SEBI Looks To Introduce Same-Day Trade Settlement By March

India's market regulator is looking to introduce T+0 or same-day settlement of trades by March.

The regulator in its consultation over instantaneous settlement found that market participations wanted to move to T+0 settlement directly because of cost and technology issues, Madhabi Puri Buch, chairperson at Securities and Exchange Board of India, said during the press conference post the regulator's board meeting.

Once the market moves to T+0, the regulator will take one year to move to instant settlement, she said.

The T+0 settlement process will be a parallel process and optional, she said. It will be applicable to non-custodian or non-institutional clients.

The settlement of the trade will be based on T+1 closing prices.