Market regulator Securities Exchange Board of India's (Sebi's) experiment with the same-day settlement cycle has found few takers during its soft launch phase, rolled out for just 25 stocks.
Since its introduction in March, the T+O mechanism - an optional settlement cycle, parallel to the mainstream T+1 cycle where trades are settled on a next-day basis - has logged a turnover of just 5.7 lakh on the NSE, with six of the 25 scrips not recording even a single trade. Of the total, over 80 per cent, or ₹4.63 lakh, was registered on March 28, the launch day.
The turnover for T+0 trades on the BSE is even lower at under ₹3 lakh.
According to industry sources, Sebi plans to launch a revised framework, aiming at wider implementation and adoption, in November.
Industry players said the move to T+0 came close on the heels of the T+1 rollout. So, it didn't gain wider acceptance despite its benefits.
This story is from the June 26, 2024 edition of Business Standard.
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This story is from the June 26, 2024 edition of Business Standard.
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