Description

BSE announces the complete trading and settlement schedule for Securities Lending and Borrowing (SLB) segment covering the period from November 1-30, 2025, including settlement numbers, trading dates, and pay-in/pay-out schedules.

Summary

BSE has released the trading and settlement programme for the Securities Lending and Borrowing (SLB) segment for the period from November 1, 2025 to November 30, 2025. The notice provides detailed settlement schedules including settlement numbers (SL-148/25-26 through SL-166/25-26), corresponding depository settlement numbers, trading dates, 6A7A entry and confirmation dates, and pay-in/pay-out dates for 19 trading sessions.

Key Points

  • Notice Number: 20251010-32 dated October 10, 2025
  • Covers 19 settlement cycles from SL-148/25-26 to SL-166/25-26
  • Settlement period: November 1-30, 2025
  • Depository settlement numbers range from 2526148 to 2526166
  • Pay-in time: 08:00 a.m. with instruction submission deadline of 07:50 a.m.
  • Members must submit pay-in instructions to Depositories/Banks by the specified deadline
  • All SLB trading dates align with 6A7A entry and confirmation on the same day
  • Pay-out occurs on T+1 basis (next business day after trading)

Regulatory Changes

No regulatory changes are introduced in this circular. This is a standard operational schedule announcement.

Compliance Requirements

  • SLB segment participants must adhere to the published settlement schedule
  • Members are required to submit pay-in instructions to Depositories/Banks latest by 07:50 a.m. on pay-in dates
  • Pay-in must be completed by 08:00 a.m. on the designated pay-in dates
  • Participants must ensure timely completion of 6A7A entries and confirmations on trading dates

Important Dates

November 2025 Settlement Schedule:

  • First settlement: SL-148/25-26 - Trading: Nov 3, Pay-out: Nov 4
  • Last settlement: SL-166/25-26 - Trading: Nov 28, Pay-out: Dec 1

Non-trading days (inferred from schedule gaps):

  • November 1, 2, 5, 8, 9, 15, 16, 22, 23, 29, 30, 2025

Pay-in/Pay-out Timeline:

  • Pay-in occurs at 08:00 a.m. on the day after trading
  • Pay-out occurs on the same day as pay-in (T+1 settlement cycle)

Impact Assessment

Operational Impact: Medium - This schedule is essential for all participants in the SLB segment to plan their securities lending and borrowing activities, ensure adequate liquidity management, and meet settlement obligations.

Market Impact: Low to Medium - Routine schedule that facilitates smooth functioning of the securities lending and borrowing market. Participants can plan their borrowing/lending strategies based on the confirmed settlement calendar.

Compliance Impact: Medium - Members must ensure operational readiness to meet the 07:50 a.m. instruction submission deadline and 08:00 a.m. pay-in timing to avoid settlement failures or penalties.

Planning Impact: The advance publication of the complete monthly schedule allows market participants to optimize their SLB operations and align with their broader trading and settlement strategies.

Impact Justification

Routine operational circular providing essential settlement calendar for SLB segment participants. Medium importance for market participants engaged in securities lending/borrowing activities who need to plan their operations for November 2025.