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

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..... ubject: 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 depositories (collectively referred to as Market Inf .....

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..... ccordingly, 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 for approval. 5. Pursuant to deliberations and approval of the B .....

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..... t 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 index calculation and settlement price computation. There shall be no separate close price for securities based .....

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..... sions 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 steps and put in place necessary systems for implementation of the above; b. make necessary amendments to the relevant bye-laws, rules and regulat .....

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