Beta Version of T+0 Settlement Goes Live
Mar 30th, 2024 8:02 pm | By ThenewsmanofIndia.com | Category: LATEST NEWS
(THE NEWSMAN OF INDIA.COM)
Mumbai, March 28 – BSE and its clearing arm Indian Clearing Corporation Limited (ICCL) today successfully launched the beta version of T+0 settlement.
To begin with, the Beta version offers an option for investors to transact in 25 securities in T+0 settlement.
Designed to settle trades on the same day they are executed, the T+0 settlement facilitates quicker receipt of funds and securities in investor accounts thereby reducing the risks associated with the time lag.
The T+0 settlement stands as a pioneering attempt across the globe and this rollout involved active collaboration between Regulators, Exchanges, Clearing Corporations, Depositories, and the member community at large. On the first day, 63 members participated in this optional segment. As many as 41 members traded in 10 scrips and placed a total of 329 orders which resulted into 90 trades. Unique investors using this facility stood at 49.
Commenting on the launch, Sundararaman Ramamurthy, managing director and chief executive officer at BSE, said “We are pleased to inform the successful implementation of the first T+0 settlement cycle today (28 March 2024). This is a significant step towards greater efficiency and reduced risk in our market. We are confident that this optional settlement cycle will contribute to the continued growth and development of the capital markets in India.
Government News
- RK Chaudhary, CMD, addressed NHPC employee 09/06/2024
- Union Textile Minister visits NBCC Executed Int. Craft Complex 09/06/2024
- Maharashtra Guv inaugurates iconic statue of NSE Bull 09/06/2024
- REC wins “Nodal Agency of the Year” Awards 2024 09/05/2024
- RECPDCL Hands Over Tumkur-II REZ Power Transmission to M/s G.R. Infraprojects 09/04/2024