Description
Settlement schedules for T+0, T+1, and T+2 transactions in Corporate Debt Segment for September 2025 trading period.
Summary
BSE has published the trading and settlement programme for the Corporate Debt Segment covering the period from September 1, 2025 to September 30, 2025. The circular provides detailed settlement schedules for T+0, T+1, and T+2 transactions in the ICDM (Integrated Corporate Debt Market).
Key Points
- Settlement schedules cover 22 trading days in September 2025
- Three settlement cycles: T+0 (same day), T+1 (next day), T+2 (two days later)
- Settlement numbers range from 2526102 to 2526122
- All weekends and holidays are excluded from trading calendar
- Depository settlement deadline compliance required for securities transfer
Settlement Cycles
T+0 Settlement
- Transaction, pay-in, and pay-out all occur on the same day
- Immediate settlement for all trading days
T+1 Settlement
- Securities/funds pay-in and pay-out one day after transaction
- Weekend gaps accounted for in schedule
T+2 Settlement
- Securities/funds pay-in and pay-out two days after transaction
- Extended settlement period for complex transactions
Important Dates
- Effective Period: September 1-30, 2025
- First Trading Day: September 1, 2025
- Last Trading Day: September 30, 2025
- Holiday Gaps: September 5-7 (weekend), September 13-14 (weekend), September 20-21 (weekend), September 27-28 (weekend)
Compliance Requirements
- Market participants must adhere to depository settlement deadline times
- Securities must be transferred to ICCL account within specified timeframes
- Reference to ICCL Notice No.20091206-01 dated December 6, 2009 for detailed guidelines
Impact Assessment
This is a routine operational circular that provides essential trading calendar information for debt market participants. It ensures smooth settlement operations and helps market participants plan their trading and settlement activities for September 2025.
Impact Justification
Standard monthly settlement calendar for debt segment operations