Sebi extends deadline for optional T+0 settlement for QSBs to Nov 1
Capital markets regulator Sebi
on Tuesday extended the timeline for implementation of the optional T+0 rolling settlement cycle for qualified stock brokers (QSBs) to November 1. Earlier, the deadline for operational readiness as mandated under the December 10, 2024 circular was May 1, 2025.
The extension came after Sebi received feedback from QSBs and subsequent consultations with stock exchanges, clearing corporations, depositories and the brokers themselves.
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"In order to ensure smooth implementation, it has been decided to extend the timeline for QSBs for putting in place the necessary systems and processes for enabling seamless participation of investors in optional T+0 settlement cycle, to November 1, 2025," the Securities and Exchange Board of India (Sebi) said in a circular.
Sebi's earlier framework said "stock brokers who are designated as QSBs and meet the parameter of minimum number of active clients for qualification as QSB as on December 31, 2024 shall put in place necessary systems and processes for enabling seamless participation of investors in optional T+0 settlement cycle".
Further, new QSBs have three months to adopt these systems after any list updates.
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While extending the deadline, the regulator clarified that all other provisions of the December 10, 2024 circular will remain unchanged.
Sebi has directed market infrastructure institutions (MIIs) to make necessary amendments to relevant rules and byelaws, implement the new provisions, and disseminate the information widely to market participants and investors.
In December last year, Sebi expanded the optional T+0 (same day) settlement in the equity cash market to the top 500 scrips by market capitalisation.
The Securities and Exchange Board of India (Sebi) introduced an optional T+0 settlement cycle for 25 scrips in March 2024. Initially, it was available only to non-custodian clients.
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