Description

BSE announces the trading and settlement schedule for the Corporate Debt Segment (ICDM) for the period from November 1, 2025 to November 30, 2025, covering T+0, T+1, and T+2 settlement cycles.

Summary

BSE has published the trading and settlement programme for the Corporate Debt Segment (ICDM) covering the period from November 1, 2025 to November 30, 2025. The circular outlines settlement schedules for three settlement cycles: T+0, T+1, and T+2, with 19 settlement numbers (2526144 to 2526162) scheduled throughout the month.

Key Points

  • Settlement schedule covers November 1-30, 2025 for Corporate Debt Segment
  • Three settlement cycles provided: T+0 (same day), T+1 (next day), and T+2 (two days)
  • 19 trading days scheduled in November 2025
  • Settlement numbers range from 2526144 to 2526162
  • No trading on November 5, 8, 9, 15, 16, 22, 23, 29, and 30 (weekends and holidays)
  • Members must adhere to depository settlement deadline times for respective market types

Regulatory Changes

No regulatory changes announced. This is a routine operational schedule publication.

Compliance Requirements

  • Market participants must check depository settlement deadline times for respective market types
  • Securities must be transferred to ICCL account within stipulated timelines
  • Members should refer to ICCL Notice No.20091206-01 dated December 6, 2009 for additional settlement details
  • Pay-in and pay-out of securities and funds must be completed as per the published schedule

Important Dates

Effective Period: November 1, 2025 to November 30, 2025

First Settlement: November 3, 2025 (Settlement No. 2526144)

Last Settlement: November 28, 2025 (Settlement No. 2526162) with T+1 payout on December 1, 2025 and T+2 payout on December 2, 2025

Non-Trading Days in November 2025: November 5, 8, 9, 15, 16, 22, 23, 29, 30

Impact Assessment

Market Impact: Minimal. This is a routine monthly settlement schedule that enables market participants to plan their corporate debt trading and settlement activities.

Operational Impact: Low. Market participants trading in corporate debt securities need to plan their fund and security transfers according to the published schedule. The schedule provides clarity on settlement timelines across different settlement cycles (T+0, T+1, T+2), allowing for efficient operational planning.

Investor Impact: None. This is an operational schedule for market infrastructure and does not affect trading rules or investor rights.

Impact Justification

Routine monthly settlement schedule publication for corporate debt segment with no changes to settlement procedures or regulations. Informational notice for operational planning.