Media Release
Beta Version of T+0 Settlement Goes Live
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.”
About BSE
BSE (formerly Bombay Stock Exchange), which will celebrate its 150th year anniversary in July 2024, is Asia’s oldest and the world’s fastest Stock Exchange with a speed of 6 microseconds. India’s leading exchange group, BSE has been playing a prominent role in developing the Indian capital market. BSE is a corporatized and demutualized entity, with a broad shareholder base. BSE provides an efficient and transparent market for trading in equity, debt instruments, equity derivatives, currency derivatives, interest rate derivatives, mutual funds and stock lending and borrowing.
Media Contact
Santanu Chakraborty
022 2272 8516
Santanu.Chakraborty@bseindia.com