Description

BSE announces the complete trading and settlement schedule for the New Debt Segment covering the period from November 1, 2025 to November 30, 2025, including pay-in/pay-out dates and auction schedules.

Summary

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

Key Points

  • Settlement programme covers November 2025 with 19 settlement cycles
  • Settlement numbers range from NDS-143/25-26 to NDS-161/25-26
  • DP Settlement numbers range from 2526143 to 2526161
  • Regular pay-in time: 11:00 a.m. (members must submit instructions by 10:50 a.m.)
  • Auction pay-in time: 9:30 a.m. (members must submit instructions by 9:20 a.m.)
  • T+1 settlement cycle for regular pay-in/pay-out
  • T+2 settlement cycle for auction pay-in/pay-out

Regulatory Changes

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

Compliance Requirements

  • Members must submit pay-in instructions to Depositories/banks latest by 10:50 a.m. for regular settlements (pay-in at 11:00 a.m.)
  • Members must submit auction pay-in instructions to Depositories/banks latest by 9:20 a.m. for auction settlements (auction pay-in at 9:30 a.m.)
  • Members must adhere to the published settlement calendar for NDS transactions

Important Dates

  • November 3, 2025: First trading date (Settlement NDS-143/25-26)
  • November 28, 2025: Last trading date for November cycle (Settlement NDS-161/25-26)
  • December 2, 2025: Final auction pay-out date for November settlements

Complete Settlement Schedule:

Settlement No.Trading Date6A/7A EntryPay-in/Pay-outAuction DateAuction Pay-in/Pay-out
NDS-143/25-2603-11-202503-11-202504-11-202504-11-202506-11-2025
NDS-144/25-2604-11-202504-11-202506-11-202506-11-202507-11-2025
NDS-145/25-2606-11-202506-11-202507-11-202507-11-202510-11-2025
NDS-146/25-2607-11-202507-11-202510-11-202510-11-202511-11-2025
NDS-147/25-2610-11-202510-11-202511-11-202511-11-202512-11-2025
NDS-148/25-2611-11-202511-11-202512-11-202512-11-202513-11-2025
NDS-149/25-2612-11-202512-11-202513-11-202513-11-202514-11-2025
NDS-150/25-2613-11-202513-11-202514-11-202514-11-202517-11-2025
NDS-151/25-2614-11-202514-11-202517-11-202517-11-202518-11-2025
NDS-152/25-2617-11-202517-11-202518-11-202518-11-202519-11-2025
NDS-153/25-2618-11-202518-11-202519-11-202519-11-202520-11-2025
NDS-154/25-2619-11-202519-11-202520-11-202520-11-202521-11-2025
NDS-155/25-2620-11-202520-11-202521-11-202521-11-202524-11-2025
NDS-156/25-2621-11-202521-11-202524-11-202524-11-202525-11-2025
NDS-157/25-2624-11-202524-11-202525-11-202525-11-202526-11-2025
NDS-158/25-2625-11-202525-11-202526-11-202526-11-202527-11-2025
NDS-159/25-2626-11-202526-11-202527-11-202527-11-202528-11-2025
NDS-160/25-2627-11-202527-11-202528-11-202528-11-202501-12-2025
NDS-161/25-2628-11-202528-11-202501-12-202501-12-202502-12-2025

Impact Assessment

Operational Impact: Low - This is a routine monthly calendar publication that debt market participants use for planning settlements.

Market Impact: Minimal - No changes to trading rules or settlement procedures. Standard operational schedule.

Affected Participants: NDS trading members, clearing corporations, depositories, and banks involved in debt market settlements.

Continuity: The schedule maintains the regular T+1 settlement cycle for trading and T+2 for auctions, ensuring smooth debt market operations throughout November 2025.

Impact Justification

Routine operational circular providing standard monthly settlement schedule for debt segment. No policy changes or compliance requirements, purely informational calendar for market participants.