Description

BSE announces the trading and settlement schedule for Basket Repo and Special Repo segments from December 1-31, 2025, including Ready Leg T+0, T+1, and Forward Leg settlement timings.

Summary

BSE has published the trading and settlement programme for the Basket Repo and Special Repo segments for December 2025 (01.12.2025 to 31.12.2025). The circular provides detailed settlement schedules for Ready Leg T+0, Ready Leg T+1, and Forward Leg transactions, along with specific pay-in and pay-out timings for each settlement type.

Key Points

  • Settlement schedule covers 22 trading days in December 2025 (excluding December 13, 14, 20, 21, 25, 27, 28)
  • Three settlement types: Ready Leg T+0, Ready Leg T+1, and Forward Leg
  • Settlement numbers range from 2526163 to 2526184
  • All settlements follow T+0 or T+1 cycles with same-day or next-day pay-in/pay-out
  • Last settlement (2526184) on December 31, 2025 settles on January 1, 2026

Settlement Timings

Ready Leg T+0

  • BASKET Repo Pay-in: 02:15 PM
  • BASKET Repo Pay-out: By 03:00 PM
  • SPECIAL Repo Pay-in/Pay-out: By 03:00 PM

Ready Leg T+1

  • BASKET Repo Pay-in: 02:15 PM
  • BASKET Repo Pay-out: By 03:00 PM
  • SPECIAL Repo Pay-in/Pay-out: By 01:00 PM

Forward Leg

  • BASKET Repo Pay-in: 02:15 PM
  • BASKET Repo Pay-out: By 03:00 PM
  • SPECIAL Repo Pay-in/Pay-out: By 03:00 PM

Important Dates

  • Effective Period: December 1, 2025 to December 31, 2025
  • Trading Days: 22 days (excluding weekends and December 25, 2025)
  • First Settlement: December 1, 2025 (Settlement No. 2526163)
  • Last Settlement: December 31, 2025 (Settlement No. 2526184, settles January 1, 2026)

Compliance Requirements

  • Market participants must adhere to specified pay-in timings for securities and funds
  • Participants should refer to ICCL Notice No. 20180525-18 dated May 25, 2018 for additional details
  • Transactions must follow the designated settlement cycles (T+0 or T+1) as per the schedule

Impact Assessment

This is a routine operational circular with minimal market impact. It provides advance notice of settlement schedules to enable proper planning by repo market participants. The schedule ensures smooth settlement operations during December 2025, including the year-end period. No changes to existing settlement mechanisms or timings are introduced.

Impact Justification

Routine monthly settlement schedule announcement for repo segment with no regulatory changes or market impact beyond operational planning