Description

BSE announces trading and settlement schedule for Basket Repo and Special Repo segments covering the period from January 1, 2026 to January 31, 2026.

Summary

BSE has published the trading and settlement programme for the Basket Repo and Special Repo segments for January 2026 (January 1-31, 2026). The circular provides detailed settlement schedules for Ready Leg T+0, Ready Leg T+1, and Forward Leg transactions, along with specific settlement timings for securities and funds pay-in and pay-out.

Key Points

  • Settlement schedule covers 21 trading days in January 2026
  • Settlement numbers range from 2526185 to 2526205
  • Three settlement types: Ready Leg T+0, Ready Leg T+1, and Forward Leg
  • Trading holidays observed on January 3-4, 10-11, 17-18, 24-26, and 31, 2026
  • Distinct settlement timings for Basket Repo and Special Repo transactions
  • Reference made to ICCL Notice No.20180525-18 dated May 25, 2018 for additional details

Regulatory Changes

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

Compliance Requirements

  • Participants in Basket Repo and Special Repo segments must adhere to specified settlement timings
  • Ready Leg T+0: Securities/Funds pay-in by 02:15 PM, pay-out by 03:00 PM for both Basket and Special Repo
  • Ready Leg T+1: Basket Repo pay-in by 02:15 PM, pay-out by 03:00 PM; Special Repo pay-out by 01:00 PM
  • Forward Leg: Securities/Funds pay-in by 02:15 PM, pay-out by 03:00 PM for both types

Important Dates

  • Effective Period: January 1, 2026 to January 31, 2026
  • First Settlement: January 1, 2026 (Settlement No. 2526185)
  • Last Settlement: January 30, 2026 (Settlement No. 2526205), with pay-out on February 2, 2026 for T+1 transactions
  • Trading Holidays: January 3, 4, 10, 11, 17, 18, 24, 25, 26, and 31, 2026

Impact Assessment

Market Impact: Minimal - routine operational schedule with no changes to existing settlement framework.

Operational Impact: Low - provides clarity on settlement dates for repo market participants for January 2026, enabling proper planning of liquidity and collateral management. The schedule maintains consistency with existing T+0 and T+1 settlement cycles for ready leg transactions and standard forward leg settlements.

Impact Justification

Routine monthly settlement schedule publication for repo segments with no policy changes, affecting only participants in basket and special repo trading.