BSE to launch beta version of T+0 settlement on March 28, shares operational parameters

The Scrip ID shall be the same as that of the corresponding T+ duly security suffixed by the character “#”

The BSE will introduce trading in securities under the T+0 settlement from March 28, as announced by the exchange through a notification. The market timing will be one continuous session between 9:15 a.m. and 1:30 p.m. All charges/fees applicable for T+1 settled securities, such as Transaction Charges, Securities Transaction Tax (STT), and Regulatory Turnover Fee, will apply for T+0 settled securities.

On March 21, the Securities and Exchange Board of India (SEBI) issued the framework for implementing the beta version of same-day or T+0 settlement on an optional basis, in addition to the T+1 settlement cycle.

Also read: Sebi issues framework for beta version of T+0 settlement; to start with 25 scrips and limited trade timing

The exchange has issued the trading parameters for it.

1. Scrip ID/ Symbol: The Scrip ID shall be the same as the corresponding T+ duly security suffixed by the character “#”. E.g.: HINDMOTORS#

2. Group: Same as corresponding T+1 security

3. Tick Size: Same as corresponding T+1 security

4. Market Lot: Same as corresponding T+1 security

5. Order Type: End of Day/Session, Immediate or Cancel (IOC), Market & Limit Order

6. Order matching: Anonymous order book. Continuous matching with Price – Time priority.

7. Price Band: Price band of +/- 1% (100 Basis points) based on the Close Price of corresponding T+1 settled security, which will be re-calibrated throughout the trading hours after +/- 0.5% (50 basis points) movement in the LTP of corresponding T+1 settled security in the normal market

8. Eligible Members: All members eligible to trade in Equity segment

9. Market Timings:09:15 hrs to 13.30 hrs.

10:Client code modification window: Till 13:45 Hrs

11. Eligible Client Type: All types of clients excluding clients settling through custodians

12. Trading Sessions:

(a) One Continuous session from 09:15 hrs to 13.30 hrs.

(b)No Pre-open/special pre-open/block/auction/post-close session.

(c)Trading in T+0 scrips shall not be available during the settlement holiday.

(d) No Trading on the Ex-date of any corporate action in the corresponding T+1 settled security (including the scheme of arrangement)

(e)Trading in T+0 scrips shall not be available during the Index rebalancing day of corresponding T+1 Security.