BSE and its clearing business Indian Clearing Corporation Limited (ICCL) have launched a beta version of T+0 settlement, with 25 securities currently available for transactions.
A total 63 members used the service on its first day of going live, with 49 unique investors using the facility. Up to 41 members traded in 10 securities and a total of 329 orders were placed, resulting in 90 trades being completed.
Regulators, exchanges, clearing corporations, depositories and the broader member community were active in the development of this beta launch, BSE said.
Sundararaman Ramamurthy, managing director and chief executive officer at BSE, commented: “This is a significant step towards greater efficiency and reduced risk in our market. We are confident that this optional settlement cycle will contribute to the continued growth and development of the capital markets in India.”
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