T+0 settlement
SEBI gives qualified brokers 6 mos more to ready for optional T+0 settlement
This story was originally published at 18:55 IST on 29 April 2025
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--SEBI defers optional T+0 settlement for qualified brokers to Nov 1 from May 1
NEW DELHI – The Securities and Exchange Board of India Tuesday gave a six-month extension to qualified stock brokers on the timeline to have systems in place to provide an option of T+0 settlement cycle to their clients. On Dec. 10, SEBI had extended the scope of optional T+0 settlement cycles in the equity cash market, and qualified stock brokers were required to put in place by May 1 the necessary systems and processes to enable participation of their clients in the shortened settlement cycle.
The timeline has now been extended to Nov. 1, SEBI said in a circular Tuesday. The market regulator said this was based on feedback received from qualified stock brokers.
Under SEBI's norms, the stock exchanges have to jointly issue a list of qualified stock brokers who will be subject to increased monitoring and surveillance and on whom the regulator will impose higher compliance requirements. These brokers, according to the norms, occupy a significant position in the equities market, leading to concentration of activity among few stock brokers.
There are seven parameters on the basis of which exchanges can designate a stock broker as a qualified stock broker. These include the stock broker's trading volume, number of active clients, compliance score, and proprietary trading volume. As of Mar. 29, there were 12 qualified stock brokers. These were Anand Rathi Share and Stock Brokers Ltd., Angel One Ltd., Globe Capital Market Ltd., Groww Invest Tech Pvt. Ltd., HDFC Securities Ltd., ICICI Securities Ltd., IIFL Securities Ltd., Kotak Securities Ltd., Motilal Oswal Financial Services Ltd., Sharekhan Ltd., Upstox Securities Pvt. Ltd., and Zerodha Broking Ltd. End
Reported by Rajesh Gajra
Edited by Rajeev Pai
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