MUMBAI – India’s market regulator has proposed a plan for a phased rollout of optionally available same-day settlement and has sought views from the general public earlier than it finalises the foundations.

Under the primary section of the plan, often known as T+0 in marketspeak, buying and selling in securities till 1.30 p.m. IST will likely be settled by 4.30 p.m., the Securities and Exchange Board of India (SEBI) stated in a session paper launched on Friday.

For the second section, the plan proposes fast trade-by-trade settlement for the total buying and selling day until 3.30 pm.

The regulator has additionally proposed providing same-day settlement for high 500 listed shares by market capitalisation.

The plan can be provided to buyers throughout classes, though shoppers settling by their custodians can be excluded within the first section, the regulator stated.

Although the SEBI didn’t specify when the plan can be carried out, regulatory officers had beforehand stated that it could be efficient earlier than the tip of the present fiscal 12 months in March and that India would transfer to instantaneous settlement a 12 months later.

(Reporting by Ira Dugal)