Description

BSE announces the daily trading and settlement schedule for the EGR (Electronic Gold Receipts) segment covering the period from January 1, 2026 to January 31, 2026, including pay-in/pay-out dates and auction timings.

Summary

BSE has released the comprehensive trading and settlement programme for the Electronic Gold Receipts (EGR) segment for January 2026. The schedule covers 21 trading days from January 1 to January 30, 2026, detailing settlement numbers, trading dates, pay-in/pay-out dates, and corresponding auction schedules. Pay-in instructions must be submitted by 2:00 PM with pay-out by 4:00 PM, while auction pay-in is scheduled at 9:00 AM with instructions due by 8:50 AM.

Key Points

  • Settlement period covers January 1-30, 2026 (21 trading days)
  • Settlement numbers range from DR-196/2025-2026 to DR-216/2025-2026
  • Depository settlement numbers: 2526196 to 2526216
  • Corresponding auction settlement numbers: RA-196/2025-2026 to RA-216/2025-2026
  • Regular pay-in deadline: 2:00 PM with pay-out by 4:00 PM
  • Auction pay-in time: 9:00 AM with instructions by 8:50 AM
  • Weekend gaps reflected in settlement schedule (January 4-5, 10-11, 17-18, 24-26, 31-February 1)

Regulatory Changes

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

Compliance Requirements

  • Members must submit pay-in instructions to Depositories/banks by 2:00 PM for regular settlements
  • For auctions, members must submit pay-in instructions by 8:50 AM
  • Auction offers must be submitted on designated auction dates
  • Strict adherence to published settlement timelines is mandatory

Important Dates

  • Schedule Period: January 1, 2026 to January 31, 2026
  • First Trading Date: January 1, 2026 (Settlement DR-196/2025-2026)
  • Last Trading Date: January 30, 2026 (Settlement DR-216/2025-2026)
  • Regular Pay-in Deadline: 2:00 PM on pay-in dates
  • Pay-out Time: By 4:00 PM on pay-out dates
  • Auction Pay-in Time: 9:00 AM on auction pay-in dates
  • Auction Instruction Deadline: 8:50 AM on auction dates

Impact Assessment

Operational Impact: This circular has medium operational impact specifically for EGR segment participants. Trading members, clearing members, and depositories involved in gold receipts trading must organize their settlement operations according to this schedule.

Market Scope: Limited to EGR segment only - does not affect equity, derivatives, or other debt segments.

Planning Requirements: Members need to ensure adequate fund and securities arrangements for 21 settlement cycles, particularly around weekend gaps where pay-out dates extend to the following Monday.

Auction Management: The parallel auction settlement schedule requires members to maintain readiness for auction participation with early morning deadlines (8:50 AM) throughout the month.

Impact Justification

Routine operational circular providing monthly settlement schedule for EGR segment participants. Medium importance for EGR traders and clearing members who need to plan settlements and auctions. No regulatory changes or market-wide impact.