SEBI giving option to stock exchanges to apply T + 1 settlement for stocks

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(Commercial Representative) MUMBAI: The Securities and Exchange Board of India (SEBI), the regulator of the capital market, has decided to make the T + 1 settlement optional, taking into account various representations from stockbrokers and other intermediaries regarding the reduction of the settlement from T + 2 to T + 1. . Accordingly, stock exchanges can offer T + 1 settlement along with T + 2 settlement for stocks trading on their platform. Which will be optional.

The new rules will come into effect from January 1, 206, SEBI said in a circular issued today. SEBI had earlier reduced the settlement cycle in the stock markets in 2009. At which time the settlement was applied for two days, reduced to three days after the day of the transaction.

SEBI said that the issue of reducing the settlement cycle has been raised by various intermediaries.

SEBI has said that the stock exchanges themselves will be able to choose to offer a T + 1 settlement cycle on any stock after informing all stakeholders about the changes in the settlement cycle a month in advance. In addition, once the stock market adopts the T + 1 settlement mechanism, it will not be able to change it for the next six months, i.e. netting between T + 1 and T + 2 will not be allowed.

The Securities and Exchange Board of India (SEBI) has directed stock exchanges, clearing corporations and depositors to take necessary steps, including changes to the by-laws, rules and regulations, to implement the necessary systems and procedures for easy entry into the T + 1 settlement cycle on an alternative basis.


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