29 March 2024 – In a significant development, both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) have launched a beta version of the T+0 settlement system, allowing same-day trade settlement for specific stocks. This move is poised to revolutionize trading practices and enhance market efficiency.
The T+0 settlement system, introduced on an optional basis, initially encompasses 25 carefully selected securities, including prominent names like Bajaj Auto, Vedanta, and Hindalco Industries. This initiative offers investors the flexibility to transact in these stocks with same-day settlement, providing quicker access to funds and securities.
On its inaugural day, the optional T+0 segment witnessed active participation from over 60 members on both exchanges. At the BSE, 63 members engaged in trading, with 41 members conducting transactions in 10 securities. Similarly, the NSE reported 66 trading members involved in placing orders for 24 securities.
The implementation of the T+0 settlement cycle was the result of collaborative efforts between regulators, exchanges, clearing corporations, depositories, and the member community. Sundararaman Ramamurthy, CEO of BSE, expressed satisfaction with the successful rollout, highlighting its potential to enhance market efficiency and reduce risks.
Key stocks available for T+0 settlement include Bajaj Auto, Vedanta, Hindalco Industries, State Bank of India, and Tata Communications, among others. The Securities and Exchange Board of India (SEBI) played a pivotal role in facilitating this initiative, aligning with its mandate of market development and investor protection.
