Description

Updated trading and settlement schedule for Securities Lending and Borrowing (SLB) segment covering the period from January 1, 2026 to January 31, 2026.

Summary

BSE has issued a revised trading and settlement programme for the Securities Lending and Borrowing (SLB) segment for January 2026. The schedule covers 20 settlement cycles from January 1 to January 31, 2026, with detailed timelines for trading dates, depository entry confirmations, and pay-in/pay-out dates.

Key Points

  • Revised settlement schedule covers period from January 1, 2026 to January 31, 2026
  • Total of 20 settlement cycles (SL-189/25-26 through SL-209/25-26)
  • Settlement numbers range from 2526189 to 2526209
  • Pay-in deadline: 8:00 AM on pay-out date
  • Members must submit pay-in instructions to Depositories/Banks by 7:50 AM
  • Notice issued by Indian Clearing Corporation Ltd.

Regulatory Changes

This is a schedule revision, not a regulatory change. The revision accounts for trading holidays and ensures proper settlement cycles throughout January 2026.

Compliance Requirements

  • Members must adhere to the revised settlement schedule
  • Pay-in instructions must be submitted to Depositories/Banks latest by 7:50 AM on pay-out date
  • Pay-in must be completed by 8:00 AM on the designated pay-out date
  • SLB 6A7A entries and confirmations must be completed on the same day as trading

Important Dates

  • Effective Period: January 1, 2026 to January 31, 2026
  • Notable Gaps: Settlement number SL-199/25-26 is skipped (likely due to trading holiday on January 15, 2026)
  • First Settlement: SL-189/25-26 - Trading on January 1, Pay-out on January 2
  • Last Settlement: SL-209/25-26 - Trading on January 30, Pay-out on February 2, 2026
  • Weekend Adjustments: Pay-outs scheduled for Sundays/holidays are moved to next working day

Impact Assessment

Operational Impact: Medium - SLB segment participants must update their settlement calendars and operational systems to reflect the revised schedule. The skip in settlement number SL-199 indicates a trading holiday adjustment.

Market Impact: Low - This is a routine operational schedule update that ensures smooth functioning of the SLB segment. No changes to trading mechanisms or settlement processes.

Participant Action Required: SLB segment members need to note the revised schedule, particularly the gap at settlement SL-199/25-26 and ensure timely submission of pay-in instructions (by 7:50 AM) to avoid settlement failures.

Impact Justification

Operational schedule update for SLB segment participants. Affects settlement timelines but is routine in nature. Medium impact due to settlement schedule modifications affecting multiple trading days.