Sebi enhances scope of T+0 settlement cycle, approves eligible scrips to top 500 companies
Sebi) on Monday reviewed the performance of the Beta version of the optional T+0 settlement cycle and enhanced its scope by approving an increase in the number of scrips eligible for trading from 25 to top 500 listed companies in terms of market capitalisation.
It will be done in a phased manner, a Sebi release said.
The decision was taken in a meeting of the SEBI board held in Mumbai on Monday which was the regulator's first following the allegations of conflict of interest against chairperson Madhabi Puri Buch by US-based Hindenburg Research and India's Congress party.
All the registered stock brokers can offer access to the optional T+0 settlement cycle to their investors and they will be free to charge differential brokerage for the same.
Qualified Stock Brokers who meet the parameter of having a minimum number of active clients for qualification as QSB, will have to put in place systems to enable seamless participation of their clients in optional T+0 settlement cycle.
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