Sebi probably to start using hourly settlement for trading
By MYBRANDBOOK
By the end of this fiscal year, the market regulator Securities and Exchange Board of India (Sebi) will roll out one-hour trade settlements in preparation for making such procedures instantaneous. Investors have the option to decline these quicker settlements. Sebi has devised a road map in order to achieve its goal of making trade settlements rapid.
The technology for one hour trade settlements already exists and the regulator is confident about the same, while the instantaneous settlements need more technology development. At present, Sebi is thinking of rolling out the one-hour trade settlement for all investors by March next year, and is looking at a time frame of 6-8 months more for the instantaneous settlements.
The Application Supported by Blocked Amount (ASBA)-like facility for secondary markets will start by January for all investors and it will take another couple of months for the one-hour cycle to set-in after that.
The early settlement facility will be optional for investors and they can opt out of it and stressed that data analysis does not indicate any problems on the trading side if some investors were to opt out.
Sebi is acting keeping the future in mind and its intent is only to get into a situation if a regulated entity comes into the picture. Separately, the markets regulator is also keeping tabs on activities with the help of states' law enforcement agencies.
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