ASIFMA mentioned in Reuters’ story “Offshore funds raise concerns over India’s same-day trade settlement plan”
Directly from article:
In its submission to the regulator, published on its website, the Asia Securities Industry and Financial Markets Association (ASIFMA) also warned optional same-day settlement could fragment the market.
It added that if the SEBI’s ultimate goal was to move the whole market to same-day settlement, it would be better to focus on how it could do this with the least amount of disruption and cost to the market.
The SEBI did not immediately respond to an email seeking comment.
As a possible solution, ASIFMA asked the SEBI to consider China’s same day settlement systems, which allow offshore investors flexibility in funding trades.