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Instant settlement of Indian stock market trades to come in by October 2024
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Currently trades in India are settled in «T+1» or one day after the trades are initiated. Instant settlement would ensure trades are settled immediately.
For foreign investors, the instant trade settlement would be optional and not mandatory, the source said.
To start, the regulator would implement settlement within one hour of the trade, with instant settlement coming some months later.
«By March 2024 we hope to first move towards one hour settlement cycle, since exchanges and clearing corporations say they need more time to work on the systems for instant settlement,» the source said.
India is the second country after China which operates on a short settlement cycle of one day.
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