SEBI Introduces the Beta Version of T+0 Rolling Settlement Cycle on an Optional Basis

Circular No. SEBI/HO/MRD/MRD-PoD-3/P/CIR/2024/20; dated: 21.03.2024

Earlier, SEBI vide circular dated September 7, 2021 allowed for the introduction of a T+1 rolling settlement cycle. All the stock exchanges, clearing corporations and depositories (collectively referred to as “Market Infrastructure Institutions (MIIs)”) jointly decided to shift to the T+1 settlement cycle in a phased manner, which was fully implemented w.e.f. January 27, 2023.

SEBI has now introduced the Beta version of the T+0 rolling settlement cycle on an optional basis, in addition to the existing T+1 settlement cycle in the equity cash market for a limited set of 25 scrips and with a limited number of brokers.

All investors are eligible to participate in the segment for the T+0 settlement cycle, if they can meet the timelines, process and risk requirements as prescribed by the MIIs. Further, T+0 prices will not be considered in index calculation and settlement price computation.

Also, there shall be no separate close price for securities based on trading in the T+0 segment. The surveillance measures as applicable in the T+1 settlement cycle shall apply to scrips in the T+0 settlement cycle.

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