Description

BSE announces trading and settlement schedule for New Debt Segment covering September 1-30, 2025 with detailed settlement numbers and dates.

Summary

BSE has announced the comprehensive trading and settlement programme for the New Debt Segment (NDS) covering the period from September 1, 2025 to September 30, 2025. The circular provides detailed settlement schedules including settlement numbers, trading dates, pay-in/pay-out dates, and auction dates for 21 settlement cycles.

Key Points

  • Trading programme covers 21 settlement cycles from NDS-102/25-26 to NDS-122/25-26
  • Each settlement cycle includes specific dates for trading, 6A/7A entry confirmation, pay-in/pay-out, and auction processes
  • Pay-in deadline is 11:00 a.m. with member instructions to depositories/banks by 10:50 a.m.
  • Auction pay-in deadline is 9:30 a.m. with member instructions required by 9:20 a.m.
  • Settlement period spans from September 1, 2025 to October 3, 2025 (including spillover)

Regulatory Changes

No regulatory changes announced - this is a standard operational schedule notification.

Compliance Requirements

  • Members must submit pay-in instructions to depositories/banks by specified deadlines
  • Regular pay-in instructions must be submitted by 10:50 a.m. for 11:00 a.m. pay-in
  • Auction pay-in instructions must be submitted by 9:20 a.m. for 9:30 a.m. pay-in
  • All participants must adhere to the published settlement schedule

Important Dates

  • Programme Start: September 1, 2025
  • Programme End: September 30, 2025
  • Final Settlement Pay-out: October 3, 2025
  • Daily pay-in deadlines: 11:00 a.m. (regular) and 9:30 a.m. (auction)
  • Member instruction deadlines: 10:50 a.m. (regular) and 9:20 a.m. (auction)

Impact Assessment

This operational schedule provides certainty for debt market participants planning their September 2025 activities. The detailed timeline ensures smooth settlement operations in the New Debt Segment, with clear deadlines for all market participants to manage their cash flows and settlement obligations effectively.

Impact Justification

Operational schedule announcement affecting debt market participants with specific settlement timelines