NSE And BSE To Introduce T0 Settlement From Tomorrow To THESE Specific Stocks- Details (image source: Getty Images)
NSE and BSE to Introduce T+0 Settlement: Stock exchanges Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) are gearing up to launch the beta version of the T+0 or same-day trade settlement, from March 28, 2024 i.e. from Tomorrow. This move is to enhance efficiency, transparency, and risk management in the securities market ecosystem.
“Trading Members are requested to refer to the Exchange notice number regarding the introduction of trading in T+0 rolling settlement cycle in the Equity Segment. In continuation to the said notice, the list of 25 securities available for trading in T+0 settlement cycle with effect from March 28, 2024,” BSE circular said.
Limited Rollout and Scrips
Initially, the option of T+0 trade settlement will be available for a selected group of 25 stocks and with a restricted number of brokers. The list of scrips includes prominent names such as Bajaj Auto, Vedanta, Hindalco Industries, State Bank of India (SBI), and others. This limited rollout is intended to gauge the effectiveness of the new settlement cycle.
List Of Stocks Available For T+0 Settlement
| Stock Names |
| 1. Ambuja Cements |
| 2. Ashok Leyland |
| 3. Bajaj Auto |
| 4. Bank Of Baroda |
| 5. BPL |
| 6. Birla Soft |
| 7. CIPLA |
| 8. Coforge |
| 9. Divis Laboratories |
| 10. Hindalco Industries |
| 11. JSW Steel |
| 12. LIC Housing Finance |
| 13. LTI Mindtree |
| 14. MRF |
| 15. Nestle India |
| 16. NMDC |
| 17. ONGC |
| 18. Samvardhana Motherson International |
| 19. SBI |
| 20. Tata Communications |
| 21. Trent |
| 22. Union Bank Of India |
| 23. Indian Hotels |
| 25. Petronet LNG |
| 26. Vedanta |
Benefits of T+0 Settlement
T+0 settlement signifies settlements on the same trading day, offering immediate cost and time efficiency benefits. It is expected to enhance transparency in charges to investors and bolster risk management at clearing corporations. Vamsi Krishna, CEO of StoxBox, highlighted the potential of T+0 to mitigate transactional risks and align India’s trading infrastructure with global standards.
Regulatory Framework and Market Participation
The Securities and Exchange Board of India (Sebi) approved the introduction of the beta version of T+0 settlement cycle on an optional basis from March 28. Under the new framework, all investors can participate in the T+0 settlement cycle if they meet the prescribed timelines, processes, and risk requirements. Trading hours for T+0 settlement will be between 9.15 am and 1.30 pm.
Surveillance Measures and Index Calculation
Surveillance measures applicable in the T+1 settlement cycle will also be applicable to scrips in the T+0 settlement cycle to ensure market integrity. Notably, T+0 prices will not be considered in index calculation and settlement price computation. There will be no separate close price for securities based on trading in the T+0 segment.
