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“SEBI wants the T plus zero (T+0) settlement norm to be in place from March-end 2024 and T plus instantaneous settlement 12 months from thereon,” Buch told reporters here after the regulator’s board meeting.
T+0 refers to the same-day settlement of trades and instantaneous settlement means settling the transactions on a real time basis.
According to Buch, market markers are of the view that it makes better sense to move directly from T+1 hour to T+instantaneous as there is no benefit to be drawn from the middle ground which is T+0.
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She said that the new settlement will be parallel to the existing settlement system and will fully be optional.