look news india
Mumbai: Stock exchanges BSE and NSE will launch T plus zero (T+0) trade settlement in a limited number of securities from March 28, 2024. The timing of this solution session will be from 9:15 am to 1:30 pm.
All charges and fees currently applicable for securities in T Plus One settlement, including transaction fees, securities transaction tax, etc., will continue to be applicable in this T Plus Zero settlement. The exchanges have said so. On March 21, the Securities and Exchange Board of India (SEBI) had issued a framework to implement a beta version of T+Zero i.e. settlement on the trading day in addition to the T+1 settlement cycle.
SEBI said, this beta version T plus zero settlement will currently be limited to 25 stocks and some brokers. Prices in the T Plus Zero segment will operate with a price band of 100 basis points above the regular T Plus market price. It will be recalibrated after every 50 basis point movement in the T+1 market in this band. Trading prices of shares under T Plus Zero Settlement will not be considered in the index calculation and settlement price calculation. Further, the closing prices of securities traded in the T+Zero segment will not be disclosed.
All investors adhering to the time period, process and risk requirements prescribed by the Market Infrastructure Institutions will be allowed to trade in the T plus zero settlement cycle. The monitoring measures currently applicable in the T+1 settlement cycle will also be applicable to shares in the T+0 settlement cycle.
