What is Quarterly Settlement in Trading Account?

According to SEBI’s policy on Monthly/Quarterly Settlement in Trading Account, dated July 27th, 2022, the broker must refund unutilized funds to the client’s bank account on a monthly or quarterly basis, depending on the client’s preferred frequency. Starting October 1st, 2022, unused funds will be settled on the first Friday of October, January, April, and July, for clients who have chosen quarterly settlement. However, if Friday is not a trading day, the settlement will take place on the preceding business day. Investors should note that the first Friday of the April-June 2023 quarter (i.e., April 7th, 2023) is a trading holiday. Therefore, the settlement of the running account of the client’s funds will be carried out by Alice Blue on the previous trading day, i.e., April 6th, 2023 (Thursday), in accordance with the aforementioned circulars. To Know more Click here
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