Description
BSE announces the trading and settlement schedule for the EGR (Electronic Gold Receipts) segment covering the period from November 3, 2025 to November 28, 2025, including settlement numbers, trading dates, pay-in/pay-out dates, and auction schedules.
Summary
BSE has issued the trading and settlement programme for the Electronic Gold Receipts (EGR) segment for the period from November 3, 2025 to November 28, 2025. The circular provides a detailed schedule of settlement numbers (DR-154/2025-2026 through DR-173/2025-2026), corresponding trading dates, pay-in/pay-out dates, and auction settlement schedules. The programme covers 20 regular settlements and their associated auction settlements during this period.
Key Points
- Settlement programme covers November 3, 2025 to November 28, 2025
- 20 regular settlements scheduled (DR-154 through DR-173 for FY 2025-2026)
- Each regular settlement has a corresponding auction settlement (RA-154 through RA-173)
- Depository settlement numbers range from 2526154 to 2526173
- Pay-in deadline is 2:00 PM with members required to submit instructions to depositories/banks by this time
- Pay-out of funds and securities will be completed by 4:00 PM
- Auction pay-in timing is 9:00 AM with submission deadline of 8:50 AM
- Standard T+1 settlement cycle applies for most trading dates
- Weekend and holiday adjustments incorporated in the schedule
Regulatory Changes
No regulatory changes introduced. This is a routine operational circular providing the scheduled trading and settlement calendar.
Compliance Requirements
- Members must submit pay-in instructions to depositories/banks by 2:00 PM for regular settlements
- Members must submit auction pay-in instructions to depositories/banks by 8:50 AM for auction settlements
- Members must adhere to the specified settlement numbers for depository purposes
- Timely completion of pay-in obligations is mandatory to ensure smooth settlement process
Important Dates
Settlement Period: November 3, 2025 to November 28, 2025
First Settlement:
- Trading Date: November 3, 2025
- Pay-in/Pay-out: November 4, 2025
- Settlement No: DR-154/2025-2026
Last Settlement:
- Trading Date: November 28, 2025
- Pay-in/Pay-out: December 1, 2025
- Settlement No: DR-173/2025-2026
Key Timings:
- Regular pay-in deadline: 2:00 PM
- Pay-out completion: 4:00 PM
- Auction pay-in: 9:00 AM
- Auction instruction submission: 8:50 AM
Impact Assessment
Market Impact: Minimal. This is a routine operational circular that provides advance notice of settlement schedules to facilitate planning.
Operational Impact: Low. The circular enables EGR segment participants to plan their trading and settlement activities in advance. The schedule follows standard settlement cycles with appropriate adjustments for weekends.
Participant Impact: Informational only for EGR segment participants. Members trading in Electronic Gold Receipts need to note the specific settlement dates and timings to ensure compliance with pay-in/pay-out requirements.
Liquidity Impact: None. The regular publication of settlement calendars supports operational efficiency in the EGR segment.
Impact Justification
Routine administrative circular providing settlement calendar for EGR segment operations. Standard operational information with no policy changes or compliance requirements affecting broader market participants.