Description

Settlement schedule for ICDM T+0, T+1, and T+2 transactions in the Corporate Debt Segment for the period from January 1-31, 2026.

Summary

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

Key Points

  • Settlement schedules cover January 1-31, 2026 for Corporate Debt Segment
  • Three settlement cycles provided: T+0 (same day), T+1 (next day), and T+2 (two days)
  • Total of 21 settlement numbers allocated (2526185 to 2526205)
  • Market closed on January 3-4, 10-11, 17-18, 24-26, 31 (weekends and holidays)
  • Members must check depository settlement deadline times for respective market types
  • Securities must be transferred to ICCL account within specified timelines

Regulatory Changes

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

Compliance Requirements

  • Trading members must adhere to the published settlement schedule for all ICDM transactions
  • Members must transfer securities to ICCL account before depository settlement deadlines
  • Reference to ICCL Notice No.20091206-01 dated December 6, 2009 for detailed settlement procedures
  • Securities and funds pay-in must be completed on specified dates for each settlement cycle

Important Dates

  • Effective Period: January 1-31, 2026
  • First Settlement: January 1, 2026 (Settlement No. 2526185)
  • Last Settlement: January 30, 2026 (Settlement No. 2526205)
  • T+1 Month-end: January 30 transaction settles on February 2, 2026
  • T+2 Month-end: January 29 transaction settles on February 2, 2026; January 30 settles on February 3, 2026

Impact Assessment

Market Impact: Minimal. This is a standard monthly settlement schedule that enables orderly trading and settlement in the corporate debt segment.

Operational Impact: Routine operational schedule that market participants use for planning settlements. No changes to existing settlement processes or timelines.

Participant Action: Trading members should update their settlement calendars and ensure internal systems are aligned with the published schedule for January 2026 transactions.

Impact Justification

Routine monthly settlement schedule notification for corporate debt segment with standard T+0, T+1, and T+2 cycles. No regulatory changes or operational impact.