Description

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

Summary

BSE has issued the revised trading and settlement programme for Basket Repo and Special Repo segments covering the period from January 1, 2026 to January 31, 2026. The circular provides detailed settlement schedules for Ready Leg T+0, Ready Leg T+1, and Forward Leg transactions, including all settlement numbers, transaction dates, and pay-in/pay-out dates. Settlement timings remain unchanged from previous schedules.

Key Points

  • Settlement schedule covers 20 trading days in January 2026 (settlement numbers 2526185 to 2526205)
  • Three settlement types: Ready Leg T+0, Ready Leg T+1, and Forward Leg
  • Settlement number 2526195 is skipped (corresponds to January 15, 2026 - settlement holiday)
  • Ready Leg T+0 settlements occur on same day as transaction date
  • Ready Leg T+1 and Forward Leg settlements occur on next business day
  • Last settlement (2526205) for January 30 transactions settles on February 2, 2026

Regulatory Changes

No regulatory or procedural changes introduced. This is a standard monthly calendar update for repo segment settlements.

Compliance Requirements

Market participants in Basket Repo and Special Repo segments must adhere to the published settlement schedule and timings:

  • Ready Leg T+0: Pay-in by 2:15 PM, Pay-out by 3:00 PM (Basket Repo and Special Repo)
  • Ready Leg T+1: Pay-in by 2:15 PM, Pay-out by 3:00 PM (Basket Repo) / by 1:00 PM (Special Repo)
  • Forward Leg: Pay-in by 2:15 PM, Pay-out by 3:00 PM (Basket Repo and Special Repo)

Participants should refer to ICCL Notice No.20180525-18 dated May 25, 2018 for detailed operational guidelines.

Important Dates

  • Effective Period: January 1, 2026 to January 31, 2026
  • Settlement Holiday: January 15, 2026 (no settlement number assigned)
  • First Settlement: January 1, 2026 (Settlement No. 2526185)
  • Last Settlement: January 30, 2026 (Settlement No. 2526205) - settles on February 2, 2026

Impact Assessment

Market Impact: Minimal. This is a routine administrative update that provides operational clarity for the month.

Operational Impact: Low. Market participants in repo segments need to note the calendar dates but no changes to settlement procedures or timings are implemented.

Affected Participants: Members trading in Basket Repo and Special Repo segments of BSE, primarily institutional participants engaged in debt market operations and liquidity management.

Impact Justification

Routine monthly settlement schedule update for repo segments with no changes to operational procedures or timings, only calendar dates updated