Description

BSE announces the trading and settlement schedule for the Institutional Trading Platform (ITP) in the SME segment for the period from January 1, 2026 to January 31, 2026, with T+1 settlement cycle.

Summary

BSE has published the trading and settlement programme for the Institutional Trading Platform (ITP) - SME Segment for January 2026. The schedule covers 21 trading days from January 1, 2026 to January 30, 2026, with settlements numbered ITP-189/25-26 through ITP-209/25-26. The programme follows a T+1 settlement cycle with specific pay-in and pay-out timings.

Key Points

  • Settlement cycle: T+1 (trade date plus one business day)
  • Pay-in deadline: 9:50 a.m. (members must submit instructions to depositories/banks)
  • Pay-in time: 10:00 a.m.
  • Pay-out time: 11:00 a.m. (funds and securities)
  • Total settlements in January 2026: 21 settlement cycles
  • Settlement numbers: ITP-189/25-26 to ITP-209/25-26
  • Depository settlement numbers: 2526189 to 2526209

Regulatory Changes

No regulatory changes announced. This is a routine schedule publication.

Compliance Requirements

  • Members must submit pay-in instructions to depositories/banks by 9:50 a.m. on the settlement date
  • Pay-in of funds and securities must be completed by 10:00 a.m.
  • Members must ensure availability of funds and securities for timely settlement

Important Dates

January 2026 Trading Days:

  • January 1, 2, 5-9, 12-16, 19-23, 27-30 (21 trading days)

Non-trading days in January 2026:

  • Weekends: January 3-4, 10-11, 17-18, 24-25, 31
  • January 26, 2026 appears to be a holiday (Republic Day)

Settlement Timeline:

  • First settlement: ITP-189/25-26 (Trade: Jan 1, Settlement: Jan 2)
  • Last settlement: ITP-209/25-26 (Trade: Jan 30, Settlement: Feb 2)

Impact Assessment

Market Impact: Low - This is a routine operational schedule that enables market participants to plan their trading and settlement activities for the month.

Operational Impact: Standard procedures apply with no changes to existing settlement timelines or processes. The T+1 settlement cycle continues as per established norms for the ITP-SME segment.

Stakeholder Impact: Institutional investors and trading members operating in the SME segment through ITP need to align their operations with this schedule. The fixed pay-in deadline of 9:50 a.m. requires members to maintain operational discipline for timely instruction submission.

Impact Justification

Routine monthly trading and settlement schedule announcement for ITP-SME segment with standard T+1 settlement cycle. No regulatory changes or unusual events.