Description

BSE announces the trading and settlement schedule for Securities Lending and Borrowing (SLB) segment for December 2025, covering 22 settlement cycles with daily pay-in/pay-out dates.

Summary

BSE has published the trading and settlement programme for the Securities Lending and Borrowing (SLB) segment for the period from December 1, 2025 to December 31, 2025. The schedule covers 22 settlement cycles (SL-167/25-26 through SL-188/25-26) with corresponding depository settlement numbers ranging from 2526167 to 2526188. Each settlement follows a T+1 cycle with same-day trading, 6A7A entry, and confirmation, followed by next-day pay-in/pay-out.

Key Points

  • 22 settlement cycles scheduled for December 2025 (SL-167/25-26 to SL-188/25-26)
  • Trading dates: December 1, 2025 to December 31, 2025
  • T+1 settlement cycle maintained throughout the month
  • Pay-in time: 08:00 a.m. with instructions to be submitted by 07:50 a.m.
  • Settlement cycles skip weekends (December 6-7, 13-14, 20-21, 27-28) and Christmas holiday (December 25)
  • Last settlement (SL-188/25-26) has pay-out on January 1, 2026

Regulatory Changes

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

Compliance Requirements

  • Members must submit pay-in instructions to Depositories/Banks latest by 07:50 a.m. on pay-in dates
  • Pay-in must be completed by 08:00 a.m. on designated dates
  • All SLB 6A7A entries and confirmations must be completed on the trading date itself

Important Dates

  • Period Coverage: 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
  • Non-Trading Days: December 6-7, 13-14, 20-21, 25, 27-28
  • Daily pay-in deadline: 07:50 a.m. for instruction submission, 08:00 a.m. for completion

Impact Assessment

Market Impact: Minimal. This is a routine monthly schedule that provides operational clarity for SLB segment participants.

Operational Impact: Low. The schedule maintains the standard T+1 settlement cycle with no changes to existing processes. Members need to plan their operations around the published settlement dates and ensure timely submission of pay-in instructions.

Participant Impact: Affects all members participating in Securities Lending and Borrowing activities on BSE. The schedule allows participants to plan their SLB transactions and settlement obligations for December 2025 in advance.

Impact Justification

Routine monthly trading and settlement schedule announcement for SLB segment with no regulatory changes or market impact, purely operational calendar information