SEBI plans to introduce same-day settlement on Indian stock exchanges by March 2024.
SEBI intends to use phase 1, beginning with an optional T+0 settlement cycle for trades executed until 1:30 PM and finishing by 4:30 PM.
Phase 2 of the trading procedure offers an option for rapid settlement of monies and securities for all trades performed until 3:30 PM.
The system enhances investor access to funds and securities, enhances market efficiency and liquidity.
As well as reduces counterparty risk, and enhances risk management in business clearing.
SEBI is expecting stakeholder feedback on a draft plan before finalising elements such as eligibility criteria and a rollout date.
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