Description

BSE trading and settlement schedule for cash segment covering the period from November 1, 2025 to November 30, 2025, including both T+1 and T+0 settlement cycles with detailed pay-in/pay-out dates.

Summary

BSE has issued the trading and settlement programme for the Cash Segment covering the period from November 1, 2025 to November 30, 2025. The notice details settlement numbers, trading dates, and corresponding pay-in/pay-out dates for both T+1 and T+0 settlement cycles. The schedule includes 19 trading days with corresponding settlement cycles (DR-748 to DR-766 for T+1, and DR-443 to DR-461 for T+0) and associated auction settlements.

Key Points

  • Settlement schedule covers November 1-30, 2025 for BSE Cash Segment
  • Both T+1 and T+0 settlement cycles are included
  • T+1 cycle includes 19 regular settlements (DR-748/25-26 to DR-766/25-26) with corresponding auction settlements (RA-748/25-26 to RA-766/25-26)
  • T+0 cycle includes 19 settlements (DR-443/25-26 to DR-461/25-26)
  • OTR allocation (Give-up entry) allowed until 8:00 PM on T day
  • OTR confirmation (Take-up entry) by custodians until 7:30 AM on T+1 day
  • Pay-in deadline: 10:30 AM with pay-out by 1:30 PM
  • Auction pay-in at 8:00 AM
  • Entry and confirmation of 6A/7A data by members and custodians on specified dates

Regulatory Changes

No regulatory changes introduced. This is a standard operational schedule notice.

Compliance Requirements

  • Members must submit pay-in instructions to Depositories/Banks latest by 10:30 AM
  • Members must enter OTR allocation (Give-up entry) by 8:00 PM on T day
  • Custodians must complete OTR confirmation (Take-up entry) by 7:30 AM on T+1 day
  • Members must enter 6A/7A data on the specified trading date
  • Custodians must confirm 6A/7A data on the date specified for each settlement
  • Auction offers must be submitted on the designated auction settlement dates
  • Members must submit auction pay-in instructions by 8:00 AM

Important Dates

T+1 Settlement Cycle:

  • First trading date: November 3, 2025 (Settlement DR-748/25-26)
  • Last trading date: November 28, 2025 (Settlement DR-766/25-26)
  • Last pay-out date: December 2, 2025 (Auction RA-766/25-26)

T+0 Settlement Cycle:

  • First trading date: November 3, 2025 (Settlement DR-443/25-26)
  • Last trading date: November 28, 2025 (Settlement DR-461/25-26)

Key Operational Times:

  • OTR allocation deadline: 8:00 PM on T day
  • OTR confirmation deadline: 7:30 AM on T+1 day
  • Pay-in instruction deadline: 10:30 AM
  • Pay-out completion: 1:30 PM
  • Auction pay-in: 8:00 AM

Impact Assessment

Operational Impact: This schedule is critical for planning by all market participants including brokers, custodians, clearing members, and investors. It ensures smooth functioning of settlement operations throughout November 2025.

Market Participants Affected: All trading members, clearing members, custodians, depositories, and investors participating in BSE cash segment equity trading.

Planning Considerations: The schedule accounts for weekends and maintains the T+1 rolling settlement pattern with corresponding auction settlements typically occurring 2 business days after the trading date. Market participants should note the transition to December for the final auction settlement (December 2, 2025) for trades executed on November 28, 2025.

Impact Justification

Routine monthly trading and settlement schedule essential for operational planning by all market participants. Medium impact as it affects daily trading operations but is a standard recurring notice.