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Glossary term

T+1 Settlement

Also called: T+1, T plus 1 settlement, T + 1, T+1 settlement cycle, T1 settlement, rolling settlement T+1, trade plus one settlement.

T+1 settlement is the Indian cash-market rolling settlement convention. A trade executed on a trading day (T) is settled one settlement day later. That is when the shares and funds change hands. Here "T+1" counts settlement days, not calendar days. Weekends, exchange holidays and NSE Clearing settlement holidays are skipped. On a few settlement holidays the market still trades, but nothing settles. Since early 2023 the Indian equity cash segment has run on this T+1 rolling cycle as the standard.

How it is read

It is commonly read as: settlement happens on the next settlement day after the trade. That is why a Friday trade typically settles the following Monday. Any holiday in between pushes the settlement date one further settlement day forward. That is called a holiday roll. It includes a settlement holiday on which the market still trades. The clearing corporation may also publish specific settlement exceptions for particular dates. A published exception takes priority over the plain rolling rule. The settlement calculator on this site applies this logic. It counts settlement days, using the exchange's trading holidays and NSE Clearing's settlement holidays. It honours published exceptions first. The output is an indicative settlement date for a given trade date and cycle.

What it does not tell you

The cycle tells you when settlement is scheduled. It does not tell you the price, the profit, or any outcome of a trade. It is a convention for the regular cash (delivery) segment. By itself it does not describe intraday, derivatives (F&O) or special-window mechanics. Those follow their own timelines. "T+1" alone does not name a date. The actual settlement date depends on the trade date and the published NSE and NSE Clearing calendars. Weekend and holiday rolls must be applied. An indicative date shown by a tool is informational. It can differ from a broker's or clearing corporation's official record for a specific trade. The published exchange circulars and your clearing statement are the authoritative reference.

See it in an experiment

Market X-Ray: Expiry — Move an example settlement value through a strike and see intrinsic value, time value and holiday adjustment.

Track

Before your first stock market order

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Reference. NSE Capital Market holiday/settlement circular NSE/CMTR/71775 (12 Dec 2025) and NSE exchange-communication holidays and NSE Clearing settlement holidays NCL/CMPT/71904 (22 Dec 2025).
The lesson that uses this term

How the Indian Stock Market Works: Ownership, Trading and Settlement

The stock market is where investors buy and sell shares in listed companies. A share is a small piece of ownership in a company. It is not a promise of profit. If you buy ten shares at ₹200 from another investor, that ₹2,000 goes to the seller. It does not go to the company. Price, value and profit are three separate ideas.

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