A modest debut for T+0 settlement

On the , 32 brokers traded, and 66 trading members placed 209 orders for 87 investors in 24 stocks. This resulted in 46 trades across 14 stocks.

All these trades that happened earlier on Thursday were settled on the same day with NSE's first payout taking place at 4:22 PM. In the T+0 system, shares will be transferred to the buyer's account and the funds will be deposited in the seller's account on the same day of the trade.

For now, exchanges are running a pilot project of the T+0 settlement cycle, which is optional, in addition to the existing T+ 1 settlement cycle in the cash market. This means both settlement cycles will co-exist. The same-day settlement will be available only for 25 stocks and only a limited number of brokers can offer this facility. Additionally, the trading session for stocks settled on the same day will be from 9.15 AM to 1.30 PM.

Brokers said the appetite among market participants to settle trades the same day was modest on Thursday. "We don't anticipate any demand emerging in the near term, as clients are not in a rush to obtain funds at the expense of sacrificing almost a percent less price," said the CEO of a leading brokerage who did not want to be identified.

Top officials at various other brokerages said on condition of anonymity that they were not encouraging investors and traders to participate in the new system since it's optional.

"Dealing with two settlements is a difficult task for our back-end operations, especially when there is no demand," said the CEO of another broking firm. "It involves managing two sets of quotes for a stock, among other complexities."