“In compliance with the guidelines laid down by the Securities and Exchange Board of India (SEBI), the Bombay Stock Exchange (BSE) has announced its plans to launch the beta version of the T+0 settlement system. In a notice issued on Friday, BSE revealed that the beta version of T+0 settlement is scheduled to launch on March 28, 2024, which falls on Thursday of the following week. After the launch of the beta version, all related charges and fees including transaction charges, STT, and regulatory/turnover charges applicable on T+1 settled securities will be uniformly applicable on T+0 settled securities.”
Date of T+0 Settlement
“We kindly draw your attention to SEBI circular no. SEBI/HO/MRD/MRD-PoD-3/P/CIR/2024/20 dated March 21, 2024, which brings forward the introduction of the beta version of the T+0 rolling settlement cycle as an optional addition to the existing T+. 1 Settlement cycle in equity cash markets.In light of this development, we are pleased to inform you that the Exchange will commence trading in securities under the T+0 settlement mechanism from Thursday, March 28, 2024.” However, it is important to note that T+0 prices will not be included in this. In index calculation.
Blueprint for T+0 Settlement
1] Scrip ID/ Symbol: The Scrip ID shall be the same as that of the corresponding T+ duly security suffixed by the character “#” E.g.: HINDMOTORS#;
2] Group: Same as corresponding T+1 security;
3] Tick Size: Same as corresponding T+1 security;
4] Market Lot: Same as corresponding T+1 security;
5] Order Type: End of Day/Session, Immediate or Cancel (IOC), Market & Limit Order;
6] Order matching: Anonymous order book. Continuous matching with Price – Time priority;
7] Price Band: Price band of +/- 1% (100 Basis points) based on the Close Price of corresponding T+1 settled security, which will be re-calibrated throughout the trading hours after +/- 0.5% (50 basis points) movement in the LTP of corresponding T+1 settled security in the normal market;
8] Eligible Members: All members eligible to trade in the Equity segment;
9] Market Timings: 09:15 hrs to 13.30 hrs;
10] Client code modification window: Till 13:45 Hrs;
11] Eligible Client Type: All types of clients excluding clients settling through custodians;
12] Trading Sessions:
a) One Continuous session from 09:15 hrs to 13.30 hrs.
b) No Pre-open/special pre-open/block/auction/post-close session.
c) Trading in T+0 scrips shall not be available during the settlement holiday.
d) No Trading on the Ex-date of any corporate action in the corresponding T+1 settled security (including scheme of arrangement).
e) Trading in T+0 scrips shall not be available during the Index rebalancing day of corresponding T+1 Security.
SEBI guidelines
“On Thursday, the Securities and Exchange Board of India (SEBI) outlined directives for the beta iteration of the T+0 settlement system, stating,Pursuant to deliberations and approval of the The board has decided to establish a framework for the introduction of the Beta version of the T 0 settlement cycle on an optional basis. 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.”
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