Description

Trading and settlement schedule for the Corporate Debt Segment (ICDM) covering T+0, T+1, and T+2 settlement cycles for the period from January 1, 2026 to January 31, 2026.

Summary

BSE has published the trading and settlement programme for the Corporate Debt Segment (ICDM - Indian Corporate Debt Market) for January 2026. The circular provides detailed settlement schedules for three settlement cycles: T+0 (same-day settlement), T+1 (next-day settlement), and T+2 (two-day settlement). The schedule covers all trading days from January 1, 2026 to January 31, 2026, with settlement numbers ranging from 2526185 to 2526205.

Key Points

  • Settlement programme covers January 1-31, 2026 for Corporate Debt Segment
  • Three settlement cycles provided: T+0, T+1, and T+2
  • Total of 21 trading days scheduled in January 2026
  • Settlement numbers: 2526185 through 2526205
  • Holidays observed: January 3-4, 10-11, 17-18, 24-26, 31, 2026 (Saturdays and Sundays)
  • Members must adhere to depository settlement deadline times for respective market types
  • Securities transfers to ICCL account must be completed within stipulated timelines

Regulatory Changes

No regulatory changes introduced. This is a routine monthly settlement schedule publication.

Compliance Requirements

  • Trading members must follow the specified settlement schedules for each transaction date
  • Members must check and comply with depository settlement deadline times for respective market types
  • Securities must be transferred to ICCL (Indian Clearing Corporation Limited) account within specified timelines
  • Reference to ICCL Notice No. 20091206-01 dated December 6, 2009 for detailed guidelines on settlement procedures
  • Adherence to pay-in and pay-out dates for securities and funds as per the published schedule

Important Dates

Trading Period: January 1-31, 2026

First Settlement: January 1, 2026 (Settlement No. 2526185)

Last Settlement: January 30, 2026 (Settlement No. 2526205)

Key T+2 Settlement Dates:

  • Transactions on January 30, 2026 settle on February 3, 2026
  • Transactions on January 29, 2026 settle on February 2, 2026

Non-Trading Days: January 3, 4, 10, 11, 17, 18, 24, 25, 26, 31, 2026

Impact Assessment

Market Impact: Minimal - This is a standard monthly settlement schedule that ensures orderly functioning of the corporate debt market.

Operational Impact: Low - Trading members and clearing members need to plan their operations and liquidity management according to the published schedule. No changes to existing settlement processes.

Participant Action Required: Members should update their systems and calendars with the January 2026 settlement dates to ensure timely pay-in and pay-out of securities and funds. Particular attention should be paid to year-end/new-year transitions and ensure adequate staffing and system readiness for the first trading day of 2026.

Impact Justification

Routine monthly settlement schedule for corporate debt segment with standard T+0, T+1, and T+2 cycles. No changes to existing processes or regulations.