Description

BSE announces the trading and settlement schedule for the New Debt Segment (NDS) covering the period from November 1, 2025 to November 30, 2025, including settlement numbers, trading dates, and pay-in/pay-out timelines.

Summary

BSE has published the trading and settlement programme for the New Debt Segment (NDS) for the period November 1-30, 2025. The circular provides detailed settlement schedules including 19 settlement cycles (NDS-143/25-26 through NDS-161/25-26) with corresponding trading dates, entry/confirmation dates, pay-in/pay-out dates, and auction dates.

Key Points

  • Settlement programme covers 19 trading days in November 2025
  • Settlement numbers range from NDS-143/25-26 to NDS-161/25-26
  • DP Settlement numbers: 2526143 to 2526161
  • Regular pay-in time: 11:00 AM (members must submit instructions by 10:50 AM)
  • Auction pay-in time: 9:30 AM (members must submit instructions by 9:20 AM)
  • First trading date: November 3, 2025
  • Last trading date: November 28, 2025
  • T+1 settlement cycle for regular transactions
  • T+2 settlement cycle for auction transactions

Regulatory Changes

No regulatory changes introduced. This is a routine operational schedule announcement.

Compliance Requirements

  • Members must submit pay-in instructions to Depositories/banks by 10:50 AM for regular settlements (pay-in at 11:00 AM)
  • Members must submit pay-in instructions to Depositories/banks by 9:20 AM for auction settlements (auction pay-in at 9:30 AM)
  • All participants in the NDS segment must adhere to the published settlement calendar

Important Dates

Programme Period: November 1-30, 2025

Key Settlement Dates:

  • First settlement: NDS-143/25-26 - Trading: Nov 3, Pay-in/out: Nov 4, Auction: Nov 6
  • Last settlement: NDS-161/25-26 - Trading: Nov 28, Pay-in/out: Dec 1, Auction: Dec 2

Holiday Impact:

  • No trading scheduled for November 1-2, 2025 (weekend)
  • Settlement gaps visible on November 5, 8-9, 15-16, 22-23, 29-30, 2025

Impact Assessment

Market Impact: Minimal - routine operational schedule with no changes to existing procedures

Operational Impact: Low - standard monthly calendar publication allowing market participants to plan debt segment trading and settlement activities

Segment Affected: New Debt Segment (NDS) only

Participant Action Required: Review and incorporate the settlement schedule into internal systems and operations planning for November 2025

Impact Justification

Routine monthly settlement schedule announcement for debt segment with no regulatory changes or market impact beyond operational planning