Description

BSE releases trading and settlement schedule for Securities Lending and Borrowing (SLB) segment for September 2025 with detailed settlement dates.

Summary

BSE has released the comprehensive trading and settlement programme for the Securities Lending and Borrowing (SLB) segment covering the period from September 1, 2025 to September 30, 2025. The circular provides detailed settlement schedules including trading dates, entry confirmation dates, and pay-in/pay-out dates for 22 settlement cycles.

Key Points

  • 22 settlement cycles scheduled from SL-105/25-26 to SL-126/25-26
  • Settlement period covers September 1-30, 2025
  • Standard pay-in timing at 08:00 a.m. with instructions required by 07:50 a.m.
  • Special timings for settlements SL-108 and SL-109 on September 8, 2025
  • Pay-out generally scheduled for next business day after trading

Regulatory Changes

No regulatory changes introduced - this is a routine operational schedule release.

Compliance Requirements

  • Members must submit pay-in instructions to Depositories/Banks by 07:50 a.m. for standard settlements
  • Special timing requirements for September 8, 2025 settlements:
    • SL-108: Pay-in instructions by 07:50 a.m., pay-in at 08:00 a.m., pay-out at 09:30 a.m.
    • SL-109: Pay-in instructions by 10:05 a.m., pay-in at 10:15 a.m., pay-out at 12:00 p.m.
  • All participants must adhere to specified settlement schedules

Important Dates

  • September 1, 2025: First trading date (SL-105)
  • September 8, 2025: Special settlement timings for SL-108 and SL-109
  • September 30, 2025: Last trading date (SL-126)
  • October 1, 2025: Final pay-out date for September settlements

Impact Assessment

This operational schedule ensures smooth functioning of the SLB segment with clear timelines for all participants. The special arrangements for September 8 settlements accommodate market requirements while maintaining settlement efficiency. Medium impact on SLB market participants who must plan their operations according to these schedules.

Impact Justification

Operational schedule affecting SLB segment participants with specific settlement timings