The day's trading begins at about 9am at the bourses.
Normally, the members are allowed to make the payments after the opening of trading hours in the next trading session under the T+1 settlement.
However, any major crash in the stock prices expose the members to the risk of paying scaled up margins, if the existing margins become insufficient to meet the payment obligations under the existing facility. The new facility would mitigate this risk of additional margin payment obligations.
NSE said that the members can opt for T+0 facility at any time, but they need to intimate the Clearing Corporation in advance about the same in a specified format, while they also need to give a prior intimation for revoking this facility.
"The pay-in of T+0 settlement obligation for such clearing members shall be done at 8:30am on the next settlement day," NSE said in the circular.
"Clearing members who opt for pay-in on T+0 basis would not be levied scaled up margins," it added.
The exchange said that non-payment or partial payment of settlement obligation by the scheduled time would be construed as non-compliance and penalties applicable for fund shortages from time to time would be levied.