Description

BSE revises SLB segment trading and settlement schedule for September 2025 due to settlement calendar changes per RBI guidelines.

Summary

BSE has revised the trading and settlement programme for the Securities Lending and Borrowing (SLB) segment for the period from September 1, 2025 to September 30, 2025. This revision follows RBI press release dated September 4, 2025 regarding changes in settlement calendar.

Key Points

  • Revised settlement schedule covers September 1-30, 2025
  • Changes are based on RBI press release dated September 4, 2025
  • Settlement numbers range from SL-105/25-26 to SL-126/25-26
  • Special timing arrangements for certain settlement dates
  • Pay-in instructions must be submitted to depositories/banks by specified cutoff times

Regulatory Changes

  • Modified settlement calendar as per RBI guidelines
  • Updated pay-in and pay-out timings for specific settlement dates
  • Revised submission deadlines for pay-in instructions

Compliance Requirements

  • Members must adhere to revised settlement schedule
  • Pay-in instructions must be submitted to depositories/banks by 07:50 a.m. (standard timing)
  • Special timing requirements for settlements SL-108 and SL-109 on September 9-10, 2025
  • Pay-in at 08:00 a.m. with members required to submit instructions by 07:50 a.m.

Important Dates

  • Effective Period: September 1-30, 2025
  • Special Settlement Dates: September 9-10, 2025 with modified timings
  • Settlement SL-108/25-26: Trade date September 4, Pay-in/Pay-out September 9
  • Settlement SL-109/25-26: Trade date September 5, Pay-in/Pay-out September 9
  • Settlement SL-110/25-26: Trade date September 8, Pay-in/Pay-out September 10
  • Settlement SL-111/25-26: Trade date September 9, Pay-in/Pay-out September 10

Impact Assessment

  • Affects all SLB segment participants and their settlement operations
  • Requires operational adjustments for special timing arrangements on September 9-10
  • Members need to update their internal systems and processes to accommodate revised schedule
  • Minimal market disruption expected as this is primarily an operational schedule adjustment

Impact Justification

Operational schedule revision affecting SLB segment trading and settlement procedures