Description

BSE announces the trading and settlement schedule for Basket Repo and Special Repo segments covering the period from January 1, 2026 to January 31, 2026, including settlement timings and schedules for Ready Leg T+0, T+1 and Forward Leg transactions.

Summary

BSE has released the trading and settlement programme for the Basket Repo and Special Repo segments for January 2026 (01.01.2026 to 31.01.2026). The circular provides comprehensive settlement schedules for Ready Leg T+0, Ready Leg T+1, and Forward Leg transactions, covering 21 trading days with settlement numbers from 2526185 to 2526205. The settlement timings remain consistent with existing framework as per ICCL Notice No.20180525-18.

Key Points

  • Settlement schedule covers 21 trading days in January 2026
  • Three types of settlement schedules provided: Ready Leg T+0, Ready Leg T+1, and Forward Leg
  • Settlement numbers range from 2526185 (January 1) to 2526205 (January 30)
  • Ready Leg T+0 settlements occur on same day as transaction
  • Ready Leg T+1 and Forward Leg settlements occur on next business day
  • No trading on weekends and holidays (January 4, 11, 18, 24-26, 31)
  • Settlement timings differentiated by transaction type

Regulatory Changes

No regulatory changes introduced. This is a routine monthly settlement schedule publication following existing ICCL framework (Notice No.20180525-18 dated May 25, 2018).

Compliance Requirements

For Market Participants:

  • Adhere to specified settlement timings for securities and funds pay-in/pay-out
  • Ready Leg T+0: Pay-in by 02:15 PM, Pay-out by 03:00 PM (Basket Repo) / 03:00 PM (Special Repo)
  • Ready Leg T+1: Pay-in by 02:15 PM, Pay-out by 03:00 PM (Basket Repo) / 01:00 PM (Special Repo)
  • Forward Leg: Pay-in by 02:15 PM, Pay-out by 03:00 PM (Basket Repo) / 03:00 PM (Special Repo)
  • Follow transaction and give-up/take-up dates as specified in the schedules

Important Dates

Trading Period: January 1, 2026 to January 31, 2026

Trading Days: 01, 02, 05, 06, 07, 08, 09, 12, 13, 14, 15, 16, 19, 20, 21, 22, 23, 27, 28, 29, 30 January 2026

Non-Trading Days in January 2026: January 4, 11, 18, 24, 25, 26, 31 (weekends and holidays)

Settlement Numbers: 2526185 through 2526205

Settlement Spillover: Last settlement (2526205) for January 30 transactions extends to February 2, 2026 for T+1 legs

Impact Assessment

Market Impact: Low - This is a routine administrative circular providing advance notice of settlement schedules for repo segment participants. No changes to existing settlement mechanisms or timings.

Operational Impact: Low - Market participants can plan their repo operations and liquidity management for January 2026. The schedule maintains consistency with established settlement patterns.

Participant Impact: Information-only circular enabling participants to schedule their basket repo and special repo transactions for the upcoming month. Critical for treasury and settlement teams to plan securities and funds movements in advance.

Impact Justification

Routine monthly settlement schedule announcement for repo segments with no changes to existing processes or timings