Published Oct 17, 2024
The settlement for equity delivery (pay-in of shares to the exchange) occurs on a T+1 basis. This means that shares bought on the trading day (“T” day, e.g., Monday) are to be received by the buyer on T+1 (i.e., Tuesday).
Similarly, shares sold on “T” day (e.g., Monday) must be delivered to the exchange by the seller on T+1 (Tuesday) to receive the proceeds (cash) from the sale.
Failure by the seller to deliver shares to the buyer on T+1 as obligated is termed Short Delivery.
When there is a default in delivery by a broker, an auction is conducted. The auction is a stock exchange mechanism through which, in a settlement, the buyer’s broker procures shares in the event of a default by the seller’s broker. Such defaults can occur when a short seller fails to square off the position, a seller does not deliver shares on time, or a seller delivers incorrect or defective shares.
South Asian Stocks Ltd. : NSE Member Code 09073, BSE Member Code 6329, MCX Member Code : 55215 , NCDEX Member Code : 1233 NSDL : IN-DP-474-2020 . SEBI Registration No. INZ000164738
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