Description
Settlement schedules for corporate debt segment trading from September 1-30, 2025, covering T+0, T+1, and T+2 settlement cycles.
Summary
BSE has announced the trading and settlement programme for the Corporate Debt Segment (ICDM) for September 2025, providing detailed settlement schedules for T+0, T+1, and T+2 settlement cycles covering all trading days from September 1-30, 2025.
Key Points
- Settlement schedules provided for three cycles: T+0, T+1, and T+2
- Programme covers 22 trading days in September 2025
- Settlement numbers range from 2526102 to 2526122
- All weekends and holidays excluded from trading schedule
- Specific pay-in and pay-out dates defined for each settlement cycle
Settlement Cycles
T+0 Settlement: Same-day settlement with transaction, pay-in, and pay-out occurring on the same date
T+1 Settlement: Next business day settlement with pay-in and pay-out occurring one business day after transaction
T+2 Settlement: Two business day settlement with pay-in and pay-out occurring two business days after transaction
Important Dates
- Programme Period: September 1-30, 2025
- Trading Days: 22 business days
- Non-trading Days: September 5, 6, 7, 13, 14, 20, 21, 27, 28 (weekends)
- Last Settlement Pay-out: October 3, 2025 (for T+2 cycle)
Compliance Requirements
- Market participants must adhere to depository settlement deadline times
- Securities must be transferred to ICCL account within specified timelines
- Reference ICCL Notice No.20091206-01 dated December 6, 2009 for additional details
- All settlement obligations must be met as per the published schedule
Impact Assessment
This is a routine operational circular that ensures smooth functioning of the corporate debt segment. The standardized settlement schedules provide clarity to market participants for planning their trading and settlement activities during September 2025.
Impact Justification
Routine operational schedule for debt segment trading with standard settlement cycles