Description

BSE announces revised trading and settlement schedule for ITP SME segment from September 1-30, 2025, with special timing adjustments for certain settlement dates.

Summary

BSE has issued a revised trading and settlement programme for the Institutional Trading Platform (ITP) - SME segment covering the period from September 1-30, 2025. The circular provides detailed settlement schedules with 21 trading sessions (ITP-105/25-26 through ITP-125/25-26) and specifies special timing arrangements for certain settlement dates.

Key Points

  • Trading period covers September 1-30, 2025 for ITP SME segment
  • 21 settlement cycles from ITP-105/25-26 to ITP-125/25-26
  • Standard pay-in at 10:00 a.m. with pay-out by 11:00 a.m.
  • Special extended timing arrangements for four specific settlement dates
  • Members must submit pay-in instructions to depositories/banks by 09:50 a.m. (standard timing)

Regulatory Changes

No regulatory changes announced - this is an operational schedule revision with modified settlement timings for specific dates in September 2025.

Compliance Requirements

  • Members must adhere to revised settlement schedule
  • Pay-in instructions must be submitted to depositories/banks by specified deadlines
  • Standard deadline: 09:50 a.m. for regular settlements
  • Extended deadline: 04:20 p.m. for afternoon settlements on specific dates

Important Dates

Special Settlement Timing Adjustments:

  • September 4, 2025 (Settlement 9/9): Pay-in 10:00 a.m., Pay-out 12:30 p.m.
  • September 5, 2025 (Settlement 9/9): Pay-in 04:30 p.m., Pay-out 09:30 p.m.
  • September 8, 2025 (Settlement 10/9): Pay-in 10:00 a.m., Pay-out 12:30 p.m.
  • September 9, 2025 (Settlement 10/9): Pay-in 04:30 p.m., Pay-out 09:30 p.m.

Trading Period: September 1-30, 2025

Impact Assessment

This revision primarily affects institutional traders operating in the SME segment of BSE’s ITP platform. The modified settlement timings for four specific dates (September 4, 5, 8, and 9) require operational adjustments from members to accommodate extended pay-in and pay-out schedules. The changes appear designed to manage settlement efficiency during specific market conditions in early September 2025.

Impact Justification

Operational schedule affecting institutional trading platform for SME segment with modified settlement timings