be sent by email to Shri Suman Kumar, Assistant General Manager (e-mail id: [email protected]), Shri Dhanush Kumar Reddy, Manager (e-mail id: [email protected]) and [email protected] latest by January 12, 2024.
Kindly find the detailed Consultation Paper attached to the document below.
