Further extension of timeline for mandatory implementation of systems and processes by Qualified Stock Brokers (QSBs) with respect to T+0 settlement cycle
Summary
SEBI extends the deadline for Qualified Stock Brokers to implement systems for T+0 settlement from November 1, 2025, to a later date. This decision follows feedback and challenges highlighted by QSBs regarding timely system readiness. All Market Infrastructure Institutions are advised to take necessary steps for implementation and disseminate the circular.
Text
Considering the challenges highlighted by QSBs in ensuring timely readiness of systems on or before November 01, 2025 and request to extend the same for ensuring smooth implementation, it has been decided to extend the timeline for QSBs for putting in place the necessary systems and processes for enabling seamless participation of investors in optional T+0 settlement cycle. Further guidance with regard to the same shall be intimated at a later date.
All MIIs are advised to: i. take necessary steps and put in place necessary systems for implementation of the above. ii. make necessary amendments to the relevant byelaws, rules and regulations, wherever required, for the implementation of the above; and. iii. bring the provisions of this circular to the notice of the market participants (including investors) and disseminate the same on their website.
This circular is issued in exercise of the powers conferred under section 11(1) of the Securities and Exchange Board of India Act 1992 read with Regulation 51 of the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2018 and section 26(3) of the Depositories Act, 1996 read with Regulation 97 of Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.
Source: SecMarx — Further extension of timeline for mandatory implementation of systems and processes by Qualified Stock Brokers (QSBs) with respect to T+0 settlement cycle. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.