Description

BSE announces the trading and settlement schedule for the New Debt Segment (NDS) covering the period from January 1, 2026 to January 31, 2026, including pay-in/pay-out timings and auction dates.

Summary

BSE has released the trading and settlement programme for the New Debt Segment (NDS) for the period from January 1, 2026 to January 31, 2026. The circular provides a detailed schedule of 21 settlement cycles (NDS-184/25-26 through NDS-204/25-26) with corresponding trading dates, DP settlement numbers, 6A/7A entry and confirmation dates, pay-in/pay-out dates, and auction dates.

Key Points

  • Settlement programme covers January 1, 2026 to January 31, 2026
  • 21 settlement cycles scheduled (NDS-184/25-26 to NDS-204/25-26)
  • Regular pay-in time: 11:00 a.m. (members must submit instructions by 10:50 a.m.)
  • Auction pay-in time: 9:30 a.m. (members must submit instructions by 9:20 a.m.)
  • Pay-in/pay-out occurs T+1 day from trading date
  • Auction settlement occurs T+1 day from auction date
  • Members must submit pay-in instructions to Depositories/banks before specified cut-off times

Regulatory Changes

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

Compliance Requirements

  • Members must submit pay-in instructions to Depositories/banks latest by 10:50 a.m. for regular settlements (pay-in at 11:00 a.m.)
  • Members must submit auction pay-in instructions to Depositories/banks latest by 9:20 a.m. (auction pay-in at 9:30 a.m.)
  • Members must adhere to the published settlement schedule for NDS trading activities

Important Dates

  • January 1, 2026: First trading day (Settlement NDS-184/25-26)
  • January 30, 2026: Last trading day covered (Settlement NDS-204/25-26)
  • February 3, 2026: Final pay-out date for January settlements
  • All trading days follow T+1 settlement cycle for both regular and auction transactions

Impact Assessment

This is a routine administrative circular with minimal market impact. It provides operational clarity for debt segment participants regarding settlement schedules for January 2026. The circular ensures smooth functioning of the New Debt Segment by providing advance notice of trading and settlement dates, pay-in/pay-out timings, and auction schedules. Market participants can plan their debt trading activities and liquidity management accordingly. No changes to existing procedures or timings are introduced.

Impact Justification

Routine operational circular providing monthly settlement schedule for debt segment trading with no market-wide impact or regulatory changes