look news india
Mumbai: Capital markets regulator Securities and Exchange Board of India (SEBI) has decided to provide T+0 i.e. same trading day settlement cycle for settlement for top 500 stocks in the cash market from December 31, 2024.
This alternative T plus zero settlement will be made available in shares of the top 500 companies with the highest market capitalization by market capitalization from December 31, 2024, Sebi said in a circular issued today. This T+Zero settlement will be valid for all share brokers.
Stock brokers are permitted to charge separate brokerage for these T plus zero and T plus one settlement cycles within the regulatory limits, Sebi said. In T+Zero settlement cycle, shares are credited to the buyer’s account and the money is credited to the seller’s account on the trading day itself.
Meanwhile, SEBI has also specified a mechanism for block deal window in the T plus zero settlement cycle. Under the alternative T+1 settlement cycle, there will be a mechanism for block deal window through stock exchanges, which will be between 8:45 am to 9 am.
This block deal window will be in addition to the existing block deal windows of 8:45 am to 9 am and 2:05 pm to 2:20 pm in the T+ settlement cycle. Trades taking place in the optional T+Zero window session will be settled in the T+Zero settlement cycle.