Description

BSE announces revised trading and settlement schedule for Securities Lending and Borrowing (SLB) segment covering the period from January 1 to January 31, 2026, including modified timings for settlements on January 16, 2026.

Summary

BSE has issued the revised trading and settlement programme for the Securities Lending and Borrowing (SLB) segment for the period from January 1, 2026 to January 31, 2026. The circular outlines settlement numbers, trading dates, depository entry and confirmation dates, and pay-in/pay-out dates for 22 settlement cycles (SL-189/25-26 to SL-209/25-26). Special timings apply for settlements on January 16, 2026 due to a settlement holiday on January 15.

Key Points

  • 22 settlement cycles scheduled for January 2026 (SL-189/25-26 through SL-209/25-26)
  • Standard pay-in time is 08:00 a.m. with instructions to be submitted by 07:50 a.m.
  • Modified timings on January 16, 2026 for two settlements due to holiday on January 15
  • SL-198/25-26 (Trade date: 14-01-2026): Pay-in at 08:00 a.m., Pay-out at 09:30 a.m.
  • SL-199/25-26 (Trade date: 15-01-2026): Pay-in at 10:15 a.m., Pay-out at 12:00 p.m.
  • Depository settlement numbers range from 2526189 to 2526209

Regulatory Changes

No regulatory changes introduced. This is a routine operational schedule update for the SLB segment.

Compliance Requirements

  • Members must submit pay-in instructions to Depositories/Banks by 07:50 a.m. for standard settlements
  • For settlement SL-198/25-26 (January 16): Submit instructions by 07:50 a.m.
  • For settlement SL-199/25-26 (January 16): Submit instructions by 10:05 a.m.
  • Members must adhere to the specified 6A7A entry and confirmation dates
  • Pay-in and pay-out must follow the designated schedule

Important Dates

  • January 1-31, 2026: Trading and settlement period covered by this schedule
  • January 16, 2026: Modified settlement timings for two settlement cycles (SL-198 and SL-199)
  • January 15, 2026: Settlement holiday affecting subsequent day’s timings
  • Trading holidays: January 3-4, 10-11, 17-18, 24-26, 31 (weekends/holidays)
  • January 26, 2026: Republic Day holiday (no trading on 24, 26)
  • February 2, 2026: Pay-out date for final January settlement (SL-209/25-26)

Impact Assessment

Market Impact: Low. This is a routine monthly settlement schedule that provides operational clarity for SLB segment participants. The modified timings on January 16 are minor adjustments to accommodate the settlement holiday.

Operational Impact: Low to Medium for SLB participants only. Members engaging in securities lending and borrowing must plan their operations according to the published schedule. The staggered timings on January 16 require attention to avoid submission delays.

Participants Affected: Stock brokers, institutional investors, and clearing members participating in the SLB segment. Regular equity market participants are not affected.

Business Continuity: The schedule ensures uninterrupted SLB operations throughout January 2026 with appropriate adjustments for holidays.

Impact Justification

Routine monthly settlement schedule update for SLB segment with standard trading and settlement timings. Only affects SLB participants with modified timings on January 16 due to settlement holiday.