Description

BSE publishes the complete trading and settlement schedule for Basket Repo and Special Repo segments covering the period from November 1 to November 30, 2025, including settlement numbers, dates, and timings for ready leg T+0, T+1, and forward leg transactions.

Summary

BSE has issued the trading and settlement programme for the Basket Repo and Special Repo segment for November 2025 (November 1-30, 2025). The circular provides detailed settlement schedules for ready leg T+0, ready leg T+1, and forward leg transactions, covering 19 settlement numbers from 2526144 to 2526162. Settlement timings remain unchanged with ready leg T+0 pay-in at 2:15 PM and pay-out by 3:00 PM for Basket Repo.

Key Points

  • Settlement schedule covers November 1-30, 2025 with 19 trading days
  • Settlement numbers range from 2526144 (November 3) to 2526162 (November 28)
  • Three settlement types: Ready Leg T+0, Ready Leg T+1, and Forward Leg
  • Ready Leg T+0: Same-day securities and funds pay-in and pay-out
  • Ready Leg T+1: Next business day settlement for securities and funds
  • Forward Leg: Next business day settlement after transaction date
  • Settlement timings: Basket Repo pay-in at 2:15 PM, pay-out by 3:00 PM
  • Special Repo ready leg T+0 pay-out by 3:00 PM, T+1 by 1:00 PM
  • Refers to ICCL Notice No.20180525-18 dated May 25, 2018 for additional details

Regulatory Changes

No regulatory changes introduced. This is a routine monthly settlement schedule publication.

Compliance Requirements

  • Market participants in Basket Repo and Special Repo segments must adhere to the published settlement schedule
  • Securities and funds pay-in must be completed by 2:15 PM on designated dates
  • Participants must ensure availability of securities and funds as per the settlement calendar
  • Compliance with settlement timings is mandatory for all ready leg and forward leg transactions

Important Dates

  • Effective Period: November 1-30, 2025
  • First Settlement: November 3, 2025 (Settlement No. 2526144)
  • Last Settlement: November 28, 2025 (Settlement No. 2526162)
  • Non-Trading Days: November 1, 2, 5, 8, 9, 15, 16, 22, 23, 29, 30 (weekends and holidays)
  • Settlement Pay-in Time: 2:15 PM daily
  • Basket Repo Pay-out: By 3:00 PM (all settlement types)
  • Special Repo Pay-out: By 3:00 PM (T+0 and Forward Leg), By 1:00 PM (T+1 Ready Leg)

Impact Assessment

Market Impact: Minimal. This is a routine operational circular providing advance notice of settlement schedules.

Operational Impact: Low to medium for repo market participants who need to plan their liquidity and securities management for November 2025. The schedule enables participants to:

  • Plan funding requirements in advance
  • Manage collateral availability
  • Schedule internal settlement operations
  • Coordinate with clearing corporation (ICCL)

Stakeholder Impact: Primarily affects banks, primary dealers, financial institutions, and other entities participating in repo transactions on BSE’s debt segment. No impact on equity market participants or retail investors.

Impact Justification

Routine monthly settlement schedule for repo segment with no regulatory changes or market impact; operational information for repo market participants only