SEBI Defers Optional T+0 Settlement Deadline to Nov 2025
Why in the news
SEBI gave stock brokers six more months in April 2025 to get ready for the optional same-day settlement cycle.
Key facts
- New deadline: November 1, 2025 for qualified stock brokers (QSBs), replacing May 1, 2025.
- Why: broker feedback and consultations with exchanges, clearing corporations and depositories to ensure smooth rollout.
- T+0: a trade settles on the day it is executed, so shares and money change hands that day. Under T+1, settlement happens the next business day.
| Date | Milestone |
|---|---|
| January 27, 2023 | T+1 settlement for all listed stocks, a world first |
| March 28, 2024 | Optional T+0 launched for 25 scrips |
| January 31, 2025 | Planned expansion to top 500 stocks |
| May 1, 2025 | Original QSB deadline |
| November 1, 2025 | Extended QSB deadline |
Rollout of T+0
- Expansion was meant to be gradual, beginning with bottom-100 companies and adding 100 each month.
Challenges
- Most large brokers are not operationally ready; their risk management and order management systems cannot handle the required scale.
- Very few brokers offer T+0 for now because of system limits.
Impact
- QSBs must build the systems needed for optional T+0 participation.
- Investors wanting T+0 must use brokers that provide it.
- The delay gives brokers time to prepare.
Exam angle
- Terms: T+0, T+1, QSB, settlement cycle.
- India: first country with T+1 across all listed stocks (January 27, 2023).
- New deadline: November 1, 2025.