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 settlement numbers, trading dates, and pay-in/pay-out dates.

Summary

BSE has issued a revised trading and settlement programme for the Securities Lending and Borrowing (SLB) segment covering the period from January 1, 2026 to January 31, 2026. The circular provides complete settlement details including settlement numbers, depository settlement numbers, trading dates, 6A7A entry and confirmation dates, and pay-in/pay-out dates for 20 settlements during this period.

Key Points

  • Revised schedule covers settlements SL-189/25-26 through SL-209/25-26
  • Trading dates run from January 1, 2026 to January 30, 2026
  • SLB 6A7A entry and confirmation occur on the same day as trading
  • Pay-in/pay-out dates are typically T+1 day
  • Pay-in time is 08:00 a.m., with members required to submit instructions to Depositories/Banks by 07:50 a.m.
  • Notice issued by Indian Clearing Corporation Ltd.

Regulatory Changes

This is a revised schedule reflecting adjustments to the previously published SLB segment trading and settlement programme for January 2026. The revision accounts for trading holidays on January 15, 2026 (gap in settlement numbers from SL-198 to SL-200) and January 26, 2026 (Republic Day, gap in schedule between January 23 and January 27).

Compliance Requirements

  • Members must submit pay-in instructions to Depositories/Banks latest by 07:50 a.m. on pay-in dates
  • Pay-in must be completed by 08:00 a.m. on designated pay-in dates
  • All participants in SLB segment must follow the revised settlement schedule
  • Depository participants must process 6A7A entries and confirmations on the specified dates

Important Dates

  • Schedule Period: January 1, 2026 to January 31, 2026
  • Trading Holidays: January 15, 2026 and January 26, 2026 (reflected in schedule gaps)
  • First Settlement: SL-189/25-26 (Trading: Jan 1, Pay-out: Jan 2)
  • Last Settlement in Period: SL-209/25-26 (Trading: Jan 30, Pay-out: Feb 2)
  • Daily Pay-in Deadline: 07:50 a.m. for instruction submission, 08:00 a.m. for completion

Impact Assessment

Operational Impact: Medium - affects daily operations of all participants in the SLB segment including brokers, institutional investors, and clearing members who need to align their systems and processes with the revised schedule.

Market Impact: Low to Medium - primarily an operational schedule change that ensures smooth functioning of the securities lending and borrowing market. The revision provides clarity on settlement timelines, helping participants manage their securities lending/borrowing obligations efficiently.

Participant Action Required: All SLB segment participants must update their internal systems and calendars to reflect the revised settlement dates and ensure compliance with the specified pay-in timelines to avoid settlement failures.

Impact Justification

Routine operational circular providing revised settlement schedule for SLB segment participants. Medium importance as it affects operational planning for brokers and participants in securities lending and borrowing activities.