SEBI Circular on - Extension of timeline for implementation of provisions of SEBI Circular dated December 10, 2024, on optional T+0 settlement cycle for Qualified Stock Brokers (QSBs)
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Date of Issue: 29-4-2025
Issuer: SEBI
Extension of timeline for implementation of provisions
of SEBI Circular dated December 10, 2024, on optional T+0 settlement cycle for
Qualified Stock Brokers (QSBs)
Highlights of SEBI Circular dated April-29-2025
1. Background:
SEBI had earlier (via circular dated December 10, 2024) introduced an
optional T+0 rolling settlement cycle in addition to the
existing T+1 cycle in the Equity Cash Market.
- QSB Requirement:
Qualified Stock Brokers (QSBs) meeting the criteria (notably, a minimum number of active clients as of December 31, 2024) were required to implement systems for enabling investor participation in the T+0 cycle by May 1, 2025. - Timeline Extension:
Based on industry feedback and to facilitate smooth implementation, SEBI has extended the deadline for QSBs to implement the necessary systems for optional T+0 settlement to November 1, 2025. - No Other Changes:
All other provisions of the December 2024 circular remain unchanged. - Action for MIIs (Market
Infrastructure Institutions):
MIIs must:
Put systems in place for implementation.
Amend relevant rules/byelaws as needed.
Inform market participants and update their websites. - Legal Basis:
The circular is issued under relevant provisions of the SEBI Act, 1992, SCR (Stock Exchanges and Clearing Corporations) Regulations, 2018, and the Depositories Act, 1996.
In case of any clarification or assistance required in the implementation of this circular, you may contact
Kaushik Jethwa - kau...@secmark.in / 9870210171
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