SEBI To Introduce Same-Day Settlement By March 2024 & Instantaneous Settlement By 2025, Says Chief

The Securities and Exchange Board of India (SEBI) is working on a roadmap for the same-day settlement of trades by March 2024, followed by an optional parallel system for instantaneous settlement, SEBI chief Madhabi Puri said. Speaking at a press conference in Mumbai following the SEBI Board meeting, Buch emphasized that both market infrastructure and brokers have underscored the necessity for a technological pathway that enables immediate settlement. She stressed the importance of avoiding a one-hour delay as an interim step and advocated for a direct transition from T+0 to instantaneous settlement. Further stressing on the timeline, she said, “What market participants have told us is that we will need to start at T+0 and then move to instantaneous. For T+0, it will be by the end of March, then instantaneous will be another year later.