Introduction of Beta version of T+0 rolling settlement cycle on optional basis in addition to the existing T+1 settlement cycle in Equity Cash Markets

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ations All Depositories Dear Sir/ Madam Subject: Introduction of Beta version of T+0 rolling settlement cycle on optional basis in addition to the existing T+1 settlement cycle in Equity Cash Markets 1. SEBI vide Circular No. SEBI/HO/MRD2/DCAP/P/CIR/2021/628 dated September 07, 2021 allowed for introduction of T+1 rolling settlement cycle. All stock exchanges, clearing corporations and....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....rporations and the overall securities market ecosystem. 4. Accordingly, based on the recommendations of Working Group consisting of MIIs, public comments, and recommendations of Risk Management Review Committee of SEBI, a proposal on introduction of optional T+0 settlement and subsequent optional Instant Settlement, in addition to the existing T+1 settlement cycle was placed before SEBI Board f....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ontinuous trading session from 09:15 AM to 1:30 PM. d. Price Band: The price in the T+0 segment will operate with a price band of +100 basis points from the price in the regular T+1 market. This band will be re-calibrated after every 50 basis points movement in the underlying T+1 market. e. Index calculation and settlement price computation: T+0 prices will not be considered in i....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....tnightly report on the progress of activities in the Beta version of T+0 settlement cycle till further direction. 10. The provisions of this circular shall come into force with effect from March 28, 2024. 11. SEBI shall continue to do further stakeholder consultation including with users of the Beta version of T+0 settlement cycle. 12. All MIIs are advised to: a. take necessary s....