World’s Fastest T+0 Settlement Kicks Off In India: Same Day Settlement.
By: Geetanjali
India has become the second country after China in the world to trade stocks in the T+0 Stock Settlement cycle. To offer traders a faster way to buy and sell stock, BSE (Bombay Stock Exchange) and NSE (National Stock Exchange) have opted to go for the T+0 settlement cycle (that is the same day stock settlement) than the presently used T+1 cycle.
The pilot launch of the T+0 stocks settlement cycle will be launched on Thursday, March 28, 2024. BSE published the list of 25 stocks on Wednesday, March 27, 2024 which are going to be listed today: Bank of Baroda, State Bank of India, Union Bank of India, LIC Housing Finance, Ambuja Cement, Bharat Petroleum Corporation, Oil and Natural Gas Corporation, Petronet LNG, Ashok Leyland, Bajaj Auto, JSW Steel, MRF, Divis Laboratories, Hindalco Industries, Tata Communications, Birlasoft, Cipla, Coforge, Indian Hotels Company, LTIMindtree, Vedanta, NDMC, Nestle India, Samvardhana Motherson International.
This pilot project will run for 3 months after which Sebi (Securities and Exchange Board of India) will review its progress and take further action.
T+0 is a same day stock settlement cycle under which stocks bought and sold between 9:15 Am and 1:30 Pm will be settled by the end of the day. Globally, we have three types of stock settlement systems.
| Type of Stock Settlement System | Settlement Cycle | Usage |
| T+0 | Same day settlement | Optional |
| T+1 | Settlement on next Business day | Currently used in India |
| T+2 | Settlement on the second business day | Used Globally |
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