Description

BSE announces the complete trading and settlement schedule for the Corporate Debt Segment (ICDM) for T+0, T+1, and T+2 settlement cycles covering the period from January 1-31, 2026.

Summary

BSE has published the trading and settlement programme for the Corporate Debt Segment (ICDM - Indian Corporate Debt Market) for January 2026. The circular provides comprehensive settlement schedules for three settlement cycles: T+0, T+1, and T+2, covering 21 trading days from January 1-31, 2026. Settlement numbers range from 2526185 to 2526205.

Key Points

  • Settlement schedules announced for T+0, T+1, and T+2 cycles in the Corporate Debt Segment
  • Coverage period: January 1, 2026 to January 31, 2026
  • 21 trading days scheduled for the month
  • Settlement numbers: 2526185 through 2526205
  • Non-trading dates: January 3-4, 10-11, 17-18, 24-26, 31 (weekends and holidays)
  • Market participants must adhere to depository settlement deadline times for respective market types

Regulatory Changes

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

Compliance Requirements

  • Market participants must check depository settlement deadline times for respective market types
  • Securities must be transferred to ICCL account within specified timelines
  • Participants should refer to ICCL Notice No.20091206-01 dated December 6, 2009 for detailed settlement procedures
  • Securities/funds pay-in must be completed on specified dates for each settlement number

Important Dates

Trading Period: January 1-31, 2026

T+0 Settlement: Same-day pay-in and pay-out (21 settlements)

T+1 Settlement: Next business day settlement

  • First settlement: Transaction 01-01-2026, Settlement 02-01-2026
  • Last settlement: Transaction 30-01-2026, Settlement 02-02-2026

T+2 Settlement: Two business days settlement

  • First settlement: Transaction 01-01-2026, Settlement 05-01-2026
  • Last settlement: Transaction 30-01-2026, Settlement 03-02-2026

Non-Trading Days: January 3, 4, 10, 11, 17, 18, 24, 25, 26, 31, 2026

Impact Assessment

Market Impact: Minimal. This is a routine administrative circular providing advance notice of settlement schedules.

Operational Impact: Medium for debt market participants who need to plan their settlement operations, fund management, and securities transfer activities for January 2026.

Participant Action Required: Debt segment participants should integrate these dates into their operational calendars and ensure compliance with pay-in/pay-out timelines. Treasury and settlement teams should note the extended settlement dates for transactions executed on January 30, 2026, which will settle in February 2026.

Impact Justification

Routine monthly settlement schedule announcement for corporate debt segment with standard T+0, T+1, and T+2 settlement cycles. No regulatory changes or special provisions.