Description

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

Summary

BSE has published the trading and settlement programme for the Basket Repo and Special Repo segments covering January 2026. The circular provides detailed settlement schedules for Ready Leg T+0, Ready Leg T+1, and Forward Leg transactions, along with specific pay-in and pay-out timings for each settlement type. The schedule covers 21 trading days from January 1, 2026 to January 30, 2026, with settlement numbers ranging from 2526185 to 2526205.

Key Points

  • Settlement schedule covers period from January 1, 2026 to January 31, 2026
  • Three settlement cycles provided: Ready Leg T+0, Ready Leg T+1, and Forward Leg
  • Total of 21 settlement days scheduled (excluding weekends and January 26 Republic Day holiday)
  • Settlement numbers: 2526185 to 2526205
  • Different pay-in and pay-out timings for BASKET Repo and SPECIAL Repo transactions
  • Reference made to ICCL Notice No.20180525-18 dated May 25, 2018 for detailed procedures

Regulatory Changes

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

Compliance Requirements

  • Market participants must adhere to specified settlement timings:
    • Ready Leg T+0: Pay-in by 02:15 PM, Pay-out by 03:00 PM (BASKET) / 03:00 PM (SPECIAL)
    • Ready Leg T+1: Pay-in by 02:15 PM, Pay-out by 03:00 PM (BASKET) / 01:00 PM (SPECIAL)
    • Forward Leg: Pay-in by 02:15 PM, Pay-out by 03:00 PM (BASKET) / 03:00 PM (SPECIAL)
  • Participants must ensure timely securities and funds pay-in on designated dates
  • Compliance with Give-up and Take-up procedures as per transaction dates

Important Dates

  • January 1, 2026: First settlement day (Settlement No. 2526185)
  • January 26, 2026: Market holiday (Republic Day) - No settlement
  • January 30, 2026: Last transaction date (Settlement No. 2526205)
  • February 2, 2026: Final pay-out date for January 30 transactions under T+1 and Forward Leg

Impact Assessment

Operational Impact: Minimal - This is a routine monthly schedule notification that enables market participants to plan their repo transactions and settlements for January 2026.

Market Impact: Low - The schedule maintains standard settlement cycles without introducing any changes to existing procedures or timings.

Participant Impact: Informational only - Participants in the Basket Repo and Special Repo segments need to note the settlement dates and ensure compliance with specified timings. The January 26 holiday is incorporated in the schedule with appropriate settlement date adjustments.

Impact Justification

Routine monthly settlement schedule notification for repo segments with no policy changes or operational disruptions