Description

BSE publishes the complete trading and settlement schedule for the Securities Lending and Borrowing (SLB) segment covering the period from December 1-31, 2025.

Summary

BSE has issued the trading and settlement programme for the Securities Lending and Borrowing (SLB) segment for December 2025. The notice provides a complete schedule of 22 settlement cycles (SL-167/25-26 through SL-188/25-26) covering the period from December 1, 2025 to December 31, 2025. Each settlement follows the standard T+1 pay-in/pay-out cycle.

Key Points

  • 22 settlement cycles scheduled for December 2025 (SL-167/25-26 to SL-188/25-26)
  • Depository settlement numbers range from 2526167 to 2526188
  • Trading date, 6A7A entry, and 6A7A confirmation occur on the same day for each settlement
  • Pay-in/pay-out scheduled for T+1 (next business day after trading)
  • Pay-in time: 08:00 a.m.
  • Members must submit pay-in instructions to Depositories/Banks by 07:50 a.m.
  • No trading scheduled for December 6-7, 13-14, 20-21, 25, 27-28 (weekends and holidays)

Regulatory Changes

No regulatory changes introduced. This is a routine operational schedule.

Compliance Requirements

  • Members must submit pay-in instructions to Depositories/Banks latest by 07:50 a.m. on pay-in day
  • Pay-in must be completed by 08:00 a.m. on the scheduled pay-in date
  • Members must follow the prescribed settlement schedule for all SLB transactions

Important Dates

  • Schedule Period: December 1, 2025 to December 31, 2025
  • First Settlement: SL-167/25-26 - Trading on December 1, Pay-out on December 2
  • Last Settlement: SL-188/25-26 - Trading on December 31, Pay-out on January 1, 2026
  • Notice Date: November 13, 2025
  • Notice Number: 20251113-32

Impact Assessment

Market Impact: Minimal. This is a routine operational schedule that enables market participants to plan their SLB activities for December 2025.

Operational Impact: Low. The schedule follows standard T+1 settlement conventions with no changes to existing procedures. Members already familiar with SLB operations can continue with established workflows.

Participant Action Required: Market participants engaged in securities lending and borrowing should note the settlement dates and ensure timely submission of pay-in instructions as per the prescribed timeline (by 07:50 a.m.).

Impact Justification

Routine operational schedule providing trading and settlement dates for SLB segment. Standard monthly calendar with no material changes to operations or market structure.