Description

BSE announces revised trading and settlement schedule for Basket Repo and Special Repo segments covering the period from January 1, 2026 to January 31, 2026, including settlement timings and pay-in/pay-out dates.

Summary

BSE has issued the revised trading and settlement programme for Basket Repo and Special Repo segments for the period from January 1, 2026 to January 31, 2026. The circular provides comprehensive settlement schedules for Ready Leg T+0, Ready Leg T+1, and Forward Leg transactions, along with specific settlement timings for pay-in and pay-out of securities and funds.

Key Points

  • Settlement schedule covers 20 trading days from January 1-30, 2026
  • Three settlement cycles detailed: Ready Leg T+0, Ready Leg T+1, and Forward Leg
  • Settlement numbers range from 2526185 to 2526205
  • January 15, 2026 is excluded from the schedule (settlement holiday)
  • Separate timings specified for Basket Repo and Special Repo transactions
  • Reference made to ICCL Notice No.20180525-18 dated May 25, 2018 for additional details

Regulatory Changes

No regulatory changes introduced. This is a routine schedule update reflecting the calendar for January 2026 with existing settlement procedures.

Compliance Requirements

  • Market participants must adhere to specified pay-in times by 02:15 PM for all settlement types
  • Ready Leg T+0 and Forward Leg pay-outs completed by 03:00 PM for Basket Repo
  • Ready Leg T+1 pay-outs completed by 03:00 PM for Basket Repo and by 01:00 PM for Special Repo
  • Special Repo transactions for all settlement types completed by 03:00 PM
  • Participants must follow the transaction dates and corresponding pay-in/pay-out dates as specified

Important Dates

  • Effective Period: January 1, 2026 to January 31, 2026
  • Settlement Holiday: January 15, 2026 (no settlement number 2526195)
  • First Settlement: January 1, 2026 (Settlement No. 2526185)
  • Last Settlement: January 30, 2026 (Settlement No. 2526205)
  • Cross-month Settlement: January 30 transactions settle on February 2, 2026

Impact Assessment

Market Impact: Minimal. This is a procedural circular providing the monthly settlement calendar.

Operational Impact: Low. Market participants in repo segments need to note the revised schedule and ensure their systems are updated with correct settlement dates, particularly accounting for the January 15 holiday.

Segment Affected: Only participants trading in Basket Repo and Special Repo segments on BSE are affected.

Trading Continuity: No disruption to trading activities. Settlement timings remain consistent with existing framework.

Impact Justification

Routine monthly settlement schedule update for repo segments with no material changes to market operations or trading rules