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Settlement T+1 from January 2023

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News Tech: Stock exchanges said on Wednesday that starting in January 2023, all equities for which derivatives contracts are offered would switch to the T+1 (trade plus one day) settlement cycle. This will improve operating efficiency.

T+1 denotes that settlements for market trades must be completed within one day of the transactions itself.

According to a previous joint announcement from market infrastructure institutions (MIIs), which include stock exchanges, clearing organisations, and depositories, future and options (F&O) stocks were to be converted to the T+1 settlement in two batches in December 2022 and January 2023.

The Securities and Exchange Board of India (Sebi) granted stock exchanges permission to implement a T+1 settlement cycle on any securities accessible in the equity segment starting on January 1, 2022, in September of last year.

The stock exchanges will therefore change the original timeline for moving stocks to the T+1 settlement.

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