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of <h1>SEBI Circular Introduces Net Settlement for Cash and F&O Segments, Excludes Institutional Investors, Effective March 2023.</h1> The circular issued by SEBI introduces a Net Settlement mechanism for cash and Futures & Options (F&O) segments upon the expiry of stock derivatives, effective from March 2023. This mechanism allows for the netting of settlement obligations, providing efficiencies for market participants who clear trades through the same clearing member. However, institutional investors and those with mandatory delivery-backed transactions are excluded from this benefit. Securities Transaction Tax and Stamp Duty will still be computed separately for each segment. Stock exchanges and clearing corporations are instructed to implement necessary systems and amendments to facilitate this change.
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