Description
BSE announces the trading and settlement schedule for the Institutional Trading Platform (ITP) in the SME segment covering the period from November 1 to November 30, 2025, with 19 settlement cycles.
Summary
BSE has published the trading and settlement programme for the Institutional Trading Platform (ITP) in the SME segment for November 2025. The schedule covers 19 settlement cycles (ITP-148/25-26 through ITP-166/25-26) with corresponding trading dates and pay-in/pay-out dates. This is a routine operational schedule following the standard T+1 settlement cycle for the ITP-SME segment.
Key Points
- Settlement programme covers period from November 1, 2025 to November 30, 2025
- 19 settlement cycles scheduled for the month (ITP-148/25-26 to ITP-166/25-26)
- Pay-in deadline: 10:00 AM on settlement day
- Members must submit pay-in instructions to depositories/banks by 9:50 AM
- Pay-out of funds and securities will be completed by 11:00 AM
- First trading date: November 3, 2025 (Settlement No. ITP-148/25-26)
- Last trading date in schedule: November 28, 2025 (Settlement No. ITP-166/25-26)
- Depository settlement numbers range from 2526148 to 2526166
Regulatory Changes
No regulatory changes introduced. This is a routine settlement calendar announcement.
Compliance Requirements
- For Members: Submit pay-in instructions to depositories and banks latest by 9:50 AM on settlement day
- Pay-in Timing: Complete pay-in by 10:00 AM on designated pay-in/pay-out date
- Record Keeping: Track settlement numbers for reconciliation and audit purposes
- Operational Readiness: Ensure systems are configured for all scheduled settlement dates
Important Dates
November 2025 Settlement Schedule
| Settlement No. | Trading Date | Pay-in/Pay-out Date |
|---|---|---|
| ITP-148/25-26 | Nov 3, 2025 | Nov 4, 2025 |
| ITP-149/25-26 | Nov 4, 2025 | Nov 6, 2025 |
| ITP-150/25-26 | Nov 6, 2025 | Nov 7, 2025 |
| ITP-151/25-26 | Nov 7, 2025 | Nov 10, 2025 |
| ITP-152/25-26 | Nov 10, 2025 | Nov 11, 2025 |
| ITP-153/25-26 | Nov 11, 2025 | Nov 12, 2025 |
| ITP-154/25-26 | Nov 12, 2025 | Nov 13, 2025 |
| ITP-155/25-26 | Nov 13, 2025 | Nov 14, 2025 |
| ITP-156/25-26 | Nov 14, 2025 | Nov 17, 2025 |
| ITP-157/25-26 | Nov 17, 2025 | Nov 18, 2025 |
| ITP-158/25-26 | Nov 18, 2025 | Nov 19, 2025 |
| ITP-159/25-26 | Nov 19, 2025 | Nov 20, 2025 |
| ITP-160/25-26 | Nov 20, 2025 | Nov 21, 2025 |
| ITP-161/25-26 | Nov 21, 2025 | Nov 24, 2025 |
| ITP-162/25-26 | Nov 24, 2025 | Nov 25, 2025 |
| ITP-163/25-26 | Nov 25, 2025 | Nov 26, 2025 |
| ITP-164/25-26 | Nov 26, 2025 | Nov 27, 2025 |
| ITP-165/25-26 | Nov 27, 2025 | Nov 28, 2025 |
| ITP-166/25-26 | Nov 28, 2025 | Dec 1, 2025 |
Notice Date: October 10, 2025
Notice Number: 20251010-34
Effective Period: November 1-30, 2025
Impact Assessment
Market Impact: Minimal - This is a routine operational schedule with no changes to settlement mechanisms or trading rules.
Operational Impact: Standard - Institutional participants and clearing members need to note the settlement calendar for operational planning and liquidity management.
Stakeholder Impact:
- Institutional Investors: Need to plan trading and settlement activities according to the published schedule
- Clearing Members: Must ensure adequate funds and securities availability on designated settlement dates
- Back Office Operations: Required to configure systems and reconciliation processes for all 19 settlement cycles
Liquidity Considerations: Members should ensure adequate liquidity management given the specific pay-in/pay-out timings, particularly the 9:50 AM instruction deadline and 10:00 AM pay-in completion requirement.
Notice Issued By: Indian Clearing Corporation Ltd. (Tajindersingh Virdi, Sr. Manager)
Impact Justification
Routine monthly settlement schedule notification for ITP-SME segment with no policy changes or market-wide impact, primarily informational for institutional participants