Description

BSE releases the complete trading and settlement schedule for the EGR (Electronic Gold Receipts) segment covering the period from September 1 to September 30, 2025.

Summary

BSE has published the comprehensive trading and settlement programme for the Electronic Gold Receipts (EGR) segment for September 2025. The schedule covers 22 trading sessions from September 1 to September 30, 2025, detailing delivery registration (DR) and receipt auction (RA) cycles with specific settlement dates.

Key Points

  • Trading programme covers 22 sessions from DR-110/2025-2026 to DR-131/2025-2026
  • Each delivery registration cycle is followed by corresponding receipt auction cycle
  • Settlement cycles range from T+1 to T+4 depending on weekends and holidays
  • Pay-in instructions must be submitted by 2:00 PM for regular settlements
  • Auction pay-in requires submission by 8:50 AM with pay-in at 9:00 AM
  • Pay-out of funds and securities completed by 4:00 PM

Regulatory Changes

No regulatory changes introduced - this is a standard operational schedule publication.

Compliance Requirements

  • Members must submit pay-in instructions to depositories/banks by 2:00 PM for regular settlements
  • For auction settlements, pay-in instructions must be submitted by 8:50 AM
  • Strict adherence to published settlement dates is mandatory
  • All EGR segment participants must follow the prescribed timeline

Important Dates

  • Programme Period: September 1-30, 2025
  • First Session: DR-110/2025-2026 starting September 1, 2025
  • Last Session: DR-131/2025-2026 ending September 30, 2025
  • Extended Settlements: Several cycles extend into October due to month-end
  • Daily Cut-off: 2:00 PM for pay-in instructions (8:50 AM for auctions)

Impact Assessment

This schedule provides operational clarity for EGR segment participants, enabling proper planning for gold trading activities. The structured timeline ensures smooth settlement processes and reduces operational risks. Impact is primarily operational, affecting market participants engaged in electronic gold receipts trading without broader market implications.

Impact Justification

Operational schedule for EGR segment affecting trading participants but not impacting broader market structure